The cryptocurrency industry is undergoing a period of rapid evolution, and Monitok is emerging as a key innovator in this dynamic space. Positioned as a Hybrid Crypto Exchange (HEX), Monitok seamlessly integrates the strengths of centralized exchanges (CEX) with the flexibility of decentralized exchanges (DEX). This approach offers users a secure, intuitive, and efficient trading experience, catering to the diverse needs of the modern crypto market.
At the helm of this forward-thinking initiative is Eimantas Barauskas, an accomplished leader with extensive expertise in both traditional finance and blockchain technology.
In an exclusive interview, Barauskas delves into his professional journey, Monitok’s pioneering hybrid model, and the platform’s ambitious vision to redefine the cryptocurrency ecosystem. By tackling critical user challenges and introducing cutting-edge trading solutions, Monitok is not only setting benchmarks in decentralized finance (DeFi) but also paving the way for the next generation of crypto innovation.
What inspired you to enter the crypto and blockchain space?
Eimantas Barauskas: My journey began in traditional finance and trading, where I encountered significant barriers for investors. When I first discovered blockchain technology in 2015, it was clear this innovation had the potential to disrupt financial systems, but the entry barriers were daunting for everyday users.
Initially, I envisioned Monitok as a simple, user-friendly gateway for retail users to explore and learn about this fascinating space. However, events such as the collapse of FTX underscored the critical need for transparency, security, and self-custody in the industry. This inspired me to build a platform that combines the strengths of centralized and decentralized exchanges, which became the foundation for Monitok.
Ultimately, I wanted to contribute to the blockchain revolution by creating a platform that empowers users and bridges the gap between traditional finance and DeFi.
What is Monitok, and what problem does it aim to solve in the crypto trading ecosystem?
Eimantas Barauskas: Monitok addresses the key challenges in the crypto ecosystem. Centralized exchanges often lack transparency and ownership, while decentralized platforms can be overly complex for retail users. Web3 wallets, though self-custodial, often pose usability and security challenges.
Monitok combines the strengths of CEXs and DEXs into a seamless, all-in-one platform. Users benefit from account-abstracted self-custody, direct access to over 100 DEXs, fiat functionality, and a licensed, transparent solution. Our goal is to create a secure, intuitive platform that simplifies trading and fosters trust in the crypto space.
Monitok is described as a hybrid crypto exchange (HEX). How does it differ from CEXs and DEXs?
Eimantas Barauskas: A hybrid exchange merges the user-friendly experience of CEXs with the security and autonomy of DEXs. While CEXs act as intermediaries with intuitive interfaces, they compromise security and asset ownership. On the other hand, DEXs offer peer-to-peer trading without intermediaries but require users to manage wallets and navigate complex processes.
Monitok bridges this gap with a simplified mobile app, full banking support, and self-custodial wallets. The platform uses a DeFi backend to scan hundreds of DEXs, ensuring users get the best rates across multiple liquidity pools. This approach delivers a seamless, secure, and efficient trading experience.
How does Monitok’s hybrid model set it apart from other exchanges?
Eimantas Barauskas: Monitok’s account-abstracted self-custodial wallets give users full control over their assets. Unlike traditional platforms, we create wallets instantly for users, eliminating the need for them to bring their own. Our seamless fiat integrations allow users to start without crypto, while flexible fee payments let them use their preferred tokens.
We’ve also aggregated over 100+ DEXs, enabling peer-to-peer transfers at the best rates. Additionally, our fiat integrations include personal IBANs and crypto debit cards, making the transition between traditional finance and crypto effortless.
What truly sets us apart is how we’ve combined all these features into one streamlined mobile app with full banking support and self-custodial wallets. Monitok offers robust security without compromising usability, making it accessible for both beginners and advanced traders.
What are some of Monitok’s key accomplishments, and where is it positioned in the market today?
Eimantas Barauskas: One of our proudest achievements is developing a fully functional, first-of-its-kind mobile hybrid crypto exchange. Feedback from our beta release, which attracted over 5,000 active users, has been overwhelmingly positive.
We’ve partnered with leading players like Arbitrum, Polygon, Lido, and Curve. Additionally, we onboarded esteemed advisors such as Tomer Warschauer Nuni, Tal Cohen, and Laurent Bourquin. We’ve secured $1.4M in investments and an EU innovation grant of $108K, which boosted our credibility and reputation. These achievements underscore our credibility and set the stage for sustained growth.
Media recognition has been another highlight, with Monitok featured in outlets like CryptoSlate, CoinGape, and Cointelegraph.
Can you share a sneak peek into Monitok’s roadmap?
Eimantas Barauskas: This year, we’re preparing for the $MONY token sale and launching crypto debit cards, which will simplify daily crypto usage. We’re also rolling out Monitok Academy to educate users about the crypto ecosystem.
Looking ahead, our token generation event is set for Q1 2025. Post-TGE, we’ll introduce AI-driven trading modules for personalized strategies and real-time risk management. By Q3, we’ll enhance our platform with a pro trading app and features like a decentralized order book and perpetual futures trading.
It’s an exciting roadmap, and we’re committed to delivering value for all our users.
How does Monitok ensure compliance and safeguard user assets?
Eimantas Barauskas: Compliance and security are at the core of Monitok. We secured licensing in Europe and the US and are preparing for upcoming MiCA regulations. These steps ensure we meet the highest standards in the key markets.
On the security front, our decentralized backend and account-abstracted wallets prioritize self-custody, giving users full control over their private keys. We also implement advanced encryption and multi-factor authentication to protect user data and transactions.
With Monitok’s token launch approaching, could you share more details about $MONY and its utility?
Eimantas Barauskas: $MONY is the backbone of the Monitok ecosystem. Users can pay for gas fees, unlock AI trading tools, and stake tokens. Designed to work across multiple EVM chains, $MONY also features a buy-back mechanism to maintain value stability.
Currently, we’re in the strategic round of our token sale, offering early investors better conditions before the public round. The sale will take place on Fjord Foundry, with the launch scheduled for December 3, 2024.
How do you see the role of Monitok in shaping the future of trading and blockchain technology?
Eimantas Barauskas: I see Monitok as a pivotal player in shaping the future of trading and blockchain technology by becoming a true one-stop-shop crypto platform. Our mission is to guide new users into the crypto space, helping them start with confidence and grow into seasoned traders. The current market still has a noticeable gap—an exchange that seamlessly bridges the divide between decentralized finance (DeFi) and traditional finance. That’s where Monitok steps in.
Crypto is becoming more mainstream every day. We’re seeing all-time highs in interest and adoption, with headlines and major institutions recognizing its potential. This means a wave of new users is coming, eager to explore the opportunities blockchain offers, and Monitok is built to be their gateway. We’re not just providing the app for trading; we’re building an ecosystem where users can invest, spend, learn, and trade, all while maintaining control over their assets.
Thanks for today’s interview! Under Barauskas’s leadership, Monitok is redefining what it means to trade in the crypto space. By combining the best of centralized and decentralized systems, Monitok is poised to become a pivotal force in the future of digital finance.
