On Friday, 1st of July, EQIFi’s CTO, Ioana Frincu, attended the EQIFi AMA on the Official Telegram channel, talking about what the tech team is working on at the moment, further platform and product updates and EQIFi’s milestones for this year.
This was the second AMA session from the weekly series of AMAs hosted by EQIFi’s executive team, aimed at bringing our team closer to the EQIFamily.
If you missed the live event, you can check out all the questions and answers below.
Q1. Can you give a run down of the Tech team that operates behind the scenes?
Ioana Frincu: Our tech team is split between 4 types of developers: backend & blockchain developers, frontend developers, mobile devs, and DevOps. Each group has multiple members and they are split per product. Additionally, we have a product manager and a project manager together with a Quality Assurance team.
For example, 1 product can have 2 backend devs, one frontend dev, and 1 mobile dev.
We have approximately 20 members in the tech team, management included.
Q2. What’s being built currently and what is the priority to be completed?
Ioana Frincu: Right now we are working on adding BSC portfolios to the yield aggregator. We are also at the beginning of integrating other blockchains.
We will add some new tokens too, starting July.
The current market downfall has changed our plans a bit and we had to re-arrange our roadmap but everything goes well.
PS: If you check the platform and the mobile app, you can now buy EQX with a credit card :) (iOS version is under review).
Q3. For EQIFI’s milestones, are we on track? If so, is there more to get added?
Ioana Frincu: We are very agile and we do our best to move fast. Of course, the way the global ecosystem moves also changes our plans from time to time, but I believe we are getting there faster than the competition.
Our main milestones for this year are:
- Integrate with partners coming to the platform and list our token with them too.
- Add Avalanche, Solana & Elrond to the platform.
- Improve the product offering.
Q4. When integrations with other blockchains occur. What happens if the chain is down? For example Solana has had outages multiple times.
Ioana Frincu: If a chain is down completely, there is not much you can do. However, these situations are rare and not over a whole blockchain.
The most important thing is to have the right price oracles and then we prepare transactions and push them when the network is up again.
This is the cost of innovation (and it used to be much worse).
Q5. Is there any more information on EQIFI in the Metaverse?
Ioana Frincu: We have partnered up with multiple metaverse companies and will continue to do so. We also analyze the possibility to integrate metaverse-related elements into the platform, including NFTs.
I would love to give even more information on this, but I believe that my colleagues from Marketing are the ones who decide when and what we launch.
Q6. It was mentioned previously about High Tech DeFi Insurance solutions. Can you explain more on what this means?
Ioana Frincu: We manage our custody with institutional partners, such as Ledger Vault. This means that our funds are insured for a couple of hundred million dollars.
At the same time, we are working with 3 more partners now to analyze more solutions and insure even more funds against different exploits.
It is a long process since we need to analyze their offering, then assess our code and then make a decision to follow or not follow through with them.
Q7. What is the vision of this project ?
Ioana Frincu: On our website. you can look it up :) https://eqifi.com/about-us
Q8. I saw that many projects were unstable for a short period of time. At first, they started with hard work & good attention, but a few months later they didn’t pay attention to the project. Then it ended there. How do plan to survive in the market?
Ioana Frincu: We are approaching our 1 year anniversary. During this year we have built innovative products and partnered up with multiple companies.
Our team is focused on building fast and managing expectations as well as we can.
There are the things we control, such as our workload, product ideas, and user experience.
There are also things we do not control, such as the recent crashes in the market.
Execution makes the difference between projects which make it and those that do not. I would rather execute slower and more strategically, than fast and with no plan.
You will see some interesting updates from our team in the coming month as well as some community inquiries on the product side from my marketing colleagues.
Q9. Marketing strategy is very important. A product can be established on the market without marketing and promotion, whatever it is good. So what are your plans for this? How will you build strong relationships with communities?
Ioana Frincu: I am the CTO, so marketing questions should rather be directed at my colleagues. What I can tell you is that I have a list of community requests and ideas and I am always open to receiving information and suggestions and most of the time they get to be live on the platform in a few weeks.
Q10. Collaborations and partnerships are some of the most important cornerstones to help improve adoption. Could you please tell us about your current partners, plans for partnerships and what everybody stands to gain from these partnerships?
Ioana Frincu: You can check out all of our partnerships in the roadmap: https://eqifi.com/roadmap
We update the roadmap every 2 weeks, so the best is to check there.
We will also publish more blog posts on each new partner, starting next week so be sure to check out our blog.
Q11. Will you be looking to provide additional use case for the EQX token when introducing new products and applications to the platform?
Ioana Frincu: Hi! Yes, of course. We are partnering up with 2 new companies this week to offer nice use-cases for 2 industries. I wish I could tell more, but you will see it on our blog. We have been baking these partnerships for a while and they’ll be really interesting.
We enjoy our time spent chatting with our community members, and we look forward to every opportunity to do this!
Don’t miss our next event with EQIFi CEO Brad Yasar on Wednesday, July 13th at 10:30 AM PST, on EQIFi’s official telegram channel: t.me/eqifi. Get your questions ready!
See you soon!
The EQIFi Team
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
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