Topic: Credefi combines the best practices of DeFi and traditional finance - page 10. (Read 3287 times)

What you need to know about the $CREDI token

Now is the time to remind you about $CREDI — the key token in our project. $CREDI has a perpetual inflation of 5% based on the initial $CREDI supply of 150 million tokens.

Symbol: $CREDI
Network: Ethereum (ERC-20)
Supply: 150.000.000 Tokens

The main utility function of $CREDI is to act as an additional security layer for the loans issued on the platform. Users can get passive income as liquidity providers for $CREDI on UniSwap or liquidity providers who deposit their xCREDI LP tokens in the security module.

Stay tuned to our news to keep learning more about $CREDI! And don’t forget to visit our token’s page on our website: https://credefi.finance

How Credefi solves the problem

We can talk about how our project is revolutionizing traditional finance all day! Might as well talk about it now.

Credefi is a lending and credit platform that aims to merge the worlds of DeFi and the conventional banking setup. Where other decentralized platforms aim to disrupt the market, Credefi intends to merge them in one.

The traditional investment and credit services on Credefi include:

- Investments: With an estimated minimum of 10% return per annum, users will be able to select investments in stablecoins portfolios depending on their willingness to take risks, powered by Credefi generated credit scoring and risk assessments.

- Lending and Borrowing: Direct P2P loan capabilities with people connecting from all over the world, with the option of even a collateral-free loan which will be case dependent.

- Trade Finance: Traditional banking instruments such as Letter of Credit will be available on the decentralized Credefi network, along with others in the plan. Credefi is also partnering with an EU-based financial firm to offer services that are in line with regulations.

- The whole Credefi ecosystem is powered by its native CREDI token.

If you want to know more - please visit our site https://credefi.finance

Fiat – Out, Cryptocurrencies – In

Digital currencies are the future. The Credefi project team realized this long before entire countries started thinking about creating their own digital currencies. Once our project came to be, we began building our own digital currency, and what do we have now? In an effort to make up for wasted time, whole countries are rushing to create national cryptocurrencies!

Among the countries diligently working on the launch of their own cryptocurrency are China, Japan, Turkey… Digital assets have also been of interest to the US and some European countries (Estonia, for example, already has a digital currency in place).

What is the natural conclusion? Today people understand: the fourth industrial revolution is coming and the economic system will also change – fiat will fall out of existence. This is why cryptocurrencies are seeing more popularity and demand. Credefi is built using the most advanced technology, which makes our platform as transparent as possible.

ETH's London Hard Fork

London hard fork on the ETH network is the main news story of the past week! The most notable updates included in the hard fork are EIP-1559 and EIP-3554. The first one is supposed to drive down both commission fees and miner profits. The second one postpones the mining difficulty bomb until December 2021, which mitigates the decrease in mining profitability somewhat. Once the bomb “goes off”, Ethereum will start the gradual process of moving away from Proof of Work to a more eco-friendly and efficient Proof of Stake and Ethereum 2.0.

Why is this relevant to Credefi? $CREDI tokens are located on the Ethereum blockchain, and whatever happens to Ethereum affects our token too! We are happy that the update that brings more convenience to Ethereum went well!

DeFi Market Stats

It seems like for the past few weeks the total value locked (TVL) in DeFi has been acutely climbing up at a rate of ~$5B every 7 days. We saw this rate maintained again this week upon the ecosystem’s TVL growing from $69B to +$74B.

Great news for all DeFi users!

Tips For Traders

We continue sharing advice on how to succeed in trading. Today we would like to touch upon profitable altcoin strategies.

If you consider holding altcoins in the long-term, or want to build a long-term portfolio, we recommend you to look into coins that have been trending for the past few months and getting support from the community. Such assets have a lower risk of devaluation compared with those less supported by the community.

Watch the price chart and learn to analyze it, understand when and why drawdowns and consolidations happen. It is during these times that whales are most likely to accumulate coins, and it is a good idea to join them. When the time comes and the market sentiment flips due to some positive news about the project, the price will respond in an upwards direction, giving you an opportunity to book a nice profit for yourself!

CBDCs and their imminent popularity

Do you know what CBDCs are? CBDC stands for central bank digital currency, and a number of countries have announced their intentions to launch theirs in the near future.

Amid the growing popularity of such assets, Guardtime, a blockchain analysis company has polled citizens of 10 countries, asking if they plan to use CBDCs when they are implemented. Almost two thirds of those surveyed said they are likely to use CBDCs after they are launched. Most of those surveyed also believe that we will see a CBDC deployed within the next three years.

The research says 64% of those surveyed would use a CBDC if it were deployed, 33% would “likely” use a CBDC. Only 10% said they would “never” use a CBDC.

The study also looked into how many people would convert their savings into CBDCs. Some 33% would move their savings into a CBDC within one month of its deployment. Some 26% would do the same within six months. Only 11% say they would never convert their savings into CBDCs.

About 30% of those surveyed are ready to receive their paycheck in a CBDC, and 27% expect their employer to switch to a national CBDC within one to six months from the moment a currency like that is deployed in their country. Some 12% claim to have made up their mind to never accept a paycheck in a CBDC.

It seems like the world is getting ready to embrace national digital currencies. What do you think? Would you use a CBDC if it became available in the near future, or would you rather wait for it to get thoroughly tested?

Are loans easy to get these days?

Not really! Presently, the problem with lending and borrowing protocols is that rates are pre-determined, cutting across all investors regardless of their risk appetite. The DeFi sector and the Credefi project in particular are changing the game.

Instead of algorithm setting lending and borrowing rates, Credefi will be launching a hybrid system. This new system takes advantage of the best of both centralized and DeFi worlds for better autonomy and flexibility. Eventually, the project aims to be a market-driven and automated crediting system. The project aims to launch its native token, CREDI at the beginning of June, functioning as a governance and reward mechanism.

This way, Credefi hopes to revolutionize the way money is utilized. We will provide a wide array of services and connect willing parties of borrowers and lenders, including the option of investing in credit portfolios or providing trade finance services.

To learn more about our project, visit our website at https://credefi.finance

How will Credefi help you solve problems?

We have many times mentioned that Credefi is a project that combines the best of the traditional finance world and DeFi. By using cutting edge technologies and the best innovations, the project successfully solves problems users are facing every day.

Credefi was designed in a way, where each participant can lend and borrow money on a decentralized platform, where the contracted interest is determined by his own individual risk appetite. Users will have the ability to not only take out and provide loans, but also invest in credit portfolios, increasing their potential earnings!

In addition, Credefi will provide the means as well as new opportunities to make informed investment choices in order to bring a high rate of return, while helping those in need, but neglected by banks. Credefi has structured its native platform CREDI token to be both governance and reward generating token. Its holders will be able to suggest and vote on decisions related to the development and functionality of the platform, but will also receive rewards and benefits from utilising it on the platform.

Visit our website to learn more https://credefi.finance

Who are bulls and bears?

Bulls and bears — you may have heard about them somewhere before! But who are they? These are the types of traders who both buy and sell, but are positioned to profit from the opposite market movements.

The main strategy for bulls is simple — buy assets that you expect to grow in value. They predict price growth, that is.

Bears predict against assets. They don’t buy, they sell cryptocurrencies, and make money predicting the price to go down.

Why these two animals? There are two possible explanations: one is that they come from a story written by a British satirist John Arbuthnot. In his 18th century story, a character with a last name Bull got into a fight with another, last name Bear, on a stock exchange floor.

Another explanation comes from the fact that bears and bulls attack their opponents differently. Bulls attack by lifting their horns, and bears strike their opponents with their claws in a downward motion. These can be tied to market movements: a bull market goes up, a bear market goes down.

And you, are you a bull or a bear? Let us know in the comments!

DeFi Market Stats

DeFi’s total value locked (TVL) surged $10B, climbing from ~$59B to +$69B in that span.

Yet just like last week when we saw positive price action in spite of serious regulation news, we have a similar dynamic at work now. The U.S. Congress has jammed in anti-crypto rules to a widely popular infrastructure bill that, at least right now, has good chances of passing. The language of this crypto section is so broad that it would make almost all DeFi actors have to adhere to onerous, i.e. impossible, user reporting rules. If this bill passes then DeFi activity in the U.S. could begin to suffocate.

How does Credefi ensure security?

Credefi is working hard to improve the lending marketplace and the lender and borrower screening system. We are working on a unique system that will make the process of taking out a loan fast and secure. A wide choice of collateral options with high-level risk assessment, backed by a EU-licensed financial institution.

Credefi mitigates the regulatory risk of large pools by offering a full spectrum of financial services, including peer-to-peer loans, passive lending and trade finance. The platform’s multiple value creation mechanism offers continued incentives for providing liquidity for CREDI and xCREDI, which adds deeper liquidity to both tokens.

This way Credefi is not just a project similar to other popular projects, it breaks new ground in the DeFi world!

Why does DeFi lending thrive?

The lending market is an important funding source for any industry. For cryptocurrency businesses — exchanges, funds, fiat gateway services — the access to cheap loans backed by the predominant asset on their balance sheets can open up a lot of capital-intensive opportunities.

New products in this field are especially attractive to borrowers from countries with expensive bank loans. For example, in an economically-unstable Argentina, it’s not uncommon to see interest rates above 60%, and with limited options for inflation-resistant store of value.

Annual Percentage Rate (APR) in crypto lending is very low. You can not only get a cheap loan, but also enjoy yields on your capital at minimal risk.
This doesn’t just replace traditional financial institutions, it makes loans and deposits worthwhile for both sides, combining the strengths of the traditional finance and DeFi markets. This is where you will find Credefi!

Advantages of Credefi

A post detailing our project’s advantages is always helpful since this is one of the hottest topics we get questions about, and we are okay with that. Projects can only bring transformational change to the financial system if they can deliver on their promise.

So what is Credefi’s promise?

🔸 High APY. We don’t do arbitrage between the lenders’ and the borrower’s agreed interest. The lenders are entitled to the entire interest of the facilities they finance.

🔸 Strong Liquidity. Because the global digital asset market is a decentralized financial institution, it creates a vast pool of liquidity.

🔸 Decentralization. In order to achieve a true decentralised decision making and autonomous lending platform, Credefi has designed a bridge between the current financial assessment tools and decentralised decision by the market participants.

🔸 Fair deals. We perform credit risk analysis on every application on our platform. We adjust our rating to the actual data. We help lenders and borrowers find the right balance.

🔸 Security. We will implement 3-layer security for our platform lenders. It combines a DeFi tuned risk assessment process, security module and strategic partnership with an accredited financial institution.

🔺 Even more information about  Credefi can be found on our site https://credefi.finance

Team Credefi is Growing: New advisor joins the family!

The team behind Credefi is beyond honored to announce the inclusion of a new member on its advisory board - Viktor Larionov - Co-founder and CEO at Priority Token and Industry 4.0 Investment Bank.
Credefi’s mission to revolutionize the shape and form of DeFi is one step closer to its achievement!

The latest addition to the ever expanding Credefi team, Viktor, has worked for and alongside iconic blockchain projects, where his high-level focus helped towards the development and business growth of well-known industry names, such as Upbots, Faceter, Creditum, Lottonation, Modultrade, Playkey, Bitrewards and many more.

A University of Maryland Global Campus graduate, Viktor Larionov has 15+ years of experience in blockchain technology, crypto start-up advisory services and mentorship. His impressive skill set and professional approach has helped him raise over $500M of funding and successfully consult 100+ projects in the crytpoverse.
Being the CEO of the longest continuous serving agency for token generation events, Priority Token, Viktor is also the founder of MOST Marketing Russia, adding to his impressive marketing knowledge and expertise.

Team Credefi has been following Viktor’s work for years and has been drawing inspiration and motivation from his constant pursue of technological evolution, contributing towards the creation and sustainability of diverse blockchain solutions. Credefi and Mr. Larionov have joined forces to turn their shared vision of DeFi becoming widely and easily accessible to everyone globally into a beauteous reality.

Working together, Viktor and Team Credefi will look into new ways to eliminate the gap between the traditional financial world and the crypto economics. Credefi in its own, is a fundamental project bringing mainstream investors to the fast paced universe of decentralized finance. The team continues to explore new ways for the creation of seamless flow, interconnection and movement between both markets.

Viktor Larionov about Credefi:

I am truly excited for the future outlook of Credefi! The DeFi space continues to thrive and the amazingly experienced people behind the project have masterfully used the blank canvas of true decentralized finance to combine it with real-world asset integration. Redefining the financial space is not an easy task, but everyone at Credefi is determined to achieve this inherently ambitious goal! I am happy and grateful to be part of the next DeFi game-changer! Thank you!

DeFi Market Stats

After facing sideways and downward chop for much of this month, DeFi’s notably been on an acute uptrend as of Tuesday. This new climb has pushed the total value locked (TVL) in the ecosystem to ~$59B, or some $4B higher than it was at this point last week. So everyone’s breathing, and yield farming, a little easier these past few days.

The team behind Credefi has announced its upcoming migration from strictly ERC-20 to Polygon’s (formerly Matic) Layer 2 solution. This move is a major step towards the protocol’s multi-chain future goals, and it will ensure higher network throughput, low transaction costs and most importantly, it will tackle Ethereum’s scalability hurdles.

Read more: https://link.medium.com/CNlVCgIZcib

Market Problem and Credefi solutions

Today, 1.7 billion people are unbanked, making it very challenging for them to obtain loans and participate in the world of internet commerce. Further, many consumers must resort to payday lending operations to cover liquidity shortfalls. This is one of the many issues we are looking to solve with Credefi.

The current financial system is not transparent. Bank customers have very little information on the financial health of their bank and must place their faith in the limited government insurance on their deposits. Bank customers seeking a loan find it difficult to determine if the offered rate is competitive. Credefi is developing a unique system, where the loan system will be fair, both for the lender and borrower.

Another problem the market is facing — the financial system is siloed. Moving money from one institution to another can be unduly lengthy and complicated. A wire transfer can take three days to complete. This problem is well-known, and some attempts are being made to mitigate it. Credefi uses blockchain to make transactions as fast and cheap as possible.

Want to learn more about our project? Have a look at our website at https://credefi.finance

How does the DeFi market develop?

Why is it believed that the DeFi market is promising? The answer to that question lies on the surface: the DeFi sector is going forward so fast everyone looking is getting blown away!

At this very moment, the total value locked (TVL) in DeFi is at a new all-time high just shy of $55B. Putting this in the context of mainstream finance giants, Square’s market cap is currently $112B, PayPal’s is $308B, MasterCard’s is $380B, and VISA’s is $499B.

This is tremendous news for all involved in the DeFi market! Looking back at late 2020, the $25B threshold seemed like an insurmountable obstacle! Even in January, experts were so conservative, the wildest estimates spelled $50B or $100B by the end of the year... Well, now it seems the $100B mark is easily achievable by early summer of this year!

These figures perfectly demonstrate why everyone who is observing the cryptosphere can’t but notice how rapidly it is developing in comparison with the traditional economy with its principles that have stayed the same throughout thousands of years. In 2008, Bitcoin got in the game, and it was a landmark event. Today, 12 years later, BTC is no longer considered state-of-art. More advanced projects working on blockchain technology are emerging – fast, smart, reliable, and easy to use even for newbies. Let's see why the decentralized finance market is one of the most exciting areas today.

The goal of decentralized financial platforms is to completely overhaul the traditional system of monetary transactions in the most open and seamless manner possible. Many are fascinated by this area because of the ability to create and launch censorship-resistant products, as well as because of the interesting and promising technology that opens up a huge scope for experimentation.

DeFi is sometimes referred to as "LEGO money" for its modularity. By connecting different decentralized applications, you can create completely new projects, simultaneously increasing their user-friendliness, and maximizing your profit.

Why is DeFi innovation so important? Above all, decentralized finance thrives in settings without regulatory oversight. This ensures complete protection of personal life. One of the main challenges on the way to global blockchain development is the hostile environment of outdated laws and regulations, and some DeFi projects have already failed because of this. Credefi has a higher goal in DeFi, and aims to reform the modern industry: we are creating a system that will be transparent, reliable and easy to use. Credefi is bridging the gap between traditional finances and DeFi, by using the world's available computing to power a more decentralized, sustainable and connected world!

Credefi to mitigate the pandemic

The pandemic has dealt a heavy blow to the wellbeing of billions across the world — millions of businesses have gone bankrupt, tens of millions of people have slid below the poverty line. As we see, many citizens across the world suffer from the financial damage inflicted by the pandemic.

Now is the perfect time for DeFi to take on and solve some real, hands-on problems. A few years ago, it would have been a peripheral, almost ignored undertaking, while now it has the chance to play an active role in the economy.

Due to the scale of their loss, financial institutions are not always ready or willing to secure the victims with monetary support. There are millions of such victims around the world. Right now we have to take a step away from the localized approach and reliance on the local institutions for help. We have to search for one global, universal solution - and Credefi aims to provide this kind of a solution to its users!