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INTRODUCTION

Thank you to the Cryptowid for participating in Ask Me Anything (AMA) with DeCredit on September, 10th 2021 at 1pm UTC. This guest star :

Catherine — CMO of DeCredit

Before we start the AMA main segments, we really want to know some informations about yourself. Could you do a little introduction for us to know better about you ?

Ok, I’ m Catherine, CMO of DeCredit project. I am a early crypto lover and has been focusing on this field about 5 years.

DeCredit is a DeFi 2.0 protocol that empowers the DeFi market by introducing the credit loan models

It links credit authentication nodes and credit Oracle to lending products on the premise of existing encrypted collateralised loan models,

with a view to progressively reduce and finally eliminate collaterals, enabling staggered resource allocation and enabling the blockchain paradigm to inclusively empower the traditional financial lending sector.

By doing this, DeCredit leverages the tremendous momentum generated by DeFi to provide liquidity support to a wider range of entities and individuals.

We are a credit loan company with 200k+ user base. We’ve seen a lot of pain points in the traditional credit loan industry like user information is abused and users cannot find his matching products.

Last year, we were attracted by Blockchain technology and ecosystem. Its decentralized and transparency features will help users to protect their own data and allow them to have access directly to the Defi products.

However, on the other hand, the Defi products nowadays are almost of over collateral mode which means user would suffer from low fund utilization.

DeCredit will combine its credit experience and AI algorithm to blockchain and Defi ecosystem, and provide user’s credit score to Defi smart contract thru an Oracle, lower the TVL and thus enhance users’ fund utilization and liqudity.

Here is our road map:
Q3 2021
We have finished development of DeCredit Loan (Collateralized) and we are deploying and testing it on BSC testate.
We will deliver a solo DeCredit rating system with DeCredit Scoring algorithm.

Q4 2021
We will integrate DeCredit credit loan module into the collateralized loan.
We will expand our credit loan to more real world scenarios. (To cooperate with a real estate project)

1st Half 2022
We will build up a privacy solution and run DeCredit Scoring algorithm in a trustable environment.
We will build up a distributed storage solution.
We will build our decentralized credit oracle with node and oracle aggregators.

2nd Half 2022
We will offer each of our user a distributed ID and count his on-chain credit data into DeCredit Oracle’s rating as well.

As for products, our credit-based decentralized lending products have been developed and the testnet event is currently ongoing

In terms of market cooperation, we have reached strategic cooperation with Litentry, Crust, Labs, and Weblock, and we have also cooperated with KOLs and communities in many countries.

IDO platform and exchanges are under negotiation, a public offering will be held this month

As for operation, our community and Twitter have reached 70k and 51k respectively, and the community ambassador recruitment and daily quiz game are held in the group currently.

Our advantages are mainly in these aspects.

DeCredit is committed to leading the DeFi protocol 2.0 market,

DeCredit extends the crypto-collateralised lending model with a credit-based lending model,

aiming to introduce off-chain credit ratings to the DeCredit platform using credit authentication nodes and Oracle machines to provide differentiated lending limits and interest rates based on on-chain and off-chain credit assessments, bringing more lending markets into the market.

Looks like the Decredit project is a great project
What is the interesting thing about your project that we believe and trust can join in your project ecosystem?
In this one year, what are the supports for DeCredit’s progress?

Our core team has many years of experience in the off-chain credit industry, and has a reliable credit model that has been verified for many years, which is difficult for other projects to have

And the most attractive point about DeCredit is that we aim to bring a lending product without collateral but with credit, which means more convenience and security for users who have loan needs

In addition to that, users can stake tokens in our platform to earn more APY than other lending products, that would be a very good function for users to carry stable investment.

In this year, we have reached strategic cooperations with Litentry, Crust, Labs and Weblock. They are really very helpful and provide many industry resources and PR support for DeCredit to create our own brand.

Also, community plays an essential part, followers give us advice and join our activities, so that DeCredit can reach a worldwide common consensus.

how does DeCredit maintain user data? has your protocol done an audit process? if so, can you provide an audit report.

Our core team has many years of experience in the off-chain credit industry, and has a reliable credit model that has been verified for many years, which is difficult for other projects to have

And the most attractive point about DeCredit is that we aim to bring a lending product without collateral but with credit, which means more convenience and security for users who have loan needs

In addition to that, users can stake tokens in our platform to earn more APY than other lending products, that would be a very good function for users to carry stable investment.

In this year, we have reached strategic cooperations with Litentry, Crust, Labs and Weblock. They are really very helpful and provide many industry resources and PR support for DeCredit to create our own brand.

Also, community plays an essential part, followers give us advice and join our activities, so that DeCredit can reach a worldwide common consensus.

The basic concept of credit is information sharing, we will adopt a distributed storage (e.g. IPFS) scheme to store credit data

achieve decentralised sharing of credit data and scoring data, and promote the trans-border data flow of credit data

Credit data producers act as nodes, and the static description data, relationship data, behavioral data, reputation data, credit data and their affiliated resources are stored as data DNA on the distributed network and such data will be further assetised and stored in the chain to form trusted digital assets.

DeCredit data will be recorded on the blockchain relatively according to their scenarios in ways of recording the users’ data in the form of agreement through simple and efficient data collation and compression.

Decredit empowers DeFi by credit loan models. Can you tell us more about this model and how is it different from other lending platforms? Can you also tell about the decredit rating system?

DeCredit supports both collateral loan and credit loan models.

the collateral loan model is suitable for scenarios such as crypto leverage, where depositors provide liquidity and earn interest income by depositing cryptocurrencies into a liquidity pool; meanwhile, in the same liquidity pool, lenders can borrow cryptocurrencies by injecting, Staking and paying some interest fees.

While the credit loan model is applicable to a wider range of loan scenarios, such as project-specific funding loan, credit consuption loan, etc.

The protocol is based on a liquidity pool, which is dedicated to decentralised credit assessment relying on user profiles provided by trusted institutions, combined with peer-to-peer aggregation and liquidity pool management for intelligent matching to facilitate risk control and liquidity matching for credit loans.

The DeCredit Scoring System is a system for quantitatively assessing individual credit risk

based on the Credit-Scroing algorithm and the Credit-Matching algorithm to quantify and calculate the credit score that reflects an individual’s creditworthiness, thus providing DeCredit with a basis for loan allocation, analysis, evaluation and optimisation.

For a given individual, the D credit rating score is based on a percentage scale ranging from 0 to 100, with 0 being the lowest rating and 100 being the highest. Initially we have set three levels, L0, L1 and L2.
DeCredit Scoring System (3 levels)
L0: Scored P<75 (inclusive)
L1: Scored between 75 and 89
L2: Scored 89 and above (inclusive)

If Bob is a L2 user, he will be judged as the premium user, and his collateral ratio will reach 70% in the first phase of the DeCredit product, that means, if Bob’s credit line is 1000 USDT, he will only need to stake 700 USDT.

The different levels of credit ratings mean different loan amounts and APY available. As the cryptoasset lending scale on the DeCredit ecosystem continues to grow and mature, the tiers of the DeCredit credit rating system will be further expanded from the current 3-level rating system to a 10-level rating system.

Most of the new investors only focus the price of the token and the short term benefits of project rather than understanding the true value of the project.Can you tell us about motivations and benefits for investors to hold your tokens long term?

As cryptocurrencies are becoming more popular, more projects come out with an empty concept and product, and play users for a sucker.

However, DeCredit adopts the decentralized credit service to create a on chain and off chain lending scenarios, which can make sure that our product has real utility in the current market, and once the product has its meaning to exist and token has multiple utilities, the project can have a long term development.

For our investors, here are 4 reasons to hold CDTC:

I’m interested in liquidity on DeCredit, how does liquidity work on DeCredit ? And how to take advantage of this credit loan system for our living expenses?

DeCredit builds liquidity pools based on decentralised protocols, which we call M pools. M pools are primarily funded by cryptocurrency cstakings and to start with. We will support main cryptocurrencies.

The users deposit their cryptoassets into the liquidity pool and lenders lend out funds from the pool. At the same time, DeCredit has also established a D-stablecoin liquidity pool, which is primarily used for credit lending. In terms of liquidity pool risk management, DeCredit uses a fully see-through funds management algorithm based on the blockchain and the whole process is operated on-chain by smart contracts.

To use the DeCredit platform, you need to bind the Metamask wallet first, and if you want to borrow tokens, deposit first and enable collateral, then you can borrow tokens according to your mortgage rate. If you want to increase the mortgage rate, kindly finish the credit information in the homepage, after that more tokens can be borrowed for you to use. But don’t forget to repay tokens within your interest control range.

Yes. With the development of DeCredit protocol and more collaterals into DeCredit deposit portfolio, we will introduce RWA,” real world assets” (especially collaterals backed by credit quality support), aiming to cover DeFi investments in traditional assets.
DeCredit introduces NFT into this real estate RWA. Trusted Group is a credible organization with real estate management and financing credit resources, such as real estate credit companies, real estate financing companies. DeCredit provides stable pools to cooperate with these trusted groups.
Trusted groups mint the property rights or titles of its housing assets to NFTs and deposit them into DeCredit’s pledge pool. Meanwhile the credit data of the asset
holder is sent to DeCredit oracle for rating, benefitting the lending from DeCredit’s borrowing pool with optimized liquidity. The trusted groups then converts the borrowed funds into fiat money and give it to LendCo. LendCo allocates funds to different real estate projects. When the investment cycle ends, trusted groups returns funds back to DeCredit and redeems the collaterals

Yes, Whenever the user uploads his credit or increases his mortgage rate, the system will burn the tokens according to a certain percentage of the increased mortgage rate.

We always value our community as they really play a very important part in DeCredit future development. The users who hold the CDTC have the governance rights in our community like voting or setting fixed interest rates, etc.
If you are interested in DeCredit, kindly join our TG and follow the Twitter, as well as our events to know more about our product, we appreciate your participation

The IDO event will be held in the late of this month, please stay tuned!

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