We were delighted to welcome our guest from Eqifi. The AMA took place on June 3rd, 2021 and our guests were @bradyasar and @CEOEQIBank! <\/p>\n\n\n\n
The total reward pool was 500$ and\nwas divided into three parts. In this AMA Recap we will try to summarize some\nof the most interesting points for you.<\/p>\n\n\n\n
Gold\nRocket | Satoshi Club: <\/strong>Hello again, dear Satoshi Club community! We\nconclude our today’s AMA marathon series with Eqifi.<\/p>\n\n\n\n Paul\nMont | Satoshi Club: <\/strong>Hello Satoshi Clubbers! 😁 Today\u2019s\nguests are @bradyasar and @CEOEQIBank!<\/p>\n\n\n\n Paul\nMont | Satoshi Club: <\/strong>Welcome Brad and Jason! It’s great to have you here\nat Satoshi Club!<\/p>\n\n\n\n Brad\nYasar: <\/strong>Hello. Thank you for having us over \ud83d\ude42<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>Hello and welcome to Satoshi Club, @bradyasar\nand @CEOEQIBank!❤️<\/p>\n\n\n\n Paul\nMont | Satoshi Club: <\/strong>Hello Brad, thanks for being with us 😉<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>How are you doing?<\/p>\n\n\n\n Brad\nYasar: <\/strong>I m doing well. Thank you! How is the Satoshi Club doing?<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>We grow and develop thanks to such interesting\nprojects as yours 😊<\/p>\n\n\n\n Paul\nMont | Satoshi Club: <\/strong>I guess our Satoshi Clubbers are already feeling\nexcited to learn more about EQIFI 🚀<\/p>\n\n\n\n Brad\nYasar: <\/strong>The feeling is mutual!<\/p>\n\n\n\n Paul\nMont | Satoshi Club: <\/strong>Let’s start, shall we? 😉<\/p>\n\n\n\n Brad\nYasar: <\/strong>please<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>Introduce yourself please. How did you get to\nbe involved in crypto & Eqifi?<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>These stories are always interesting to me..\nhow a person first learned about bitcoin.. how he bought… how he sold 😁<\/p>\n\n\n\n Brad\nYasar: <\/strong>As you already know, my name is Brad and i got involved with crypto very\nearly on with Bitcoin. I got introduced to it by a friend of mine and fell in\nlove with it. Fast forward to last year and my partner Jason and I were talking\nabout what we can build to solve problems we saw in the DeFi and digital\nbanking spaces and the idea of EQIFI was born.<\/p>\n\n\n\n Jason\nBlick: <\/strong>My name is Jason, I got involved with crypto in 2015, shortly after I\nlaunched EQIBank – the World’s Digital Bank providing banking services to 180\ncountries, with a focus on crypto cliens<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>You are involved in mass adoption in the\nbanking industry. It is very promising👍<\/p>\n\n\n\n Paul\nMont | Satoshi Club: <\/strong>Specifically, which of problems that you’ve\nexperienced prompted you to say “Let’s do it and contribute to improve the\nDeFi for the best!” ?<\/p>\n\n\n\n Brad\nYasar: <\/strong>That was Jason \ud83d\ude09<\/p>\n\n\n\n Paul\nMont | Satoshi Club: <\/strong>Hello Jason, welcome to Satoshi Club 😁🔥<\/p>\n\n\n\n Brad\nYasar: <\/strong>Well the main problem for the DeFi community which we are a part of was\nadequate banking facilities to allow DeFi founders, entrepreneurs, investors\nand consumers t be able to access that value created in their daily lives<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>Nice to meet you😁 Jason<\/p>\n\n\n\n Jason\nBlick: <\/strong>Nice to meet everyone here<\/p>\n\n\n\n Brad\nYasar: <\/strong>The problem on the banking side is increasingly low and insignificant\nreturns on people’s fiat savings. so figured by bridging the two we can address\nboth those issues.<\/p>\n\n\n\n Jason\nBlick: <\/strong>We launched EQIFi as people wanted the widest selection of lending,\nborrowing and investment products on a single platform powered by a world class\nLicensed and Regulated Bank.<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>These are very ambitious goals.👏<\/p>\n\n\n\n Brad\nYasar: <\/strong>yes and we want to have a big positive impact in the space.<\/p>\n\n\n\n Jason\nBlick: <\/strong>We have an amazing team with over 200 years experience of running major\nBanks, plus an amazing tech team led by Brad<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>Btw we would like to know about your team. Who\nis on the project team core?<\/p>\n\n\n\n Paul\nMont | Satoshi Club: <\/strong>These are undeniable issues – putting on the\nconsumer shoes I’m glad that someone capable and professional is trying to\naddress them 👍🙏<\/p>\n\n\n\n Jason\nBlick: <\/strong>Between EQIBank and EQIFI we have over 60 staff all focused on providing\nthe very best service and products in banking and DeFi.<\/p>\n\n\n\n Brad\nYasar: <\/strong>Jason, me, Ioana, David, Frank, Eli, Adam, Annelie, Stephanie and the\nlist goes on…<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>I love your customer care<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>Dream team😁👍<\/p>\n\n\n\n Paul\nMont | Satoshi Club: <\/strong>Also guys, where are you currently based at?<\/p>\n\n\n\n Brad\nYasar: <\/strong>We will have an updated team list on the website soon<\/p>\n\n\n\n Jason\nBlick: <\/strong>Yes, in EQBank we have Relationship Managers for each Premier Client – a\nfirst for any digital bank. We provide amazing banking services to holders of\nEQX Token Holders<\/p>\n\n\n\n Paul\nMont | Satoshi Club: <\/strong>You already deserve a plaudit for being completely\npublic and transparent. It\u2019s not a thing to take for granted in the crypto\nworld and already helps building a lot of trust from the very beginning😉<\/p>\n\n\n\n Brad\nYasar: <\/strong>Thank you. Transparency and Accountability are pillars of our\norganization.<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>Do your users need to pass KYC?<\/p>\n\n\n\n Jason\nBlick: <\/strong>Thanks Paul. As a leading Bank we are required to have monthly audits and\nconstantly meet the public requirements of our Regulators. For example, our\nAuditors are BDO etc.<\/p>\n\n\n\n Jason\nBlick: <\/strong>Yes, our users do need to meet KYC stanards. We want to add security and\nmaturity to the DeFi space. This also allows us to open Bank accounts for our\nEQIFi clients.<\/p>\n\n\n\n Brad\nYasar: <\/strong>Depending on the type of products they want to access there will be varying\ndegrees of KYC requirements.<\/p>\n\n\n\n Paul\nMont | Satoshi Club: <\/strong>Thanks for this great introduction 😉<\/p>\n\n\n\n Paul\nMont | Satoshi Club: <\/strong>We have collected some community questions to learn\nmore about EQIFI, are you ready to go?<\/p>\n\n\n\n Gold Rocket\n| Satoshi Club: <\/strong>Well! Thank you very much for the great intro guys. 😊<\/p>\n\n\n\n Brad\nYasar: <\/strong>let’s do it<\/p>\n\n\n\n Jason\nBlick: <\/strong>We are ready!<\/p>\n\n\n\n Q1 from Telegram User @surendra040 <\/em><\/strong><\/p>\n\n\n\n EQIFi is the first Defi project with a Regulated and\nLicensed Bank (EQIBank) offering different 4 Defi products:<\/em><\/p>\n\n\n\n lendings on fixed-rate and variable, swaps of\ninterest rate and aggregator of Yield. Please explain all these products and\nservices offered by EQIFI in a crystal clear way and how can EQUIFI tokens\nholders be benefited from this?<\/em><\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>@surendra040 prepared well 😁<\/p>\n\n\n\n Jason\nBlick: <\/strong>Thats a great question and an expansive one. Give me 2 mins to reply<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>Take your time please😊<\/p>\n\n\n\n Brad\nYasar: <\/strong>First of all, we are EQIFI and there is another project with the ‘u’ in\nthe name so let’s not confuse the two.<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>Oh<\/p>\n\n\n\n Jason\nBlick: <\/strong>With EQIFI, the entire digital asset, blockchain and cryptocurrency\necosystem of traders, investors, developers, exchanges and app users may borrow\nagainst multi-type assets without selling. dApps may borrow assets for use in\nthe Ethereum ecosystem without waiting for an order to close or requiring\noff-chain activity. Similarly, speculators may deploy a variety of trading\ntechniques, including shorting, to maximise their opportunity, while miners may\nborrow against an extensive selection of collateral. <\/p>\n\n\n\n EQIFI is a decentralized protocol for pooled lending, borrowing, and\ninvesting for ETH, ERC-20 tokens including wBTC, Stablecoins, and select \ufb01at\ncurrencies. It provides a single uniform platform for DeFi products with\nEQIBank bank accounts, loans, custody, debit and credit cards, OTC, and wealth\nmanagement. EQIFI consists of four products on a single platform: <\/p>\n\n\n\n – Fixed Term Products <\/p>\n\n\n\n – Variable Rate Products <\/p>\n\n\n\n – Interest Rate Swaps (Re\ufb01nancing)Yield Aggregator<\/p>\n\n\n\n Jason\nBlick: <\/strong>The community has full control over all core functions, including but not\nlimited to: <\/p>\n\n\n\n \u25cf Listing or delisting new tokens and asset types – The community may add\npromising new tokens or block high-risk ones. <\/p>\n\n\n\n \u25cf Adjusting interest rates per the market, within commercial variable\nlevels. The interest rates will be per EQIFI token. <\/p>\n\n\n\n \u25cf Adjusting collateral limits – increased or decreased to an extent,\nbased on the volatility of a token. Collateral limits are per token. <\/p>\n\n\n\n \u25cf Choosing a new administration (i.e., a DAO controlled by the community)\n<\/p>\n\n\n\n \u25cf Pausing deposits or loans for a reasonable amount of time – This may\nprovide more consistency in the protocol in case of high volatility. <\/p>\n\n\n\n Governance Voting <\/p>\n\n\n\n \u25cf Any holder of 800,000 or more EQIFI Tokens may propose governance\nactions in executable code. <\/p>\n\n\n\n \u25cf The community then has 72 hours to vote on the change. <\/p>\n\n\n\n \u25cf If a majority vote is secured, the outcome is logged in Time Lock and\nwill be executed after three days. <\/p>\n\n\n\n Some changes will automatically affect the protocol after voting has\nended, while others might need some implementation changes or input from the\nsystem’s administration.<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>A lot of features👏<\/p>\n\n\n\n Paul\nMont | Satoshi Club: <\/strong>Thank you Jason for the comprehensive answer, I’m\npretty sure @surendra040 will be satisfied 😉<\/p>\n\n\n\n Brad\nYasar: <\/strong>This is just the beginning<\/p>\n\n\n\n Paul\nMont | Satoshi Club: <\/strong>You’re also providing a Yield Aggregation service,\nright?<\/p>\n\n\n\n Jason\nBlick: <\/strong>Yes! We really wanted to create the very best DeFi company in the world.\nWe have been voted a top 5 DeFi company 7 times!<\/p>\n\n\n\n Paul\nMont | Satoshi Club: <\/strong>Now, that’s impressive, congratulations guys! 🥇🚀💎<\/p>\n\n\n\n Jason\nBlick: <\/strong>Yes, we have an amazing Yield Aggretor product. With a full team of\ninvestment advisors plus amazing tech.<\/p>\n\n\n\n Brad\nYasar: <\/strong>yes, we are. we want to grow the defi ecosystem as a whole and bring new\nusers into the space without them having to learn about multiple blockchains,\nwallets, etc.<\/p>\n\n\n\n Jason\nBlick: <\/strong>The EQIFI Yield Aggregator Product enables users to participate in a\nspread of high-yield farming products across the entire DeFi industry,\nincluding stakes in EQIFI Fixed Rate Products, EQIFI Variable Rate Products and\nEQIFI Interest Rate Swaps. It is designed to algorithmically maximize the\nreturn to the user based on market conditions.<\/p>\n\n\n\n Brad\nYasar: <\/strong>Thank you we are excited and humbled by the reception our project had<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>the scale is really impressive 😁<\/p>\n\n\n\n Paul\nMont | Satoshi Club: <\/strong>By the way, the next community question is just\nabout EQIFI’s Yield Aggregator. Let’s hop onto it 🙂<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>The scale of your ambitious plans 😁<\/p>\n\n\n\n Jason\nBlick: <\/strong>To further expand on our Yield Aggregator. The EQIFI Yield Aggregator\nProduct offers a unique competitive advantage based on its ability to aggregate\nand analyze market conditions, and forecast future market movements. EQIFI\nAnalytics Engine is proprietary system designed to execute automatic market\nanalysis leveraging 6 key systems based, in part, on the transparency of\nblockchains and the advantage afforded by public votes on DAO\u2019s that dictate\nthe \ufb02ow of liquidity between products (essentially giving EQIFI the opportunity\nto potentially anticipate market changes). EQIFI Analytics Engine is designed\nto leverage: <\/p>\n\n\n\n \u25cf Predictive analytics <\/p>\n\n\n\n \u25cf Machine learning <\/p>\n\n\n\n \u25cf Signal processing <\/p>\n\n\n\n \u25cf Prescriptive analytics <\/p>\n\n\n\n \u25cf PESTLE <\/p>\n\n\n\n \u25cf Scenario planning<\/p>\n\n\n\n Paul\nMont | Satoshi Club: <\/strong>Proprietory? You’ve built the service in-house? 💎<\/p>\n\n\n\n Jason\nBlick: <\/strong>Our Yield Aggregator is principally a proprietary product set, but we are\nadding additional functionality by partnering<\/p>\n\n\n\n Brad\nYasar: <\/strong>we are building a lot of the parts of the platform from scratch. where it\nmakes sense to have partnerships we explore those as well (for example, our\npartnership with chainlink for price oracles)<\/p>\n\n\n\n Paul\nMont | Satoshi Club: <\/strong>These are the kind of things that personally get me\nexcited in crypto, especially given all the potential “outsourcing”\noptions in the space. A great way to show the commitment of a project to the\nvalue proposition they want to bring to truly revolutionize the market.<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>It’s a good strategy😊<\/p>\n\n\n\n Paul\nMont | Satoshi Club: <\/strong>So, really, great job guys 😉<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>I suggest to proceed to the next question😉<\/p>\n\n\n\n Jason\nBlick: <\/strong>We are 100% commited to raising the standard of DeFi and completely\ninclusive – by working with all leading market players<\/p>\n\n\n\n Brad\nYasar: <\/strong>Thank you, we are blessed that we have the technical know-how and the\nresources to build everything we need from ground up and ensure it is built\ncorrectly the first time around.<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>Awesome👍<\/p>\n\n\n\n Paul\nMont | Satoshi Club: <\/strong>Thank you for detailed and exciting answers! 🔥<\/p>\n\n\n\n Paul\nMont | Satoshi Club: <\/strong>Question nr. 2 is ready for your answers, are you\nready to go?<\/p>\n\n\n\n Jason\nBlick: <\/strong>We are ready!!<\/p>\n\n\n\n Q2 from Telegram User @andrey_seleznov<\/em><\/strong><\/p>\n\n\n\n Please share more details about EQIFi Yield\nAggregator. You describe it as an automated aggregator of all leading external\nyield farming products, making yield farming simple and automatic. How exactly\nwill it work? Will it have an auto compounding functionality to increase the\neffective yield APY? Do you take a small fee for convenience or is the yield\nthe same as on the external farming platforms? Sometimes aggregators even offer\nhigher yields than the external farms themselves, could this be the case with\nQeuifi, if so, how does this scheme work, how do aggregators subsidize the\ndifference in yield?<\/em><\/p>\n\n\n\n Paul\nMont | Satoshi Club: <\/strong>Even though I think you’ve already answered it for\nthe most part 😉<\/p>\n\n\n\n Jason\nBlick: <\/strong>Good question. The EQIFI algorithmic trading BOT takes positions designed\nto maximize returns across all underlying farming protocols. EQIFI Yield\nAggregator Product is structured into \ufb01xed term as an open ended product based\non users\u2019 needs:<\/p>\n\n\n\n 1. Open Ended. Our \ufb01xed yield product ensures maximum \ufb02exibility to users\nwho need continuous access to their funds. It provides a compounded variable\ninterest rate which is added weekly to the staked amount. All users can\nwithdraw their funds at any time either partially or the entire amount without\nlosing the interest earned up until that week.<\/p>\n\n\n\n 2. Fixed Term. The EQIFI Fixed Term Yield product is structured to\nprovide the best interest for users who deposit funds for a prede\ufb01ned period,\nallowing the user to roll-over the amount or to withdraw the funds. The\ninterest is computed at maturity date and if the amount is rolled over then it\nis compounded.<\/p>\n\n\n\n Brad\nYasar: <\/strong>Great question and Andrey at this point, we do not wish to disclose our\nsecret sauce for everyone to copy more than what we already shared. i hope you\nunderstand. \ud83d\ude09<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>Yes thanks a lot! do you want to add\nsomething? or jump further?<\/p>\n\n\n\n Paul\nMont | Satoshi Club: <\/strong>So is it correct to say that it’s a product that can\ncan be tailored according to any user’s risk preferences?<\/p>\n\n\n\n Brad\nYasar: <\/strong>yes, for most users that statement is correct<\/p>\n\n\n\n Brad\nYasar: <\/strong>we can continue, great questions so far<\/p>\n\n\n\n Paul\nMont | Satoshi Club: <\/strong>Thank you, next question incoming 🚀<\/p>\n\n\n\n Jason\nBlick: <\/strong>We will look to expand the functionality of our Yield Aggregator in due\ncourse to meet the needs of those looking for Alpha or Beta growth<\/p>\n\n\n\n Q3 from Telegram User @Jonahapagu<\/em><\/strong><\/p>\n\n\n\n Apart from the fact that EQUIFI will offer its users\nunder-collateralized loans, this loans are also said to be insured, so how does\nEquifi Insure under-collaterized loans on its platform, and how do users get to\napply for this under collaterized loans, what are the conditions to apply, for\nwhat assets do you offer this under-collaterized loans, and do you have a fixed\ncollaterization ratio for this\u2026.<\/em><\/p>\n\n\n\n Jason\nBlick: <\/strong>EQIFI Fixed Rate, Variable Rate, and Interest Rate Swap Products feature\nautomatic lender protection built into the smart contract system. Each Product\nfeatures industry leading LTVs which are further enhanced by holding EQIFI\nTokens. If the fair market value of the underlying collateral drops below the\nprescribed LTV at any Valuation Stamp, the system will take remedial action.\nThe further protect investors we are looking at open market, syndicated or\ncaptive insurance.<\/p>\n\n\n\n Brad\nYasar: <\/strong>we are working with a few third parties to explore insurance options that\nwould be available to our users. Since it is our goal to bring fresh new users\ninto the DeFi space, we understand the importance of putting our users’ minds\nat ease when it comes to using our DeFi products for the first time. We will\ndoing our best to ensure that.<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>Do you plan to write any guides to make life\neasier for the user😊<\/p>\n\n\n\n Brad\nYasar: <\/strong>yes, we will<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>Don’t forget to share with Satoshi Clubbers😉<\/p>\n\n\n\n Paul\nMont | Satoshi Club: <\/strong>How holding (or staking?) EQX tokens will manage\nimprove the LTV a user can get obtain for its loan?<\/p>\n\n\n\n Brad\nYasar: <\/strong>now that you have accepted us to be a part of your family, we consider\nyou the same and of course we wont<\/p>\n\n\n\n Jason\nBlick: <\/strong>Yes! We have already filmed one introduction to our products and we are\ncreating 4 other videos to explain each product in detail. Those videos are\nbeing filmed now. These complemet our written user guides<\/p>\n\n\n\n Paul\nMont | Satoshi Club: <\/strong>This is great, especially given the natural\nutilization barrier represented by creating a user-friendly experience enough\nin the crypto space! Adoption will surely follow 😉<\/p>\n\n\n\n Brad\nYasar: <\/strong>EQX tokens are the engine of our platform, they allow for our users to\nget better rates, higher limits and access to premium products when used and\nstaked.<\/p>\n\n\n\n Brad\nYasar: <\/strong>you can see a much mor details explanation of how EQX tokens benefit the\nholders and users in our whitepaper<\/p>\n\n\n\n Paul\nMont | Satoshi Club: <\/strong>Thank you for the clear answers, are you ready to\nproceed with the next question?<\/p>\n\n\n\n Jason\nBlick: <\/strong>We are ready!<\/p>\n\n\n\n Q4 from Telegram User @Xusuo<\/em><\/strong><\/p>\n\n\n\n I see from your twitter that EQIFI is sponsoring\nCrypto event in Miami on 4th June until 7th June 2021 name with \u201cCrypto After\nDark\u201d. So can you explain what kind of event or show that will be held on\nthere? Also you mention to give Ticket Giveaway for your community, since its\nstill tomorrow how do i able to participate in this ticket giveaway?<\/em><\/p>\n\n\n\n Jason\nBlick: <\/strong>Im afraid we have already distributed all our tickets for the event\ntomorrow. We gave them to our amazing EQIFI Telegram members<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>Oh what a pity😊What other\ncommunity promotion options do you have or are planning😉<\/p>\n\n\n\n Brad\nYasar: <\/strong>We have a few things in the work that we will announce when ready<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>Satoshi Club will gladly support any of your\nactivities🚀<\/p>\n\n\n\n Paul\nMont | Satoshi Club: <\/strong>One of those things is EQIFI’s upcoming public\nsale\/IDO event perhaps? 😁<\/p>\n\n\n\n Brad\nYasar: <\/strong>We want to engage with our global community as much as we can given COVID\nrestrictions<\/p>\n\n\n\n Brad\nYasar: <\/strong>Yes it is<\/p>\n\n\n\n Paul\nMont | Satoshi Club: <\/strong>Great, please keep Satoshi Club in the know! 😉🔥<\/p>\n\n\n\n Gold\nRocket | Satoshi Club: <\/strong>Thanks! Ready for the next question? 😉<\/p>\n\n\n\n Jason\nBlick: <\/strong>We will ensure your great community is kept upto date on all our give\naways and in particular details of our public sale\/IDO<\/p>\n\n\n\n