On June 6th 2022, our community had a chance to welcome Mr. Anshu Agrawal – CEO / Co-Founder of Flint to join an AMA to deliver fruitful information about the key features and roadmap of the project.
This AMA was held by CryptoFamily Group – the top crypto community in Vietnam, where investors and traders can obtain the latest news and signals from bot/ admins, as well as discuss and share investment experiences in the crypto space.
Flint (https://www.flint.money/) is building you a home in the world of crypto.
At this AMA, Mr. Anshu Agrawal directly greeted the community and provided detailed information on the project as well as some exciting events that will be held in the near future.
Time: 19:00 PM (UTC+7) | Monday, June 06th, 2022
Venue: https://t.me/CryptoFamilyVN
Reward Pool: $200 for members with the best questions.
Below are some main points of this AMA session:
PART I: OVERVIEW QUESTIONS
- Could you please tell us about yourself and key features of Flint.money app? What was the inspiration behind the idea of this project?
Flint: I am a crypto trader since 2017, and have been an early adopter of a lot of DeFi protocols and other innovations happening in this space. Prior to establishing Flint, I was leading the product team at India’s largest fintech company called CRED, which is currently valued at $6.5Bn. I was a very early team member there (3rd product manager, now CRED has 100 product managers), and built out CRED’s entire wealth management business.
Having monitored the space closely, we figured out that the experience of using web3 products for the crypto natives needs an uplift. Most of the projects focused for the crypto natives have a bad UX, pre-mature optimisation for token price before optimising for value creation, and no one is solving for trust. So we decided to build Flint, where we will be bringing together accesss to a lot of crypto products for the crypto natives in a seamless smartphone experience. We’ve been working hard on the feedback received through our beta app for the last few months and today – are announcing a broader rollout. Our first product is a yield generation app on asset backed stablecoins (eg., USDC/USDT). Investors can park their asset backed stablecoin in our custodied solution and earn a 10% yield. This has been built in close partnership with FTX to provide top notch security and custody.
Along with this, we are pushing out yield on a lot more tokens in a couple of weeks, will be adding on-ramp and crypto swaps, and price tracker soon.
- Can you introduce some competitive advantages of Flint compared to other applications in the current crypto market?
Flint: Following are the choices we have taken which is a competitve advantage in the long run:
- best in class product experience on the mobile app
- focus on trust and transparency
- top class risk management practises by an experience team
- more features apart from yields to cover all your crypto usecases
- large set of upcoming wealth products across different risk and returns spectrum. Unlike others, we are not going to have just a basic interest account. We have wealth products in plan for everyone.
- Could you share with us some latest updates or big events to gain more attention in the near future?
Flint: Some upcoming things are:
- Adding smooth on-ramps for Vietnam
- Announcing exciting returns on a lot of tokens soon
- Working on new referral constructs to give flexibility over different reward types
- Announcing swap feature so that you don’t have to go elsewhere to convert your tokens
- SIP feature
PART II: PRE-COLLECTED QUESTIONS FROM TWITTER
- From @Alley19399335x
Investing in a stablecoin platform and earning passive income seems not to be a novel idea, it even attract a large number of users with high returns (up to 20% a year). So how can you convince newcomers to choose Flint to invest ? What are your extension plans in the future?
Flint: That’s a great question. I have already tried answering the extension plan with my answers above. Please let me know if you folks need me to add more.
Let me take a honest shot at answering the differentiator question:
We are generating returns from a new method which is safer than what other do, that’s margin lending. More importantly, our risk management practises are more robust, and our product experience is 2x better than any other app out there. As mentioned, we are working on bringing new offerings with different risk-reward spectrum which other apps don’t offer.
- From @DonnetteLindsey
Recently the unpegging event of UST, which is an algorithm stablecoin and the collapse of Terra ecosystem has caused a great uproar. The question is, how can investors rest assured about the safety of their assest, and the reliability of stablecoins on the market now?
Flint: We are super transparent about our investment strategies and update it regularly so that you have complete visibility. We also hear our users and they also have a voice regarding our investment strategies. If they feel uncomfortable about it, we are always available to chat more and incorporate their feedback. This is also a differentiator from other products. We are building with the community and with their inputs.
- From @Al32k
We know a lot of new projects are very attractive at first and bring different rewards but are suddenly abandoned. My question is, how do you manage projects and tokens to get a place in the market and become the best token in the cryptocurrency world?
Flint: We also have faced this as users of different projects, and this is exactly what we strive to solve for. And hence, to ensure our incentives are always aligned towards producing value for our users, and not towards optimising for our token price, we have not launched our token yet. We want to launch it only after we have proven for a good time that we are able to produce great value for our users
- From @FeatherRacquel
What innovative features does your platfrom plan to bring to the tourism industry and deal with the current industry challenges? Is the platform really user-friendly even for non crypto-native users? What payment methods are supported on this platform?
Flint: We haven’t planned anything around the tourism industry yet, but we are more than happy to get your suggestions. Yes, the platform is absolutely seamless and smooth for even the non crypto native users. However, we are currently focused on building a great set of products for the natives and will then expand to non natives.
- From @Ashleyhanna33
The current market conditions create uncertainty and increase the level of vulnerability that scares investors, how can you mitigate and deal with the effects of these conditions so that your project can come out of the water and be sustainable in the long term?
Flint: Understood. Definitely the times are tough, and as they say, tough times create resilient people, we are here to build a resilient project for the upcoming decades.
Answer to all the uncertainity in life is usually around being trustworthy, which comes from transparency. We are not the ones who are dishonest or hide the situations. We are here to build with the community, and will always be very transparent about what we are doing and how we are thinking ahead. Being transparent is the best solution to answering uncertainity.
I hope that answers your question of how we are thinking ahead.
PART III: BEST LIVE QUESTIONS IN CRYPTO FAMILY GROUP
- According to the roadmap, what are your most important next priorities? Does your team have enough funds and strong community to achieve those milestones?
Flint:
Hi – Our most important next priorities are getting on-ramp up in crypto enthusiastic nations like Vietnam and bring interest on a lot of more tokens like BTC, ETH, AVAX, UNI, etc.
We are sufficently well funded and are also a revenue generating company. As of today, we have close to $7M in our bank accounts and are also in talks to raise our next round of funding in the next few months.
- Did you consider community feedback/requests during the creation of your product in order to expand on fresh ideas for your project? Many projects fail because the target audience and clients are not understood. So I’d like to know who your ideal consumer is for your product?
Flint:
Absolutely, everything we have built till date has been built after consultation with our community. In fact we also have an exclusive telegram group of a select few members who are our power users, and we constantly chat with them everyday to chart out our product roadmaps.
- Hello @anshu_agrawal Are you afraid some day there will be another project with more innovative technology can replace your project ?
Flint:
Honestly, yes. As a founder, this is one of the things that keeps me up at night, and everyday pushes our team to innovate.
As they say, ‘Only the paranoid survives’. And we are always paranoid about not being fast enough in our innovations. And this is our biggest motivation.
- How can users stay updated with this project? Are there channels, including local communities where users can get the latest updates?
Flint:
Hi, please join our channel here: https://t.me/Flintdotmoney
to stay updated with new happenings. Along with this, we are also in the process of setting up local communities in a lot of nations like Thailand, Turkey, Vietnam, etc.
- Have you being audited ? Have not heard you talk about that security of funds is what every investor craves for and plans to escape incase of insecurity if funds,scams and rug pulls ? How strongly built are your security put in place?
Flint:
Custody:
In special association with FTX, Flint has arranged for the best-in-class custody. This means that your funds are now secured and guarded under the watch of the best engineers at FTX.
Security: Pingsafe and AWS
Our cloud and infra security is powerfully guided by Pingsafe. It is on a 24×7 watch and detects even minute vulnerabilities before it can harm our secret keys and systems.
We use the most secure and reliable infrastructure provided by AWS.
All of Flint’s data exchange happens through SSL using TLS 1.2 and your sensitive data is securely stored with AES-256 encryption.
CF: Thank you so much for taking your time to join our AMA today, as well as thanks for hundreds of good questions from our community.
📌 Seems like there’re many things to exchange, but I’m afraid the time is up now. For all of the questions that have not been answered yet, guys feel free to search for more information on the links provided below:
🔗 Telegram: https://t.me/Flintdotmoney
🔗 Twitter: https://twitter.com/flintdotmoney
🔗 Website: https://www.flint.money/
