Recap of AMA with Andrey Diyakonov, Choise.com CCO | July 13, 2022

Jul 16, 2022
05:07
2 min reading

Choise.com team

Speaker: Andrey Diyakonov is a Chief Commercial Officer at Crypterium and Choise.com, also spearheading Crypterium’s unique B2B program.

A seasoned business development executive with a proven track record in the industry, Andrey is leveraging his experience and a set of soft and hard skills to set up and lead “A-Team players” across multiple businesses. An avid crypto adopter, Prior to joining the industry, Andrey has ran and staffed political campaigns in the EU, and represented 2 countries in the United Nations program UNAOC.

It truly is amazing, how crypto gathers people from so many different spheres of life and business.

How did you get the idea to create products with such high APY, and what is the goal?

“Great Q.

Ever since we’ve decided to build Charism and launch Choise.com, we are focused on empowering you to earn more on your crypto.

And since the initial worries, such as building the product, launching the CHO, conducting IDOs, closing deals with investors, even listing CHO are behind us – it’s time to focus on the essence of our proposition.

We are at a crucial point in Choise.com and CHO story – launching new products, communicating the value, making sure we get the message across to users and b2b customers alike.

We’ve long maintained that the holy grail of the crypto market is yield and interest offerings. That vision has informed our steadfast commitment to delivering you the best yield and interest product out there. And we’ve got a lot that lends itself to just that.

Launching the industry’s best APY product is a part and parcel of that commitment.

We empower you to earn more on your crypto – and we want to make it easy, fun, and safe.”

Some users feared that after the rebranding and transformation of Crypterium into Choise.com, the company would only develop defi products. It is now obvious that the Cefi sector is not forgotten. Is it true?

“I understand their concern and let me assure our community that one of my tasks in board meetings and planning was to ensure that we don’t turn into a DeFi-only or CeFi-only company. We are focused on providing a well-balanced, jack of all trades kind of a crypto product.

So we remain 100% committed to the vision of MetaFi – an experience of earning more that transcends the borders.

Choise.com is MetaFi – first product – and that’s a living proof of it.

P.S. Bear in mind, and of course, we will return to it later, both CeFi and DeFi products are part of this offering – because they are instrumental in generating those yield opportunities.”

How can you generate the yield for these deposits?

“Yeah, that’s one of the most important Qs out there.

And let me point out, even before answering it, that we commit to providing you with as much clarity – certainly without revealing any sensitive data or in-house know-how on the details and status of those yield – generating activities.

More info will be produced – and of course you are always encouraged to engage with us directly to get a piece of mind and be reassured that your funds are well taken care of.

First, let me point out that we are not novices in the yield and interest -bearing products. We’ve already had a few successful products similar to those we are talking about now.

Some of you may remember our 7% yield accounts, our the next time around we delivered above-average APY with 15.6% last year. It was a fantastic opportunity for the company and for many of you to beat inflation and earn_more_way_more .

And of course, we’ve mastered CRPT-powered staking and deposits with yield up to 21%.

So it’s not our first go at it, we are quite an experienced market player.

Second, let me point out the fact that we’ve got a fantastic team of 7 professionals in our yield and prop trading division. A fantastic team of A-list players with a combined experience of 50 years in crypto and finance , most of them having successful careers in hedge funds and money markets funds.

So we’ve got a ton of knowledge , ideas and the team to deliver.

Third, timing. A quick look at the crypto landscape may give a faulty impression of the time of great peril, uncertainty, trouble, and overall bearish sentiment. Fully aware of the scale of market changes, we are yet, even more aware of the opportunities, the downfalls of some of the household names in crypto and exciting prospects that those opposed open up to us and our users.

Let me reiterate, where others see lemons, we’re focused on squeezing and catering you with the best lemonade, to borrow the turn of phrase.

Four, it’s our balanced strategy and careful risk policy.

We treat devising strategy and assessing risks seriously, so we’ve got a separate siloed operation that handles liquidity injected for the purposes of generating that yield . So no tech malfunctions or market downturn could negatively affect our existing users and/or impact negatively on our yield strategies.

Five, our diversified and MetaFi strategies for generating yield .

Although I can not reveal the exact cooking book algorithm and all the ingredients, we at Choise.com are committed to setting up, maintaining, and being firm in commitment and open-minded in action to share some of the elements of our strategy:

Right set up. We’ve got necessary paperwork and a set of entities charged with the task of generating yield.
Cash deposits on hand. We assure you that a necessary portion of the funds will be kept in highly liquid instruments, such as cash and its analogs.
Multi-layered vetting of possible third parties. If we decide to deploy some funds into other projects/products’ instruments, we apply 3 critical tests to determine if that possible instrument is safe and profitable enough. It’s all about their record, status, external market intelligence, and limiting over-exposure.
Defi as an integral part of yield generation.
In-house algos, including but not limited to spot, futures, and market-neutral strategies.
Diversification. We aren’t focused on crypto only. Our team’s expertise allow or generating yield across the entirety of #Finance
No lending book element is involved in this part of the product.
Keeping you up to speed, sticking to being as transparent as needed.

And most importantly, our ironclad commitments to you:

Principal, i.e. funds you bring in, is guaranteed.
Respecting the rules and Regulations.
Time is money, so we ask you to commit to a 12 month minimum. It’s just reasonable.
Focus on servicing institutions and all market participants. Our users are important, what’s important to our users is our ability to work with all – even the most demanding types of customer.

I know it’s been a lot to digest, but I feel strongly about being as transparent with you as it gets. So thanks for your attention.”

What is the entry level for these 2 new deposits?

“It’s real friendly.

For retail users, it’s just 100 USDT/C for stablecoins.

For your favorite #MetaFi token, it’s 100 CHO.”

Can we open a deposit in CHO with locked tokens in the app?

“Nope, that wouldn’t work.

You may use CHO as they become available to you. Alternatively, head out to the market and get your hands on some CHO. There are tons of benefits.”

Will the stake be flexible or fixed? For how long do I need to stake, can I withdraw whenever I want?

“ Great Q. Your yield product’s duration is fixed – it’s 12 months. No early redemptions are allowed within this product. Principal is guaranteed. More of different products will be launched soon.”

Will Choise.com interest account be flexible, will the 17% APY distributed daily?

“Interest is accrued daily, interest is paid on the day of maturity.”

Is staking possible on the site and is it planned to release a web version of the wallet Choise.com ?

“We are focused on getting this product to all our users, mobile and web alike. To keep our focus heightened, we’ve decided to first launch it on our app. Yield products will become available across all the platforms later.”

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