In this episode of the 1delta Podcast, Kevin Schellinger interviews Vitali Dervoed, CEO and co-founder of Composability Labs. Vitali shares his extensive background in software engineering, fintech, and his transition into crypto during the ICO boom. He discusses his journey through building Ethereum scalability solutions, contributing to Solana’s ecosystem, and eventually founding Composability Labs.
The conversation delves into Vitali’s latest project—a fully on-chain order book DEX called Spark, built on the Fuel Network. He explains the advantages of order book DEXs over AMMs, highlighting efficiency, price discovery, and scalability improvements. Vitali also outlines Spark’s features, including parallelization, low transaction costs, and plans for integrating perpetual contracts (perps) and gasless transactions.
The episode explores broader trends in DeFi, emphasizing the shift from centralized exchanges to decentralized platforms, and Spark’s vision of becoming a fully composable ecosystem. Vitali shares insights into market-making strategies, MEV challenges, and future-proofing DeFi platforms. He concludes with advice for Web3 builders, stressing long-term vision, resilience, and independence.
00:00 - Introduction to Vitali Dervoed and His Background
02:52 - Entry into the Crypto World
5.18 - Researchers are also Builders
6:25 - Backstory of Composability Labs
12.00 - Potential of Fuel Network
21:30 - Explaining Order Book DEXs and Their Role in DeFi
38:30 - How to use Spark?
42:15 - Spark vs. DYDX
45.09 - On-chain vs. off-chain debate
48:15 - Addressing MEV Challenges and Ensuring Fair Trading
55:10 - Plans for Perpetual Contracts, Future of Spark, and Token Launches
1:06:30 - Broader Trends in DeFi and the Transition to Decentralized Exchanges
1:11:20 - Projects Vitali is Bullish About
1:15:12 - Advice for Web3 Builders: Long-Term Vision and Execution