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Interview with DongKoo, the Founder and CEO of ViCA Foundation

The ViCA platform operates on an automatic dealing in virtual assets using ViBOT, an arbitrage trading solution from NROOTM Korea. ViBOT generated revenue is partially used for the expansion of ViCA ecosystem to support ViCA token and for the development of exclusive ViCA NFTs and Metaverse. The remaining revenue is redeployed back to the automated trading system ViBOT, continuously increasing the underlying assets.

We recently had a chance to sit with Mr. DongKoo Lee, the brain behind the development of ViCA Foundation and the unique arbitrage trading solution, ViBOT. Lee answered multiple questions regarding the project and shed a light on his future plans. LetΓÇÖs have a look at our interview!

Can you brief a bit on your background and how the idea of developing ViCA came into your mind?

As a freelance developer, I worked as a developer doing personal research and solving problems for other companies. When cryptocurrencies became popular around the world, I was offered a position to assist in the development of a cryptocurrency exchange in Korea and I successfully led the project for over two years as the General Manager Development. At this time, I noticed that different ecosystems were being developed in different markets for the same cryptocurrency, and I came up with a new business idea starting from ViCA. I tried to understand blockchain technology from as many different perspectives as possible through white papers, source codes, and economic impacts of Bitcoin and Ethereum, and finally found the answer and started development. The development took three years and I was able to complete this system with an investment of about $2,000,000.

What fields were you working in before stepping into the blockchain and crypto world?

Starting with GW-BASIC at the age of 8, I started my career by self-taught programming languages ΓÇïΓÇïsuch as C, C++, Visual Basic, Delphi, PHP, ASP, R, and Python. In the early days of the development of the Internet, I continued to provide good programs to users by posting various utility programs online. When I started commercial activities in earnest, I mainly worked on stock trading and developed stock trading programs using statistical analysis. I was very interested in automation, so I developed and sold online game bots, and even provided AI programs for games that virtual users needed. The development of a cryptocurrency exchange in 2018 gave me a deep understanding of blockchain technology and has brought me to the present.

What has inspired you to create ViCA Token and ViBot?

Everyone dreams of unearned income. As an engineer, a statistician, and a developer, I always had this desire. IΓÇÖve seen a lot of companies in the crypto space while running my business, and IΓÇÖve found that they are full of scammers. I wanted these innocent victims to truly make money and find happiness in their lives. If the people around me continue to experience loss-free returns, IΓÇÖm sure this will soon make a lot of money for me and my teammates. We have included this business structure in ViCA Token in the hopes of automatically operating high-yield arbitrage trading and wanting as many people as possible to participate in this system and share the profits. This project could have ended by using ViBot as a personal asset to make money, but then it wouldnΓÇÖt have impacted the community or brought good returns for many people. This is what motivated me to create ViCA to present a product to the community.

Can you give an overview of ViCA and its product offerings?

Arbitrage transactions using Ethereum and USDT are the main contents of our business. While maintaining the number of Ethereum, arbitrage transactions in which USDT assets increase are possible in reality. Maintaining the number of Ethereum is an important point, and from an investorΓÇÖs point of view who are long-term holders of Ethereum, this can have the effect of increasing assets with the concept of compound interest. Our publicly advertised system yields a whopping 1.7ΓÇô2.4% profit per month, but there are individuals who have actually earned more than 30% per month. Our system is designed in such a way that USDT assets never decrease. The actual revenue generated is more than 20% per year, and it is the opinion of all participants, including myself, that this is a profit structure that is impossible in the existing economic system. Moreover, we do not receive and operate this asset but leave it in the customerΓÇÖs exchange wallet, and all transaction records are recorded in the participantΓÇÖs Binance, Bittrex, Upbit, and Bithumb accounts. The assets of our customers keep on growing in their wallets without the need to prove their authenticity, unlike the traditional financial sector. Strictly speaking, ViBot is not blockchain technology, but a system that increases customersΓÇÖ assets with financial technology.

We listed ViCA Token on the exchange for customers who are not Korean residents and cannot join the Korean exchange. In the end, the system was created so that you can become a participant in arbitrage just by having ViCA Token. Moreover, we publish our operating assets and returns every week through our official Telegram channel. As far as I know, there are only a handful of blockchain companies that operate while disclosing information so transparently.

Why your project has not planned any ICOs or raised investment in the initial phase?

In general, whenever an ICO is carried out, funds are raised to generate the capital necessary for the development and operations and other associated costs. However, as a result, it is no different than passing these costs on to the early participants of the ecosystem. Also, I have already spent a lot of money personally to create the ViCA Token in the state of development so there was no need to lure investors through pre-sales or offerings. If you operate without transferring these initial funds to the participants and without attracting excessive investment, the price will increase faster. I didnΓÇÖt do an ICO because I found these effects to be very strategic in the long run.

How do you measure ViCAΓÇÖs success and has ViCA ticked all its boxes in the last year?

Undoubtedly, ViCA Token has been performing exceptionally well despite the recent downturns in the market. We believe in gradual and error-free progress and our team has been on the track. Our token was successfully listed on multiple exchanges and is now accessible to millions of users. The underlying assets for arbitrage trading have been increasing along with the weekly profit percentage. We do not want to rush at this point in time and everything is going as planned.

What is the long-term goal for ViCA?

Our goal is very simple. As the number of assets operated on ViBot increases, the worth of ViCA Token increases. Therefore, we only need to aim to increase the amount of participation in arbitrage. Firstly, if the operating capital of ViBot reaches nearly $23,000,000, an exponential increase in the price of ViCA Token is expected.

For our second and greater success, we are aiming to reach $150,000,000 in arbitrage operations.

Direct revenue is distributed to users who provide funds for arbitrage, and with the revenue allocated to us, we increase the operating funds to further expand the arbitrage trading revenue potential. Since we did not provide much liquidity to the market, our scenario is that the price of ViCA Token increases very steeply after a certain point. IΓÇÖm sure this isnΓÇÖt far off.

Is ViCA planning to launch other products or the focus is on scaling the already developed system?

We have various businesses in Korea. Although we developed kiosks and blockchain vending machines, in reality, companies focus on things that can generate higher profits. After achieving the primary goal for arbitrage operating funds presented above, we are preparing a business that can bring about another innovation in NFT and Metaverse. NFTs and Metaverse are now hot topics of discussion that can attract a lot of participants and it can lead to massive popularity.

We are a company of specialists who can actually develop ideas with a small number of people. Depending on the stage, if more people can enjoy investment benefits with our technology, we will continue to develop without excessive expansion.

What is your suggestion for any newbies entering the crypto market? What should be their strategy regarding trading or investment in different projects?

I have seen a lot of companies that make plans that are not realistic at all. They include blockchain technology and even develop exchanges that do not offer any benefit. It is important to soberly judge whether the project really needs blockchain technology, whether a prototype product exists, and whether it has the ability to innovate and develop new things.

How do you see the overall crypto market?

I think there is a high possibility that the market will be reorganized around companies that have real technology and offer a profit. If it is not sustainable or as symbolic as Bitcoin, the growth engine itself is weak. As with the recent Luna-Terra incident, problems will begin to emerge from coins made of trust without a sustainable profit structure, and it is believed that this will flow according to the laws of nature.

What are your sentiments regarding the current bear market?

I donΓÇÖt think itΓÇÖs a bear market. All investment goods are moving according to complex market conditions, but it is questionable whether the current cryptocurrency market can be viewed as a stagnant state compared to three or five years ago. Prices do not reflect actual value. I hope more people look at inflation-free cryptocurrencies from a longer-term perspective.

What is your top priority for the next year related to your project?

Sufficient operating funds for the ViBOT is my number one priority. This will lead to an increase in investment in the next products utilizing ViCA Token, and it is important to me that many participants get real profits for a long time. Fundamentally, arbitrage operating funds are the most important aspect of our project.

That was all from our interview, we are thankful to Mr. Lee for taking out some time and sharing his insights about the ViCA platform. Learn more about ViCA Token and ViBOT or become a part of the ViCA community through the links given below:

Website | Twitter | Facebook | Telegram | YouTube | Medium

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