News May 19 ,2021

Q&A Session with Credits CEO, Igor Chugunov


We are glad to see you at our Questions and Answers Session! Thank you for being eager to keep up to date with everything happening at Credits. Here are the latest questions from our community:

Q1: I spotted loans are going to be offered but can CS holders also partake in the lending? As I was looking into crypto lending websites but I would rather use a reputable company like CREDITS.
A: Thank you for your interest and trust. Crypto-asset lending is absolutely a massive opportunity for crypto markets and users. We see substantial improvements for individual hodlers and major institutional investors alike. In this respect, we're assuming the implementation of such a feature in the future. For the moment, however, I can't give any in-depth details. 

Q2: Can you tell the community how much funds are left?
A: Now the company has around $ 3 million. These funds are enough for us to launch the product and reach confident revenue. However, as I said earlier, we plan to close the venture round after showing good traction.

Q3: There is a month and a half left until the end of the second quarter. What news is there on the issuance of a credit card? Have you found partners for the project? 
A: Long story short, we are conducting close negotiations with several partners in different directions. In general, things take their natural course, and there are some legal and organizational issues left to be settled. Despite that, technical integration is already in full swing. We are also working on agreements with standby partners. You can check out some more details in Max's recent reply.

Q4: MainNet, Mobile wallet & public tests coming in Q2?
A: Yes, they actually are. MainNet updates, Wallet release, and tests are planned for this quarter. As you can see from our recent news, we are experiencing some delays in certain areas. In particular, this concerns MainNet updates. This is due to the fact that we have found some heisenbugs, in connection with which we are obliged to provide due review and fixes.
Q5: Is there a budget for a Global Marketing campaign that takes CS to the top of the mind of the people in the Crypto-world?
A: Here, I say, again, what I said before: We are waiting for the launch of the Сredits Wallet, and marketing activity will be aimed at it to attract users to the Credits ecosystem. An estimated sum has already been budgeted for this purpose. There is nothing to be alarmed about.

Q6: Still trying to figure out how digital bank will work, what the USPs are, how it is financed?
A: In actual fact, today we have a large market. It continues to grow despite various fluctuations. There are a lot of competitors and related companies. However, we are confident that we will find our clients. First of all, we are trying to make a user-friendly application that will help non-crypto users (crypto beginners) join the crypto market. In addition to low rates for buying/selling crypto, we will also provide traditional fiat functionality compatible with current players on the market.  We are planning to provide lots of additional functionality (like crypto cashback, earnings, etc.), which will also become an advantage when choosing Credits.

Good day, thank you for your questions and participation! We do appreciate your drive for Credits development!

Users have one week to submit their questions. Please do not hesitate to send us more questions you would like to be covered here!

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