We are pleased to announce our next AMA on June 3rd 2021 at 03:00 PM UTC Time: Satoshi Club x Eqifi
⚠️Click to see the hour
⚠️Total Reward pool: $500
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Eqifi Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions.
Part 2: 100$/10 users – Open chat for 120 seconds. You can post Max 3 questions. Eqifi Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Eqifi
For more details:
Eqifi Website – eqifi.com
Eqifi Telegram – @eqifi
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
What are the biggest challenges in blockchain in the future? And how are you going to solve it?
EQIFi is the first DeFi project with a Regulated and Licensed Bank (EQIBank). I see you offer Fixed Rate Lending and Variable Rate Lending. How does your lending works? Can people take a bank loan from you? Also what are the advantages that EQIBank provides over the regular banks?
The EQIFi community has full control over all core functions including listing or delisting tokens, adjusting interest and collateral rates and choosing a new administration. How can users be the part of these governance operations? What’s the role of holding or staking EQIFI Tokens on it? How will it be possible to just hold token and propose change of these core functions without any financial knowledge or do you have any mechanism for this?
What is the main challenge that your platform must meet for traditional banking to adopt the scalability solutions provided by the blockchain?
How do you plan to ensure a smooth launch given the current market conditions?
Will there be any incentives for those holding the coin? How do you plan to incentivize early buyers (NFTs, exclusive rewards, etc)?
Do you have a roadmap or a marketing delivery plan?
Defi aim to bank the unbaked by providing accessible and equitable financial service to all. The current Defi set up is yet to fully match up these goals. For example, the volatile market nature often results in over-collaterization by lenders because nothing is guaranteed, thereby undermining the objective of the lending and borrowing system in Defi. As a protocol that will offer lending, borrowing and ERC-20 token investments, how do you intend to democratise finance and provide a viable lending products for users financial consumption? In what way do you plan to provide a higher social and financial values to users with better terms?
You will Unify and standardize your growing Defi ecosystem by introducing a governance structure. However, your governance system will require that users hold a minimum of 800,000 $EQIFI before they can participate in it. Why did you set a minimum barrier of token to hold before user can participate in DAO? Don’t you think this will always give the majority holders the privilege to always have their way without an opportunity for the minority to have a say? On what range of DAO decisions will users be able to govern, and what will be required before a community vote is passed?
The centralization of finances seems to be coming to an end and projects like EQIFI aims to provide a seamless banking experience, can you tell us what solutions is bringing EQIFI to those countries with high rates of unbanked populations? Are your features designed to prevent hyperinflation and poverty?
Among your licensed services are listed credit cards, this is interesting due to the complications that exist today to carry out transactions with cryptos and collaterals that can be operated worldwide. Can you explain to us the scope of your credit cards, how they can be acquired and with what type of assets do they work?
One of the Licensed services of EQUIFI is Wealth management, and it is stated that there are various investment options available to help clients reach their financial goals within your wealth management service.. so what kinds of wealth management services does Equifi offer, what investment options do you have within your Wealth management service for your users and how are your wealth management services of benefit to your users..
Apart from the fact that EQUIFI will offer its users under-collateralized loans, this loans are also said to be insured, so how does Equifi Insure under-collaterized loans on its platform, and how do users get to apply for this under collaterized loans, what are the conditions to apply, for what assets do you offer this under-collaterized loans, and do you have a fixed collaterization ratio for this….
One of the benefits EQUIFI Tokens Holders get is the access to Priority Bank Accounts.. so how does this priority bank accounts differ from a regular bank account, and apart from this benefit what other specific forms of benefits do you offer to EQUIFI token holders who use your platform.
By harnessing the power of DeFi technology, EQIFI is positioned to become a global industry leader. Through blockchain technology, EQIFI democratizes financial products that were previously only available to a privileged few. What functions does the EQIFI protocol fulfill? Is the platform uniform in terms of its products? What are the products that EQIFI offers? Under what networks do you currently operate?
I don’t see any roadmap and the team behind Eqifi being laid down in your website,does your team is anonymous? Can you tell us some of the background of Eqifi Team? What do you want to achieve in Eqifi network for this year 2021? Can you share the Eqifi roadmap? Thank you
In your website,I don’t see any tokenomics of Eqifi. So,why does your platform is not yet have its own token? Does your platform has a plan to launch its own token in the future? If yes,when can we expect it to be launch in the market? Thank you
The EQIFI Yield Aggregator Product enables users to participate in a spread of high-yield farming
products. The product is said to be structured into fixed term as an
open ended product based on users’ needs. So how does the Aggregator Product aggregate and analyze market conditions to provide maximum flexibility and best interest for users?
EQIFI is a decentralized protocol for pooled lending, borrowing and investing. It also provides a single uniform platform for DeFi products with EQIBank bank accounts, loans… For a user that takes loan, When the loan is repaid the collateral is returned to the borrower and the principal and interest are paid to the lender on maturity. What uniqueness does your loan structure offer that gives you a competitive advantage over other loan providers and traditional centralized financial sector?
It is very interesting that you allow the community to participate in the decision making, what requirements should I have to have the power to participate in the future decisions of the project.
How much would be the reward I would have in the bonus for first users, and how many users do you currently have? To get the reward I must make a contribution or just for opening the account?
EQIBank Limited is the one behind supporting EQIFI, which will give you a great liquidity for this great project, to be part of the team, you will have to make a KYC, what kind of network and cryptocurrencies you plan to list and if you will have benefits such as yield farming and others offered by the Defi world.
One of the failures that have been observed with respect to the decentralization of some projects is in letting a person have a large percentage of a token, making it a huge influencer within the market. Being EQUIFI a decentralized project, could you explain what measures will you take to prevent the birth of whales? Do you have a security system in place to prevent bots from taking over $ EQX?
In the world of cryptocurrencies, there is a daily struggle to build a fully decentralized system to be able to get out of the banking yoke. Could you explain to me how EQIFI differs from a normal bank?
As the first Defi platform powered by fully licensed and regulated bank, Eqifi hopes to ease the opening of crypto/FIAT account integration and cards. How will your merge the Defi and CeFi set up together to create a robust system that will integrate traditional banking accounts and cryptocurrency without being at loggerhead SEC regulation and compliance? What will be the process to open crypto or FIAT accounts? Since you will allow the opening of multi-currency banking account, which currencies will you be able to support its account creation and are there any geographical locations restricted from your service? Will owners of these accounts be able to make cross-border/inter-banking transfers to other banks whose FIAT you support?
EQIFI is a platform with cryptocurrency ecosystem of traders, investors, developers, exchanges etc. Also EQIFI belongs their own yield aggregator & interest rate swap which help to exchange of a fixed interest rate of a variable rate. So there should be good team to launch such a platform like EQIFI. Do you have such a team really? If yes what are the future palns of the team to build up the platform?
Yield farming also included in EQIFI platform which is simple & allow any one to farm even newbies. Most of yield farming platforms release NFT system on their own for user compatibility and wealthy. Does EQIFI have an idea to release NFT system?If yes,when will it release? How about the APY that users can yield in EQIFI ? Is there any special offers for the users such as free token distribution?
EQIBank is a leading digital bank established in 2015 which have clients in more than 150 countries throughout the world. How is EQIFI to be a decentralized platform if the EQIFI forced by the EQIBank? Is it secure to invest in EQIFI platform while a third party appears? Did you have an audit for the smart contract? What is the reason for selecting ethereum blockchain system to operate EQIFI platform rather than the Bsc smart chain network ?
As stated from one of your recently published blog post, the EQX token is described as one of the most advanced and useful tokens to watch out for this year. As a utility token that runs the EQIFI ecosystem, $EQX is expected to address and meet the unreserved privileges for token holders to exercising their governance right. Can the Eqifi team clearly explain how the features of the developed EQX token would be considered as one of the most advanced, and how will the unique governance privileges of the EQX token strengthen user confidence and ease transactional limitations?
A couple of days ago, EQIFI announced it’s strategic partnership with Grand Rock Capital, a firm that provides business and financial consultancy services to customers. EQIFI hopes that the success of this partnership, would open up opportunities to several partnerships and collaborations with other reputable institutions. Therefore, how will this strategic partnership improve and strengthen EQIFI’s services, and what direct and indirect products/services would customers and users alike expect from such collaborations?
I read that Equifi provides a single uniform platform for DeFi products with EQIBank bank accounts, loans, custody, debit and credit cards, OTC, and wealth management. Please tell us more about the bank accounts and credit cards. Do you use centralized system to create bank accounts? What card provider do you use to issue credit cards and what are the borrowing fees for credit line? Do you accept both crypto and fiat as collateral for loans?
Multiple big and small DeFi projects suffered from the flashloan attacks recently. Do you have the flashloan function in Equifi platform smartcontract? Have you considered this attack vector and what are the defense measures you can use to guarantee safety of users’ funds? Thank you
Please share more details about EQIFi Yield Aggregator. You describe it as an automated aggregator of all leading external yield farming products, making yield farming simple and automatic. How exactly will it work? Will it have an auto compounding functionality to increase the effective yield APY? Do you take a small fee for convenience or is the yield the same as on the external farming platforms? Sometimes aggregators even offer higher yields than the external farms themselves, could this be the case with Qeuifi, if so, how does this scheme work, how do aggregators subsidize the difference in yield?
EQIFi is the first Defi project with a Regulated and Licensed Bank (EQIBank) offering different 4 Defi products:
lendings on fixed-rate and variable, swaps of interest rate and aggregator of Yield. Please explain all these products and services offered by EQIFI in a crystal clear way and how can EQUIFI tokens holders be benefited from this?
Equifi is a banking platform which offers various services and one of it is the debit and credit card. Any form of businesses nowadays mostly accepts credit and debit card as a payment. Will there be a physical debit/credit cards for users to own in the future where they can use it on physical stores and e-commerce?
Is Equifi recognized by the World Bank? How are transactions processed in Equifi? Will we be able to use this banking platform free and secure on our mobile devices?
Online banking is a trend nowadays especially today that e-commerce and online businesses are most utilized by people. However, this sudden popularity created an interest for hackers out there. In that case, how can we be secured that our assets are safe and cannot be rugged by any means? What safety protocols does Equifi have in order to promise a safe online banking for the users? Do users need to go under KYC before doing any transactions in the app?
I read that EQIBank offers its clients five interrelated types of services: online banking for individuals, online banking for companies, corporate bank, private bank, digital asset storage. Can you describe each service and how are they unique in comparison with other similar banks?
EQIFI has four DeFi products: fixed rate loans with fixed maturities, variable rate products, interest rate swaps and yield aggregator. But since EQIFI is a global banking system, do EQIFI customers have access to regular banking services, and what are they?
I see from your twitter that Eqifi is sponsoring Crypto event in Miami on 4th June until 7th June 2021 name with “Crypto After Dark”. So can you explain what kind of event or show that will be held on there? Also you mention to give Tickey Giveaway for your community, since its still tomorrow how do i able to participate in this tickey giveaway?
The EQIFI protocol is managed by the EQX token holders. The EQFI structure allows the community to maintain full control over all proposals, voting and implementation of changes. The community has the right to make proposals for new asset classes, interest rates and commissions. It oversees all the basic functions of the platform, including listing and delisting new asset classes and tokens, adjusting interest rates, changing collateral levels …. Have you given so much power to your community? Who can participate in management and voting, how many EQX tokens do you need? What is the structure of decision making and voting? And yet who has the “last word”?
Traditional banking is characterized by having a large infrastructure and giving “face-to-face” attention to its customers. But it have weakness and the biggest weakness are :
1.Operating expenses tend to be high in traditional banking
2.The slowness with which some of its processes are carried out.
3.Traditional banking commissions are higher due to their high operating expenses, which makes many of their products or services more expensive compared to other products or services of fintech companies.
So how Eqifi as DeFi which have Licensed Bank solve this problem from traditional bank?
COVID 19 has reduced many economies around the world but as a crypto business has it affected you negatively or positively??? Secondly are you still on track achieve your ambitious targets as the road map says?????????
Where can I buy your tokens right now what is your current contract and how can I buy them?Will you have any other DeFI feature like staking, yiekd farm or NFT in the future? Can share a little about your roadmap?
Why are you guys still anonymous? Why did you decide to be anonymous and in the future do you plan to go public?
I read that Eqifi is a decentralized protocol for pooled lending, borrowing and investing for ETH, Erc20 token, wbtc, and selected fiat currency. May i know why Eqifi choosing to work under Ethereum blockchain since we know that are already exist chain which more friendlier in fees like BSC, Heco or Solana? Can you explain how Eqifi manage the high gas fees that ETH chain have?
Your project deals with DeFi technology in plans for decentralized banking, which alone is a big stand against regular procedures. How do you plan to market to communities outside of crypto users who already know the concepts and values of such technology? How will you market to regular bank users who abide by the most conservative of ways?
It has been a big media strategy to create fuss about the “Dark Side of Decentralized Banking” claiming that the so-called owners hold great power and that the marketed “community control” is mostly false. To people who know little about coding and the crypto community, this might feel like a big warning. How would you counterattack against those claims, to gain the trust of the public?
According to your website, you are the first DeFi platform to partner with a licensed bank. Could you elaborate more on this partnership?
What differentiates the EQIFI platform from those that already exist on the market? How do you plan to attract users?
One of the problems I have with current platforms is how long it takes to list the new currencies, do you plan to do something about this?
In every new project, security is important to attract users, what has EQIFI done to guarantee the safety of users?