Can you introduce yourself to us?
Hello, I am a trader since 2017 and started using many DeFi protocols and other innovations. happening in the crypto world
before it was established Flint I lead the product team of India’s largest fintech company, CRED. The company is valued at $6.5 billion. You can say that I was one of the first team members there (I was the 3rd Product Manager, where CRED now has 100 Product Managers) and built CRED’s entire wealth management business.
So what inspired you to create Flint?
After building CRED’s management products that millions of users appreciate for their seamless experience, my co-founder Akshit and I recognize that the experience of using web3 products needs to be enhanced.
Most of the projects in the crypto world have poor UX, I think there should be some optimization before token pricing before it creates any value for users, and most importantly, no. Who can solve the problem of trust? So we decided to create Flint, combining access to a wide range of crypto products in one place. To provide a smooth and satisfying experience for users.
Can you explain more about Flint?
Our first product is a stablecoin yield app backed by multiple assets (e.g. USDC/USDT).
We’ve improved this product over the past few months based on the feedback we received in the beta version. And today we are announcing the official launch of this product. Investors can deposit asset-backed stablecoins in our custody solution and earn up to 10% returns.
This was created in close cooperation with FTX to provide the best level of security and user care.
Additionally, we are driving more token returns in the coming weeks. More on-ramp and crypto exchanges and price trackers will be added soon.
Can you tell me how Flint is different from many competitors in the market?
We are building Flint with better quality than the market standard. We have the best risk management process to minimize the risks of your investment.
Below are some examples of what we see as a long-term competitive advantage:
1. Best-in-class product experience on a mobile app.
2. Emphasis on trust and transparency
3. Leading risk management approach by experienced team
4. Additional features in addition to rewards to cover all your crypto-world use cases.
5. Various investments with different risks and rewards
Has Flint been funded or not? If so, who were the investors behind Flint?
Yes, of course. Flint is an excellently funded startup. We just raised $5.1 million in our seed round.
Flint is backed by 11 investors including Sequoia Capital India, Coinbase Ventures, GFC, Hashed, IOSG and many more. In addition, Flint is backed by more than 60 well-known angel investors from around the world. In businesses such as Coinbase, Robinhood, Ftx, Polygon, Blocktower Capital, Netflix, CRED, etc.
How do users get rewards from Flint?
Having said that, we are generating returns using a new method called Margin Lending, which is safer than other methods. more importantly Our risk management practices are better. And our product experience is 2 times better than other apps.
Our internal yield optimization system scans for the available returns (and volumes) on margin funding. through an exchange that the user has pre-selected and use our centralized funding at the best rates. I can say that we are extremely transparent about our investment strategies and regularly update them so that our users can see every step and every process. We are also happy to listen to our users and they have their opinions on our investment strategy.
Do users get interest as soon as they deposit money in Flint?
Yes, you can start earning interest as soon as you deposit. You can see the interest earned every second on your dashboard. no duration lock You can withdraw your money with the interest earned at any time.
How safe is Flint? Is the user balance well protected?
Flint has partnered with the best companies to provide users with the best security features to protect their investments.
Some of our infrastructures are listed below. To guarantee the best for users
Flint has provided the best care. It’s the same level as FTX, meaning your money is secured and protected by the best engineers at FTX. It also has our recommended cloud and infra security. Efficiently from Pingsafe, it sits on a 24×7 watch and it works all the time. Stay tuned for vulnerabilities so they don’t even last a minute. before it can harm our keys and secret system
All Flint data exchanges occur over SSL using TLS 1.2. Your private data is kept safe with AES-256 encryption.
And Flint also offers a very detailed protocol for stable lending and works with best-in-class industry partners to mitigate various operational risks.
However, stablecoins held in Flint do not cover all types of deposit insurance policies. because our borrowers may default on the loan And the risk of that incident is known as credit risk. to alleviate this problem Our risk management team monitors various exchanges. and lending only to those with the lowest chance of bankruptcy or the least default
What are the risks of investing in Flint? And how does Flint ensure its users’ funds are safe?
for risk when engaging in margin lending Here are the following:
· Credit Risk: Our borrowers may default on their loans. And the risk of that incident is known as credit risk. to alleviate this problem Our risk management team monitors various exchanges. and lending only to those with the lowest chance of bankruptcy or the least default
· De-pegging Risk : If USDC and USDT are de-pegging, our users have to bear the main loss from their deposit.
Liquidation Failure Risk: If the exchange’s technical solution fails to automatically settle our borrower status at a loss. We will have to rely on the borrower to return the money. However, this rarely happens with any exchange. that we work with
Can you tell us about your plans and future plans?
First, we want to enable access to all basic and advanced financial services. To suit the needs of cryptocurrency owners at different risk levels. meanwhile We would like to enhance their good experience by introducing various channels. To join and earn crypto like invite and earn, play to earn, quiz to earn etc. soon we will be:
1. Adding smooth channels for the Thai market
2. Announcing exciting rewards in a large number of tokens soon.
3. Work with new referral programs for more flexibility.
4. Announcing the Swap feature so that you don’t have to go anywhere else to convert your tokens.
Lastly, how do you plan to grow up in Thailand?
In order to expand Flint in Thailand, we will have more exposure to the Thai crypto community and set up a project.
Ambassador is up. We will also create new strategic partnerships with web2 asset products such as P2P lending platforms.