AMA with EQIFi’s CEO — Brad Yasar

Brad Yasar, the CEO of EQIFi, participated in the third EQIFi AMA on our Telegram channel on July 13th. He addressed community updates, goals for the second half of 2022, and worries about the current bear market and its impact on our project.

This was the third AMA in the executive team at EQIFi’s weekly series of AMAs designed to strengthen the bonds between our team and the EQIFamily.

If you weren’t able to attend the live event, you can see all the questions and responses below.

Q1. Last week it was said that the bank has uncorrelated revenue streams to crypto. Can you explain more about this?

Brad Yasar: Yes, of course. Because we are a hybrid defi/cefi business model we do have products and services that are not correlated to crypto, such as banking services, wealth management, etc. It is important to note in a downward crypto market that this helps with our revenue streams.

Q2. You also mentioned the long-term vision. How long is this, and where do you see it in that time?

Brad Yasar: Long-term vision for me has been where we see EQIFi and the financial sector as a whole in 5 to 10 years. Our goal was to build the EQIFi platform to be the nexus of ALL your financial needs in one easy-to-use place. We understood that this will take considerable investment and time (3 to 5 years) and planned for it. Now we are executing our plans and we are on track to deliver that vision in 3 years. But that is just the beginning; as we build, the world around us changes and we are also adapting our vision to today’s realities and creating new products and services that we couldn’t even imagine when we first started.

Q3. Being global and different countries have varying inflation rates. How does inflation work with EQIFI products? Or does it not?

Brad Yasar: Great question! Inflation affects local fiat currencies, so if you have products with us that are denominated in fiat, then inflation, of course, affects those products. If you have products in crypto, then the crypto market fluctuations may affect those, but you are shielded from inflations. We live in interesting and trying times in 2022, on one hand, you have a very volatile and bearish crypto market and on the other, you have high inflation devaluing fiat. It is a challenge to preserve and increase savings and that is why we have EQIFI. On-demand access to fiat liquidity with EQIBank in 180 countries and passive return on crypto with EQIFI, I hope everyone in the channel has at least tried out our products.

Q4. Will the community be updated on the Alpha Sigma coin purchase? Did it occur? If not, will it occur in phases? Will it be from the open market?

Brad Yasar: Yes, Alpha Sigma investment was announced right before the major market crash and was not consummated except for the initial tranche. The goal was to bring on a strategic partner that would be a growth partner for us. The tokens would have been purchased from treasury and not the open market. However, the deteriorating market conditions put the deal on hold. We have not and will not sell any tokens below $0.05, which has been the lowest price at our seed sale, and as a result, we are waiting on the conditions to improve to resume the conversations with ASC.

Q5. Any updates on the Big Announcement referred to in June?

Brad Yasar: will be shared by the communications team when it is time. All our schedules were pushed a few months due to the market conditions. Things that were scheduled to be finished in June were pushed into July/August. partnership conversation slowed down because of the market uncertainty, but we do have some amazing news that is coming in the next 5–6 weeks! Stay tuned!

Well, Simplex integration for crypto purchase with a card is live on the platform if anyone wants to log in and give it a try.

Q6. How will EQIFi endure the bear market? Can you tell us more about how EQIFi is sustainable?

Brad Yasar: Well, we expected a bear market to happen in EQIFi’s first 5 years of existence, so we are very careful about our approach to our products, services, and economics. That is why we didn’t create highly leveraged products, didn’t try to earn yield from third parties that we couldn’t DD and verify, and kept our conservative “banker mind” approach to DeFi. People compared us to Luna/UST, and look where they are now. They compared us to Celsius (even some of our investors) and looked at where that project is now. Many of our projects took risks last year because they wanted to grow faster than anyone else and grab as much capital as possible, but we didn’t! So we will grow at a pace appropriate to market conditions and strive through these uncertain times.

Q7. When are we likely to see integration and access of bank accounts within the EQIFi platform?

Brad Yasar: Easy questions :) By the end of this year — 2022!

We treasure the time we spend interacting with the people in our community and welcome any chance to do so!

Don’t miss our next event with EQIFi Chairman Jason Blick on Wednesday, July 20 at 10:00 AM PST, on EQIFi’s official telegram channel: t.me/eqifi. Get your questions ready!

See you soon!

The EQIFi Team

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DISCLAIMER

The following is a transcript of a live AMA session held in Telegram and represents the opinions of members of the team and has not necessarily been approved by legal counsel. Transcript and all content therein (this “Transcript”) is for information purposes only and may be subject to change. The transcript is of a live event and, as such, errors and omissions are accepted. This Transcript does not constitute an offer or solicitation to sell securities. Any such offer or solicitation will be made only by means that are in compliance with applicable securities and other laws. No information or opinions presented herein are intended to form the basis for any purchase or investment decision, and no specific recommendations are intended. Accordingly, this Transcript does not constitute investment advice or counsel or a solicitation for investment in any security. As such, this Transcript does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or any invitation to offer to buy or subscribe for, any securities, nor should it or any part of it form the basis of or be relied on in any connection with, any contract or commitment whatsoever. The full list of disclaimers can be found at https://eqifi.com/legal/disclaimers?locale=en-US

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

Certain statements in this Transcript constitute “forward-looking information” under applicable securities laws. In some cases, these forward-looking statements can be identified by words or phrases such as “may”, “will”, “expect”, “anticipate”, “aim”, “estimate”, “intend”, “plan”, “seek”, “believe”, “potential”, “continue”, “is/are likely to” or the negative of such terms, or other similar expressions intended to identify forward-looking statements. Forward-looking statements are provided to allow potential purchasers the opportunity to understand the Company’s beliefs and opinions in respect of the future, including forward-looking statements related to the Company’s proposed operating model. The proposed operating model speaks to the Company’s objectives only and is not a forecast, projection, or prediction of future results of operations. The forward-looking statements are not guarantees of future performance, and undue reliance should not be placed on them. Forward-looking statements are based on certain assumptions and analysis made by the Company in light of its experience and perception of historical trends, current conditions, and expected future developments and other factors it believes are appropriate.

These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual future results, performance, or achievements of funds, cryptocurrencies, or the Company to be materially different from any future results, performance or achievements expected, expressed or implied by such forward-looking statements. These factors include, but are not limited to: (a) changes in political, social, economic, and cryptocurrency market conditions, and the regulatory environment in the jurisdictions in which the Company conducts its businesses and operations; (b) the risk that the Company may be unable or execute or implement its business strategies and future plans; © changes in exchange rates of fiat currencies and cryptocurrencies; (d) changes in the anticipated growth strategies and expected internal growth of the Company; (e) changes in the future capital needs of the Company and the availability of financing and capital to fund such needs; (f) war or acts of terrorism; (g) occurrences of catastrophic events, natural disasters, and acts of God that affect the businesses and operations of the Company; (h) other factors beyond the control of the Company; and (i) any risk and uncertainties associated with the Company and its business and operations.

Although forward-looking statements contained herein are based upon what the Company believes are reasonable assumptions, forward-looking statements may prove to be inaccurate, as actual results and future events may differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or the Company’s estimates or opinions should change, except as required by applicable laws.

USER CONTENT DISCLAIMER

We do not own, control or endorse any User Content that is transmitted, stored, or processed in our Telegram Group. We are not responsible or liable for any User Content. Although we have no obligation to screen, edit or monitor User Content, we reserve the right, and have absolute discretion, to remove, screen or edit User Content posted at any time and for any reason.

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EQIFi

EQIFi

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EQIFI democratizes financial products previously only available to the privileged few.