How is Cardana Better Than Traditional Lending?
7. Global user base
Unlike local or regional banks, our borrowers and lenders come from every part of the world. This offers diversification benefits to users and substantially increases the demand for our services.
Topic: Cardana $CARD - Redefining Credit (Read 394 times)
How is Cardana Better Than Traditional Lending?
6. Flexible
At Cardana, lenders can lend as little as USD 1. This is very different from traditional credit funds, which require a sizable commitment of capital.
6. Flexible
At Cardana, lenders can lend as little as USD 1. This is very different from traditional credit funds, which require a sizable commitment of capital.
How is Cardana Better Than Traditional Lending?
5. Safe
Collateral will be stabilized and converted into stable coins, such as $BUSD, as its value falls and the loan-to-value (LTV) ratio breaches the designated stabilization threshold.
As such, borrowers will be able to repay the loan and avoid unforeseen personal liabilities while lenders are meaningfully protected throughout.
5. Safe
Collateral will be stabilized and converted into stable coins, such as $BUSD, as its value falls and the loan-to-value (LTV) ratio breaches the designated stabilization threshold.
As such, borrowers will be able to repay the loan and avoid unforeseen personal liabilities while lenders are meaningfully protected throughout.
How is Cardana Better Than Traditional Lending?
4. Possible To Make Money By Borrowing
Borrowers can borrow for free or even make money out of the loan if the values of their collateral, namely digital assets, increase by more than interests paid.
For example, if the interest rate is 10% p.a. and there is a 25% increment in the value of the collateral, the borrower is c.15% better off compared with selling the collateral for cash in the first place.
4. Possible To Make Money By Borrowing
Borrowers can borrow for free or even make money out of the loan if the values of their collateral, namely digital assets, increase by more than interests paid.
For example, if the interest rate is 10% p.a. and there is a 25% increment in the value of the collateral, the borrower is c.15% better off compared with selling the collateral for cash in the first place.
How is Cardana Better Than Traditional Lending?
3. No Fees
Banks often charge establishment fees and loan service fees. To take out a home loan in Australia, Commonwealth Bank of Australia charges up to AUD 600 to 800 for upfront establishment fee and up to AUD 8 per month for loan servicing.
Other fees include additional security fees, progressive drawing fees, rate lock fee, security guarantee fee, low deposit premium, access fees, and many more.
None of these is charged at Cardana, effectively lowering borrowing costs for users of our dApp.
3. No Fees
Banks often charge establishment fees and loan service fees. To take out a home loan in Australia, Commonwealth Bank of Australia charges up to AUD 600 to 800 for upfront establishment fee and up to AUD 8 per month for loan servicing.
Other fees include additional security fees, progressive drawing fees, rate lock fee, security guarantee fee, low deposit premium, access fees, and many more.
None of these is charged at Cardana, effectively lowering borrowing costs for users of our dApp.
How is Cardana Better Than Traditional Lending?
2. Quick and Private
Borrowing with Cardana is quick and private. Unlike traditional loan applications, borrowers need not upload identification documents, address proofs or payslips. They do not even need to disclose their identities or the purposes of the loans.
Borrowers can finish the entire loan application in less than 1 minute, by clicking a few buttons. All borrowers need to do is to choose from the loan options and deposit the collateral.
The entire process is done online via our Cardana dApp. No branch visit is required
2. Quick and Private
Borrowing with Cardana is quick and private. Unlike traditional loan applications, borrowers need not upload identification documents, address proofs or payslips. They do not even need to disclose their identities or the purposes of the loans.
Borrowers can finish the entire loan application in less than 1 minute, by clicking a few buttons. All borrowers need to do is to choose from the loan options and deposit the collateral.
The entire process is done online via our Cardana dApp. No branch visit is required
How is Cardana Better Than Traditional Lending?
1. Fair
Four out of five Americans who have taken out a loan have never defaulted, yet less than half of Americans have access to prime credit. Even consumers with high credit scores tend to pay too much for loans because the rates they pay effectively subsidize the losses from borrowers who default.
At Cardana, interest rates are determined objectively and not by one’s credit scores, which are subjective and at times detached from reality. As the chance of default is reduced substantially with the aid of a smart contract, subsidization is virtually nonexistent.
1. Fair
Four out of five Americans who have taken out a loan have never defaulted, yet less than half of Americans have access to prime credit. Even consumers with high credit scores tend to pay too much for loans because the rates they pay effectively subsidize the losses from borrowers who default.
At Cardana, interest rates are determined objectively and not by one’s credit scores, which are subjective and at times detached from reality. As the chance of default is reduced substantially with the aid of a smart contract, subsidization is virtually nonexistent.
As is the norm in the industry, lenders receive most of the interests paid by the borrowers. The remainder will be go primarily to:
1. The Cardana security and insurance fund to maintain a trusted platform;
2. The Cardana dApp to cover such expenses as gas fees; and
3. Cardana token holders for supporting the platform.
1. The Cardana security and insurance fund to maintain a trusted platform;
2. The Cardana dApp to cover such expenses as gas fees; and
3. Cardana token holders for supporting the platform.
Lenders receive decent interest incomes
Lenders receive decent interest incomes by lending with Cardana. Interest rates can be up to double digit percentage, depending on the actual market condition and borrower demand. This is meaningfully higher than the interests in the United States and Australia, which are next to zero, as well as in Europe and Japan, which are negative.
Lenders receive decent interest incomes by lending with Cardana. Interest rates can be up to double digit percentage, depending on the actual market condition and borrower demand. This is meaningfully higher than the interests in the United States and Australia, which are next to zero, as well as in Europe and Japan, which are negative.
Borrowers get to decide on interest rates
Unlike other platforms, we provide maximum flexibility and allow users to set their own interest rates. Instead of being a decision-maker, Cardana has chosen to be an enabler. Our role is to provide borrowers and lenders with a set of market interest rates to facilitate decision making. Market rate information will be sourced from credible data tracking sites, such as https://loanscan.io/.
Borrowers will receive a notification if the interest rate he/she has set is too low compared with the prevailing market rates. This is to ensure borrowers make informed decisions and are aware of the risks of not receiving enough lender interest if his/her offer deviates significantly from what is available in the market.
Unlike other platforms, we provide maximum flexibility and allow users to set their own interest rates. Instead of being a decision-maker, Cardana has chosen to be an enabler. Our role is to provide borrowers and lenders with a set of market interest rates to facilitate decision making. Market rate information will be sourced from credible data tracking sites, such as https://loanscan.io/.
Borrowers will receive a notification if the interest rate he/she has set is too low compared with the prevailing market rates. This is to ensure borrowers make informed decisions and are aware of the risks of not receiving enough lender interest if his/her offer deviates significantly from what is available in the market.
How does the Cardana dApp work?
A while ago, Betty took out a $BUSD 10,000 loan. At an LTV of 30%, the loan required Betty to post USD 33,333 worth of Safemoon as collateral.
Due to a piece of unfavourable news, the value of Safemoon has collapsed by nearly 50%. As a result, what was originally worth USD 33,000 is now worth USD 16,667, while the LTV increases from 30% to 60% (10,000 / 16,667), or 5% below the stabilization threshold of 65%.
The smart contract sends Betty a message, reminding her that the collateral will be stabilized and converted into BUSD if the value of Safemoon falls further and LTV breaches 65%. Betty is also given the option to post more collateral to avoid a stabilization.
Betty has decided to not post extra collateral and, regrettably, Safemoon kept falling and the collateral is now worth 15,384. With a LTV of 65%, the smart contract liquidates the collateral.
BUSD 10,000 is now returned to the lenders, with the remainder deposited into Betty’s wallet.
A while ago, Betty took out a $BUSD 10,000 loan. At an LTV of 30%, the loan required Betty to post USD 33,333 worth of Safemoon as collateral.
Due to a piece of unfavourable news, the value of Safemoon has collapsed by nearly 50%. As a result, what was originally worth USD 33,000 is now worth USD 16,667, while the LTV increases from 30% to 60% (10,000 / 16,667), or 5% below the stabilization threshold of 65%.
The smart contract sends Betty a message, reminding her that the collateral will be stabilized and converted into BUSD if the value of Safemoon falls further and LTV breaches 65%. Betty is also given the option to post more collateral to avoid a stabilization.
Betty has decided to not post extra collateral and, regrettably, Safemoon kept falling and the collateral is now worth 15,384. With a LTV of 65%, the smart contract liquidates the collateral.
BUSD 10,000 is now returned to the lenders, with the remainder deposited into Betty’s wallet.
How does the Cardana dApp work?
Jasmine borrowed $BUSD 20,000 a year ago using 164 BNB as collateral, equivalent to USD 50,000 at the price of $305.
After 1 year, BNB has gone up to $400. Jasmine was happy that she didn’t sell her $BNB a year ago. However, Jasmine also found that she was unable to repay the loan because she had recently sent her son to the best private school in the country.
She was relieved when she realized the smart contract would liquidate 55 BNB to pay off the principal and the interest costs as they come due, while returning the rest of the BNB to her.
Jasmine borrowed $BUSD 20,000 a year ago using 164 BNB as collateral, equivalent to USD 50,000 at the price of $305.
After 1 year, BNB has gone up to $400. Jasmine was happy that she didn’t sell her $BNB a year ago. However, Jasmine also found that she was unable to repay the loan because she had recently sent her son to the best private school in the country.
She was relieved when she realized the smart contract would liquidate 55 BNB to pay off the principal and the interest costs as they come due, while returning the rest of the BNB to her.
This is one of the best white paper's I have read. Very detailed. After reading this I'll be investing more. Thanks guys, keep the hard work up.
Thanks marky mark! We will continue to update our whitepaper as we go and we are currently developing the prototype of the dApp.
Our white paper is now out! Over 30 pages of exciting content to help you understand how the dApp operates and how Cardana is better.
Cardana is releasing its white paper in 24 hours. Stay tuned!
Lending platforms are indeed attractive. Tell us what percentage of the loan is obtained from the collateral provided? Can we get a loan of 80% of the collateral or less?
The term of your loan is very long, it can be up to one year. What if the value of the collateral provided falls below the loan provided?
The term of your loan is very long, it can be up to one year. What if the value of the collateral provided falls below the loan provided?
Hi terciduk123, in order to protect the users of the Cardana dApp, including both the borrowers and the lenders, we impose an initial loan-to-value (LTV) requirement and employ the concept of stablization to ensure the value of the collateral is always greater than the outstanding loan balance. The initial LTV will be lower than 80%, which is the norm. Depending on the tokens pledged as collateral, the stablization threshold could be up to 80%, meaning collateral will be converted into stable coins to preserve value if the LTV breaches 80%.
did you just name your project after cardano?
btw, i don't get the idea of loaning something and you should have the collateral as almost the same amount of your loan? and the platform is not an established and popular one. getting clients would be very hard in the beginning so you need to offer something good to attract your potential customers.
btw, i don't get the idea of loaning something and you should have the collateral as almost the same amount of your loan? and the platform is not an established and popular one. getting clients would be very hard in the beginning so you need to offer something good to attract your potential customers.
Hi AmoreJaz
Some people might find our name similar to Cardano. However, our ticker $CARD is very different so there's not going to be any confusion.
If you look at our competitors, say Celsius, you will find that overcollateralisation is the norm. The value of the collateral is always meaningfully higher than the value of the loan to start with.
We attract users with our unique selling points (USPs). One of which is that we accept tokens which others do not normally accept as collateral, including BSC tokens like $SAFEMOON.
so what are the criteria before a token is accepted as collateral? hard to stream line if you will just accept any bsc token. also, i believe, that's the challenge you will face. the user may just sell his tokens rather than take the loan. because if it is higher than the value of the loan, why take loan in the first place? now, you need to think of some rewards program to attract clients to avail your services. otherwise, they will just opt to more popular lending platforms.
Hi AmoreJaz, In deciding whether to accept a token as collateral, we consider all relevant factors, including but not confined to:
1. Blockchain;
2. Launch date;
3. Liquidity;
4. Trade volume;
5. Market capitalization;
6. Volatility;
7. Supply cap; and
8. Trustworthiness.
Users prefer to take out a loan instead of selling their crypto assets because of two major reasons: (1) They believe the values of the assets will go even higher and that (2) they want to avoid a capital gains tax event.
Lending platforms are indeed attractive. Tell us what percentage of the loan is obtained from the collateral provided? Can we get a loan of 80% of the collateral or less?
The term of your loan is very long, it can be up to one year. What if the value of the collateral provided falls below the loan provided?
The term of your loan is very long, it can be up to one year. What if the value of the collateral provided falls below the loan provided?
did you just name your project after cardano?
btw, i don't get the idea of loaning something and you should have the collateral as almost the same amount of your loan? and the platform is not an established and popular one. getting clients would be very hard in the beginning so you need to offer something good to attract your potential customers.
btw, i don't get the idea of loaning something and you should have the collateral as almost the same amount of your loan? and the platform is not an established and popular one. getting clients would be very hard in the beginning so you need to offer something good to attract your potential customers.
Hi AmoreJaz
Some people might find our name similar to Cardano. However, our ticker $CARD is very different so there's not going to be any confusion.
If you look at our competitors, say Celsius, you will find that overcollateralisation is the norm. The value of the collateral is always meaningfully higher than the value of the loan to start with.
We attract users with our unique selling points (USPs). One of which is that we accept tokens which others do not normally accept as collateral, including BSC tokens like $SAFEMOON.
so what are the criteria before a token is accepted as collateral? hard to stream line if you will just accept any bsc token. also, i believe, that's the challenge you will face. the user may just sell his tokens rather than take the loan. because if it is higher than the value of the loan, why take loan in the first place? now, you need to think of some rewards program to attract clients to avail your services. otherwise, they will just opt to more popular lending platforms.
Cardana Weekly Update
This week, Cardana continues to trend on Blockfolio and Coinsniper and is one of the top projects on both platforms. Importantly, we have finalised the first draft of the white paper and published articles in different languages to cater for our rapidly growing global community.
White Paper
We know you’ve been waiting for the white paper. We are happy to announce that the first draft has been completed and the white paper is now sitting with our copywriter for edit. Over the next couple of days, we will be releasing excerpts of the document. You will be able to understand more about how our dApp works and how it is better than other centralized and decentralized platforms.
International Expansion
Cardana continues to expand its geographical footprint. We now have 6 active local community Telegram groups:
*KOR 🇰🇷 | t.me/Cardanakr
*VN 🇻🇳 | t.me/Cardanavietnam
*BRA 🇧🇷 | t.me/cardanabrasil
*CN🇨🇳 | t.me/cardanachina
*IND 🇮🇳 | t.me/CardanaIndia
*TRY 🇹🇷 | t.me/CardanaTurkey
We have published Medium articles in
*Portuguese: https://cardana.medium.com/introdu%C3%A7%C3%A3o-a-cardana...
*Turkish: https://medium.com/@CARDANA_TR
A Portuguese version of our website will follow shortly.
As usual, Cardana is heavily featured by influencers on YouTube:
*(Arabic) Aj Crypto: https://youtu.be/EoE4jhnCi2s
*(English) Crypto Tiger: https://youtu.be/TSpjl0_nlA8
*(English) Prof Crypto: https://youtu.be/tbO1xTHbZb4
*(Hindi) Cheap Deals: https://youtu.be/DjqcYo8cCQE
You can revisit all the videos on our website at https://cardana.io/media/.
Cardana is also reported on the front page by The Bitcoin News.
Next week, we will
*Complete the final draft of the white paper and be releasing excerpts of it from time to time;
*Work on a multilingual website;
*Begin building the prototype of the dApp
*Continue to partner with influencers and trend on Blockfolio
Thank you for your support!
This week, Cardana continues to trend on Blockfolio and Coinsniper and is one of the top projects on both platforms. Importantly, we have finalised the first draft of the white paper and published articles in different languages to cater for our rapidly growing global community.
White Paper
We know you’ve been waiting for the white paper. We are happy to announce that the first draft has been completed and the white paper is now sitting with our copywriter for edit. Over the next couple of days, we will be releasing excerpts of the document. You will be able to understand more about how our dApp works and how it is better than other centralized and decentralized platforms.
International Expansion
Cardana continues to expand its geographical footprint. We now have 6 active local community Telegram groups:
*KOR 🇰🇷 | t.me/Cardanakr
*VN 🇻🇳 | t.me/Cardanavietnam
*BRA 🇧🇷 | t.me/cardanabrasil
*CN🇨🇳 | t.me/cardanachina
*IND 🇮🇳 | t.me/CardanaIndia
*TRY 🇹🇷 | t.me/CardanaTurkey
We have published Medium articles in
*Portuguese: https://cardana.medium.com/introdu%C3%A7%C3%A3o-a-cardana...
*Turkish: https://medium.com/@CARDANA_TR
A Portuguese version of our website will follow shortly.
As usual, Cardana is heavily featured by influencers on YouTube:
*(Arabic) Aj Crypto: https://youtu.be/EoE4jhnCi2s
*(English) Crypto Tiger: https://youtu.be/TSpjl0_nlA8
*(English) Prof Crypto: https://youtu.be/tbO1xTHbZb4
*(Hindi) Cheap Deals: https://youtu.be/DjqcYo8cCQE
You can revisit all the videos on our website at https://cardana.io/media/.
Cardana is also reported on the front page by The Bitcoin News.
Next week, we will
*Complete the final draft of the white paper and be releasing excerpts of it from time to time;
*Work on a multilingual website;
*Begin building the prototype of the dApp
*Continue to partner with influencers and trend on Blockfolio
Thank you for your support!
How does the Cardana dApp work?
Shane got into Safemoon early. He has seen his initial investment of $10,000 appreciate into $50,000 over the last 2 years. He is bullish and is happy to continue to hold his $SAFEMOON till he retires in the next 25 years.
Shane does, however, need to find $25,000 fast to help fund a family member's urgent medical procedure. Once again he does want to hold long term and look to minimize any capital gains tax (CGT) impacts from selling down his crypto assets.
So instead, Shane goes to the #Cardana dApp and submits a request to borrow $BUSD 20,000 using his $50,000 worth of $SAFEMOON holding as collateral.
Shane decides on the interest rate that he thinks is fair and reviews the terms, and then sends his $SAFEMOON as collateral via the smart contract, which will act as the custodian for the loan instance.
Soon a lender, Elaine, accepts Shane’s offer and agrees to lend him $BUSD 5,000, with another lender, Frank, lending the final $BUSD 15,000 to take the total loan amount to $BUSD 20,000.
After 1 year, Shane returns $BUSD 22,000 via the smart contract, of which $2k is being paid as interest to the lenders. Shane then withdraws all his $SAFEMOON.
(dApp is not currently live.)
Shane got into Safemoon early. He has seen his initial investment of $10,000 appreciate into $50,000 over the last 2 years. He is bullish and is happy to continue to hold his $SAFEMOON till he retires in the next 25 years.
Shane does, however, need to find $25,000 fast to help fund a family member's urgent medical procedure. Once again he does want to hold long term and look to minimize any capital gains tax (CGT) impacts from selling down his crypto assets.
So instead, Shane goes to the #Cardana dApp and submits a request to borrow $BUSD 20,000 using his $50,000 worth of $SAFEMOON holding as collateral.
Shane decides on the interest rate that he thinks is fair and reviews the terms, and then sends his $SAFEMOON as collateral via the smart contract, which will act as the custodian for the loan instance.
Soon a lender, Elaine, accepts Shane’s offer and agrees to lend him $BUSD 5,000, with another lender, Frank, lending the final $BUSD 15,000 to take the total loan amount to $BUSD 20,000.
After 1 year, Shane returns $BUSD 22,000 via the smart contract, of which $2k is being paid as interest to the lenders. Shane then withdraws all his $SAFEMOON.
(dApp is not currently live.)
Cardana continues to trend on Blockfolio and is one of the top projects.
Cardana has now over 13,000 votes on Coinsniper. Thank you!
Cointelegraph: Soaring token values, a steady inflow of new users and a total value locked (TVL) approaching all-time highs are all signs that the DeFi sector is heating up.
Cardana is reported on the front page of The Bitcoin News.
Don't forget to vote for us ✅ Let more people know about Cardana🔥 the future of P2P lending:🔥
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Cardana is trending on Coinsniper and Blockfolio, and has seen its holder count increase rapidly.
[Weekly Update] Cardana has made substantial progress in expanding its geographical footprint this week!
We now have 6 active Telegram groups, namely
*KOR 🇰🇷 | t.me/Cardanakr
*VN 🇻🇳 | t.me/Cardanavietnam
*BRA 🇧🇷 | t.me/cardanabrasil
*CN🇨🇳 | t.me/cardanachina
*IND 🇮🇳 | t.me/CardanaIndia
*TRY 🇹🇷 | t.me/CardanaTurkey
We have seen our holder count increased by more than 100 this week, thanks to our influencers across the globe.
*(Azerbaijan) Crytpto Logy: https://youtu.be/LZGhOzyHIoc
*(English) Self Made: https://youtu.be/3Xt-mYRZyWw
*(English) Crypto Wave: https://youtu.be/UTJ31fLhVdw
*(English) Krypto Kid: https://youtu.be/9GfVEeW3AwM
*(Hindi) Technical Sam: https://youtu.be/6fKwDaiPjpI
*(Hindi) Cheap deals: https://youtu.be/5R3FmxQHyHM
*(Pakistan) Crypto Shanza: https://youtu.be/iXGr24VCu7A
*(Portuguese) souEngenheiro: https://youtu.be/eANgweFQ1s0
If you haven’t seen the welcome video by our Head of Community Jake, be sure to look at our pinned Telegram message.
Also, don’t forget to participate in our airdrop. Sign up before the end of the month. More information is available at https://twitter.com/CardanaFin/status/1426308425751859210
More importantly, we have made significant headway in our designs for our dApp.
Our token info has now been updated on BoggedFinance and we are following up with CoinGecko on our listing.
Next week, we will
*Expand our geographical footprint further on Telegram and YouTube;
*Continue to work with influencers;
*Work on website translations; and
*Announce the release date of our white paper (very soon)
We appreciate everyone’s support, keep hodling!
We now have 6 active Telegram groups, namely
*KOR 🇰🇷 | t.me/Cardanakr
*VN 🇻🇳 | t.me/Cardanavietnam
*BRA 🇧🇷 | t.me/cardanabrasil
*CN🇨🇳 | t.me/cardanachina
*IND 🇮🇳 | t.me/CardanaIndia
*TRY 🇹🇷 | t.me/CardanaTurkey
We have seen our holder count increased by more than 100 this week, thanks to our influencers across the globe.
*(Azerbaijan) Crytpto Logy: https://youtu.be/LZGhOzyHIoc
*(English) Self Made: https://youtu.be/3Xt-mYRZyWw
*(English) Crypto Wave: https://youtu.be/UTJ31fLhVdw
*(English) Krypto Kid: https://youtu.be/9GfVEeW3AwM
*(Hindi) Technical Sam: https://youtu.be/6fKwDaiPjpI
*(Hindi) Cheap deals: https://youtu.be/5R3FmxQHyHM
*(Pakistan) Crypto Shanza: https://youtu.be/iXGr24VCu7A
*(Portuguese) souEngenheiro: https://youtu.be/eANgweFQ1s0
If you haven’t seen the welcome video by our Head of Community Jake, be sure to look at our pinned Telegram message.
Also, don’t forget to participate in our airdrop. Sign up before the end of the month. More information is available at https://twitter.com/CardanaFin/status/1426308425751859210
More importantly, we have made significant headway in our designs for our dApp.
Our token info has now been updated on BoggedFinance and we are following up with CoinGecko on our listing.
Next week, we will
*Expand our geographical footprint further on Telegram and YouTube;
*Continue to work with influencers;
*Work on website translations; and
*Announce the release date of our white paper (very soon)
We appreciate everyone’s support, keep hodling!
When will the lending platform be live? I heard it might be ready in September is that true? Very bullish on this project 🙌🏼
Hi Wenbinance, Thanks for your interest in Cardana. The platform will be live in later this year. We will release a prototype shortly. Stay tuned!
When will the lending platform be live? I heard it might be ready in September is that true? Very bullish on this project 🙌🏼
💵 Cardana Airdrop is live!!!
🏮 Welcome to Cardana official Global Community
Participate in our Airdrop and earn to 400 $CARD tokens for doing tasks and 5 $CARD for each referral.
Join our airdrop here:
https://t.me/CardanaAirdropBot?start
🏮 Welcome to Cardana official Global Community
Participate in our Airdrop and earn to 400 $CARD tokens for doing tasks and 5 $CARD for each referral.
Join our airdrop here:
https://t.me/CardanaAirdropBot?start
Know more about Cardana, the future of global P2P lending, in Hindi: https://www.youtube.com/watch?v=5R3FmxQHyHM&ab_channel=CHEAPDEALSCRYPTO
White paper and DApp prototype are on their way!
Our roadmap is available on our website. Feel free to ask us any question.
We are expanding our geographical footprint. Our plan is to have a Telegram group and a website for each major country.
Join our #Telegram chat in your language:
EN | http://t.me/cardanafin
KR | http://t.me/Cardanakr
VN | http://t.me/Cardanavietnam
CN | http://t.me/cardanachina
BRA | http://t.me/cardanabrasil
EN | http://t.me/cardanafin
KR | http://t.me/Cardanakr
VN | http://t.me/Cardanavietnam
CN | http://t.me/cardanachina
BRA | http://t.me/cardanabrasil
Another fruitful week at Cardana!
We have reached an ATH and now have over 300 strong holders. We also expect our token information to be updated on BscScan and BoggedFinance very soon.
This week,
- We have expanded our geographical footprint to not only Brazil, but also to Russia and Korea.
- We continue to be heavily featured by influencers on YouTube
- We have made some progress on our whitepaper and our initial designs
- We have applied to BoggedFinance to update our token info.
- We have followed up with CoinGecko on our listing.
Notably, this is Money Ninjas’ second time to cover Cardana. He was super bullish with the project after seeing the traction we had over the past week and has decided to feature us again.
You can revisit last week’s videos here:
- Money Ninjas: https://www.youtube.com/watch?v=CJpK3x52YpM&ab_channel=MoneyNinjas
- Jim crypto: https://www.youtube.com/watch?v=KeWPQnO2cQk
- Shark Gains: https://www.youtube.com/watch?v=wTxv2Vcahao&ab_channel=SharkGains
- The DeFi Pub: https://www.youtube.com/watch?v=ikNPNWzPEco&feature=youtu.be&ab_channel=%E2%9A%A1TheDEFIPub%E2%9A%A1
- Krypto Kid: https://www.youtube.com/watch?v=KqlAWBc4sWU&ab_channel=Kryptokid
- KRYPTO RETICH: https://www.youtube.com/watch?v=S7BKZFsBCKY
- KRYPTO RETICH (Russian): https://www.youtube.com/watch?v=huvalPUZfNM
Next week, we will:
- Expand our geographical footprint further
- Provide more details to the community about the lending platform
- Continue to collaborate with different influencers
- Ramp up marketing on Reddit and other major platforms
- Make more headway with our designs
Thank you all for your ongoing support, and see you at the end of the week when we hit our next milestone of $2.5m!
We have reached an ATH and now have over 300 strong holders. We also expect our token information to be updated on BscScan and BoggedFinance very soon.
This week,
- We have expanded our geographical footprint to not only Brazil, but also to Russia and Korea.
- We continue to be heavily featured by influencers on YouTube
- We have made some progress on our whitepaper and our initial designs
- We have applied to BoggedFinance to update our token info.
- We have followed up with CoinGecko on our listing.
Notably, this is Money Ninjas’ second time to cover Cardana. He was super bullish with the project after seeing the traction we had over the past week and has decided to feature us again.
You can revisit last week’s videos here:
- Money Ninjas: https://www.youtube.com/watch?v=CJpK3x52YpM&ab_channel=MoneyNinjas
- Jim crypto: https://www.youtube.com/watch?v=KeWPQnO2cQk
- Shark Gains: https://www.youtube.com/watch?v=wTxv2Vcahao&ab_channel=SharkGains
- The DeFi Pub: https://www.youtube.com/watch?v=ikNPNWzPEco&feature=youtu.be&ab_channel=%E2%9A%A1TheDEFIPub%E2%9A%A1
- Krypto Kid: https://www.youtube.com/watch?v=KqlAWBc4sWU&ab_channel=Kryptokid
- KRYPTO RETICH: https://www.youtube.com/watch?v=S7BKZFsBCKY
- KRYPTO RETICH (Russian): https://www.youtube.com/watch?v=huvalPUZfNM
Next week, we will:
- Expand our geographical footprint further
- Provide more details to the community about the lending platform
- Continue to collaborate with different influencers
- Ramp up marketing on Reddit and other major platforms
- Make more headway with our designs
Thank you all for your ongoing support, and see you at the end of the week when we hit our next milestone of $2.5m!
Cardana has passed the TechRate audit today with flying colours: https://cardana.io/wp-content/uploads/2021/08/Cardana-Full-Smart-Contract-Security-Audit.pdf
Well it quite good to see the token can reach almost $1million cap and has $110K liquidity, impressive.
What about token that reserved for airdrop, I see it on the site but did not see the plan in the roadmap that you wrote, when will you launch it? it would be great to know about it, so people will not miss such a good opportunity.
What about token that reserved for airdrop, I see it on the site but did not see the plan in the roadmap that you wrote, when will you launch it? it would be great to know about it, so people will not miss such a good opportunity.
Hi sukoyomi,
Thank you for your interest in the Cardana airdrop. We will make sure we promote it before the event starts so people are not going to miss it!
did you just name your project after cardano?
btw, i don't get the idea of loaning something and you should have the collateral as almost the same amount of your loan? and the platform is not an established and popular one. getting clients would be very hard in the beginning so you need to offer something good to attract your potential customers.
btw, i don't get the idea of loaning something and you should have the collateral as almost the same amount of your loan? and the platform is not an established and popular one. getting clients would be very hard in the beginning so you need to offer something good to attract your potential customers.
Hi AmoreJaz
Some people might find our name similar to Cardano. However, our ticker $CARD is very different so there's not going to be any confusion.
If you look at our competitors, say Celsius, you will find that overcollateralisation is the norm. The value of the collateral is always meaningfully higher than the value of the loan to start with.
We attract users with our unique selling points (USPs). One of which is that we accept tokens which others do not normally accept as collateral, including BSC tokens like $SAFEMOON.
Cardana is heavily featured by influencers on YouTube and TikTok, including
- Goalorious: https://www.youtube.com/watch?v=iw763mabDDE&ab_channel=Goalorious
- Money Ninjas: https://www.youtube.com/watch?v=kCLUEZzoADc&ab_channel=MoneyNinjas
- Crypto Earl: https://www.youtube.com/watch?v=l7IcO7APFrs&ab_channel=CryptoEarl
- Fomotion: https://www.youtube.com/watch?v=uver1bT-s-o&ab_channel=Fomotion
- Davis Pfaff: vm.tiktok.com/ZSJs9Wdyn/
- dk.idol: https://www.tiktok.com/@dk.idol/video/6988825665952959750?is_copy_url=1&is_from_webapp=v1
- Goalorious: https://www.youtube.com/watch?v=iw763mabDDE&ab_channel=Goalorious
- Money Ninjas: https://www.youtube.com/watch?v=kCLUEZzoADc&ab_channel=MoneyNinjas
- Crypto Earl: https://www.youtube.com/watch?v=l7IcO7APFrs&ab_channel=CryptoEarl
- Fomotion: https://www.youtube.com/watch?v=uver1bT-s-o&ab_channel=Fomotion
- Davis Pfaff: vm.tiktok.com/ZSJs9Wdyn/
- dk.idol: https://www.tiktok.com/@dk.idol/video/6988825665952959750?is_copy_url=1&is_from_webapp=v1
Well it quite good to see the token can reach almost $1million cap and has $110K liquidity, impressive.
What about token that reserved for airdrop, I see it on the site but did not see the plan in the roadmap that you wrote, when will you launch it? it would be great to know about it, so people will not miss such a good opportunity.
What about token that reserved for airdrop, I see it on the site but did not see the plan in the roadmap that you wrote, when will you launch it? it would be great to know about it, so people will not miss such a good opportunity.
did you just name your project after cardano?
btw, i don't get the idea of loaning something and you should have the collateral as almost the same amount of your loan? and the platform is not an established and popular one. getting clients would be very hard in the beginning so you need to offer something good to attract your potential customers.
btw, i don't get the idea of loaning something and you should have the collateral as almost the same amount of your loan? and the platform is not an established and popular one. getting clients would be very hard in the beginning so you need to offer something good to attract your potential customers.
1 week into launch, Cardana has now 200+ holders and a market capitalization of $1 million. Early backers have 100x their money, based on BoggedFinance data.
Security audit is expected to be completed this week, alongside YouTube collaborations and other marketing initiatives. Stay tuned!
Security audit is expected to be completed this week, alongside YouTube collaborations and other marketing initiatives. Stay tuned!
Cardana
Redefining Credit with Crypto Backed P2P Lending
Redefining Credit with Crypto Backed P2P Lending
Cardana is a decentralised lending platform. It is built on a peer-to-peer (P2P) model in which borrowers and lenders interact directly without the need of a bank, broker, or financial intermediary.
Lenders and borrowers interact directly within the Cardana platform. Cardana allows lenders to provide liquidity and receive interest in return, and allows borrowers to borrow any amount they want for however long by providing collateral, eliminating the need for any registration or Know Your Customer (KYC) processes.
It’s de-fi at its finest — a crowdfunding lending platform for everyone, everywhere, at any time.
Why start Cardana now?
The crypto market has increased rapidly over the past five years, from just under $10 billion total market capitalization in 2016 to $2.5 trillion in May 2021. Nearly 300 million people around the world now hold crypto assets — and the majority are young adults aged between 25 and 34.
While young adults are more likely to be invested in crypto assets, it also goes without saying that young adults are also more likely to have no, or less, cash savings. Oftentimes, this age group is faced with a challenging conundrum — deciding whether to sell a crypto asset they believe in long-term because of the need for short-term cash.
We started Cardana to allow crypto hodlers (including ourselves) to receive liquid funds without selling their cryptocurrencies. Now, individuals who need liquid funds, but want to hold their crypto assets either because they expect their crypto asset’s value to increase or want to avoid short-term capital gains taxes, can simply take out a loan on Cardana.
How does Cardana work?
The Cardana decentralised application (DApp) allows lenders to deposit their crypto assets into liquidity pools which users then borrow from, creating what’s known as a liquidity market. Cardana hosts markets for a number of crypto assets trading on the Binance Smart Chain (BSC), including riskier but popular tokens such as $CUMMIES and $SAFEMOON, as well as stablecoins like $BUSD. Borrowers can withdraw funds from the liquidity pools by providing collateral.
Why lend on Cardana?
Lenders are happy to lend on Cardana despite no KYC or verification process because they can enjoy handsome returns. In addition to interest incomes, Cardana allows lenders to farm the collateral and earn extra yields. Hence, a win-win for both borrowers and lenders.
Also, because the value of the collateral is always higher than the loan, lenders will be made good in case of default. No loss whatsoever. This makes lending extremely safe on Cardana.
- Accessible: Low capital requirement, you can lend as little as $1.
- High interest rate: Interest rate is negative in Europe while you can earn double digit interest on Cardana.
- Safe: The value of collateral is always greater than the loan.
- Quick: The whole process can take less than one minute.
- Huge Demand: 80 million BSC token holders vs. ~1.5 million BTC holders
Why borrow on Cardana?
- No origination, application, or prepayment fees.
- Skip paperwork, credit checks, and branch visits.
- 100% privacy and 0% discrimination; no need to disclose purpose of loan or identity.
- You never make money out of a bank loan, but a crypto-backed loan allows you to earn when your cryptocurrency appreciates; essentially you can borrow for free.
- Collateral will be stabilised as the loan-to-value (LTV) ratio exceeds 90%, shielding borrowers from excessive volatility.
- You don’t have to share seed phrase of your wallet.
- Interest rates are calculated using algorithms, avoiding loan sharks.
- The whole process can take less than one minute.
- We offer loans backed by a variety of BSC tokens which other platforms may refuse to accept.
Can you give me an example?
Say you need $10k of $BUSD today to pay for a nice holiday for you and your wife, but you do not want to sell your $CAKE because you made a killer profit from it (and don’t want to pay capital gains tax on it), but more importantly you’re in it for the long haul.
Instead, you can now go to the Cardana DApp and submit a request to the investor pool to borrow $10k, using your $CAKE as collateral. You review the terms and interest rate, and then, you send your collateral to the smart contract, which is going to act as a custodian.
Very soon, a lender accepts your offer and agrees to lend you $2.5k, sending the amount to the smart contract. Then, two other lenders agree to lend you $4k and $3.5k, respectively. With the sum adding up to $10k, the process is now complete. The loan is initiated and you receive $10k of $BUSD from the smart contract.
Notice how easy and straightforward it is without any paperwork, credit check or branch visit.
After 1 year, you return $11k of $BUSD ($10k of which is interest) to the smart contract and withdraw your $CAKE, at which point has gone up 50%! That means not only are you not paying any cost but you have actually earned 40%.
$CARD: The utility token that backs the DApp
The DApp will be live in later this year, after rigorous testing. The DApp will be backed by our utility token, Cardana ($CARD). $CARD investors make money with every loan transacted on our Cardana DApp. Investors also earn passive income by simply hodling the tokens as half of the transaction tax goes to hodlers with the other half going to the liquidity pool (LP) to increase the price floor.
Tokenomics
There is a hard cap of 1 billion $CARD tokens. Supply is fixed. There is a hard cap of 1 billion tokens. 50% of the supply is paired with BNB as initial liquidity. 15% is reserved for project development. 15% is allocated to marketing and 5% is assigned to airdrop. 7.5% will be vested to the founding team and 7.5% will be awarded to other team members as Cardana expands its team.
- Liquidity: 50%
- Project development: 15%
- Marketing: 15%
- Founding team: 7.5%
- Future team: 7.5%
- Airdrop: 7.5%
There is a transaction tax of 10% to reward hodling, of which 5% goes directly to hodlers and 5% goes to the liquidity pool to create an ever rising price floor.
Roadmap
We launched our utility token $CARD on 22 July 2021, alongside our website and social media platforms.
Our Cardana DApp will be live in later this year, accompanied by an audit and a white paper.
How do I get started?
Remember $CARD investors start making extra money from loan transactions in later this year when the DApp is live. So be sure to buy $CARD before then to ensure you get maximum returns!
Join us
Website: cardana.io
Telegram: Cardana
Twitter: Cardana
Facebook: Cardana
Instagram: Cardana
Reddit: Cardana
Medium: Cardana
Email: Cardana
More information
Price chart: BoggedFinance
Explorer: BscScan
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