Hello everyone, my name is Tim and I’m a partner at Azoth Labs, a growth partner agency focusing on early stage crypto start ups. We help companies scale from ideation to product and pre-revenue to revenue by assisting with fine-tuning all aspects of a business. One of our clients is DecentraCredit and I had the privilege to sit down with Saheen, the CEO of DecentraCredit to ask her some questions as the company rolls into the fundraising phase of their roadmap.
Tim - Azoth Labs: Good morning, everyone. I'm Tim from Azoth Labs, and today we have Saheen, CEO of DecentraCredit. Saheen, could you tell us about your background and how you got into crypto?
Saheen - DecentraCredit: Thanks, Tim. I'm from Mauritius, a beautiful island in the Indian Ocean. I started my career in finance at 19, working in bookkeeping. I moved up to Deloitte as a senior auditor after completing my professional studies. Later, I headed finance for a manufacturing company, which led me to work internationally. In my early thirties, I moved to India and couldn't work for two years due to visa restrictions. During this time, I discovered cryptocurrency through freelancing on Upwork. I began promoting tokens and founded Coin Promoter, raising millions for ICOs. Eventually, I met Eren and Faf, the technical leads for DecentraCredit, and we decided to create DecentraCredit to bring back true decentralization to crypto lending.
Tim - Azoth Labs: That's quite a journey! How did your experience with Coin Promoter shape your approach to DecentraCredit?
Saheen - DecentraCredit: Working with Coin Promoter was eye-opening. We were among the first to offer marketing services for ICOs, and we saw both the highs and lows of the crypto boom. This experience taught me the importance of trust, transparency, and community engagement. It also taught me some valuable lessons about the nature of the bull and bear markets in crypto. A good idea in a bull market may not execute nearly as well during a bear market! I think we can all agree on that.
Tim - Azoth Labs: DecentraCredit has been over a year in development. How have you kept the team motivated despite not launching yet?
Saheen - DecentraCredit: It’s been challenging. The initial months were full of enthusiasm, but setbacks with marketing partners affected morale. We remind ourselves that DecentraCredit is a long-term project with a significant vision. Our goal isn't just to make a quick profit but to create a sustainable, decentralized platform. Partnering with Azoth has also provided great support and kept us focused. We also emphasize the long-term vision and the impact DecentraCredit can have on the crypto ecosystem, which helps maintain motivation.
Tim - Azoth Labs: What’s been your most significant personal challenge during this process?
Saheen - DecentraCredit: Managing a diverse team was tough. We have people in their forties and twenties, with different work habits. I had to shift from a hands-off approach to a more involved one, setting deadlines and being more hands-on. Despite the struggles, our team’s strong bond and commitment keep us moving forward. It’s about finding a balance between guiding the team and allowing them the freedom to innovate.
Tim - Azoth Labs: Can you share a funny or unexpected experience with investors or clients?
Saheen - DecentraCredit: Once, I discovered an investor was wanted for financial fraud. It was shocking and taught me to always verify backgrounds. It’s similar to checking someone’s social media before dating – you need to know who you’re dealing with. This experience emphasized the importance of thorough due diligence, especially in the crypto space where anonymity can be a double-edged sword.
Tim - Azoth Labs: Crypto can be a volatile space. How do you handle the pressure of scaling a startup while maintaining your core values?
Saheen - DecentraCredit: I live by the motto "clean hands and clear conscience." We always choose the right way, even if it’s difficult. Our platform is secure, controlled by smart contracts, ensuring transparency and trust. We accept that the initial financial returns will be modest, focusing instead on long-term growth and user trust. DecentraCredit is designed for sustainability, not quick profits. This approach helps us stay true to our mission, even when faced with pressures to pivot.
Tim - Azoth Labs: What advice would you give to aspiring crypto entrepreneurs looking to join a startup?
Saheen - DecentraCredit: Have a solid backup plan and find an outlet to decompress. Balancing stress with something you enjoy is crucial. For me, it’s watching K-dramas. It’s important to have something that allows you to clear your mind and relax. Also, make sure you’re passionate about the project you’re joining. The crypto space is fast-paced and demanding, and genuine interest can help you stay motivated through the challenges.
Tim - Azoth Labs: DecentraCredit has stayed true to its mission, but have you faced pressure to pivot, like Aave did from peer-to-peer to peer-to-pool?
Saheen - DecentraCredit: Yes, there has been pressure, but we are committed to our vision. We believe in the long-term potential of true decentralization. While it’s tempting to take shortcuts, we prioritize doing things the right way. Our approach may be slower, but it builds trust and sustainability. We’ve seen the pitfalls of centralization and are determined to stay true to our decentralized model, even if it means facing more challenges along the way.
Tim - Azoth Labs: You’ve mentioned dealing with key opinion leaders (KOLs) and their impact on projects. Can you elaborate on that?
Saheen - DecentraCredit: Influencers can be both a boon and a bane. While they can bring visibility, many KOLs are just after quick gains and lack genuine insight. An idea I had that might help reduce this KOL phenomena is have an evaluation team from the native chain, for example, a team from Solana that would evaluate and endorse specific KOL’s based on trust. This would provide a more trustworthy evaluation than random influencers. I believe credible individuals should be the ones evaluating and promoting projects, ensuring that the information is reliable and the project is genuinely valuable.
Tim - Azoth Labs: That’s an interesting approach. It’s great to hear about new ways to bring credibility to the space. Before we wrap up, any final thoughts or advice for the community?
Saheen - DecentraCredit: Stay true to your vision and values. The crypto space is volatile and can be challenging, but if you believe in what you’re doing and stay committed, you can make a significant impact. Also, always do your due diligence and surround yourself with a reliable team. And remember to take breaks and find ways to relax – it’s essential for long-term success.
Tim - Azoth Labs: Thank you, Saheen. This has been insightful. For those listening, please check out DecentraCredit.
Saheen - DecentraCredit: Thank you, Tim. And to everyone listening, check out DecentraCredit and join us on this journey.