Speaker : Jennifer, COO of the DeCredit
Date : Wednesday Oct, 13rd 2021
THERE IS 3 SESSION FOR AMA
- QUESTION FROM TWTITTER
- FREE QUESTIONS
SESSION 1 INTRODUCTION
Please introduce yourself and tell how you started a crypto business ?
I am Jennifer, COO of the DeCredit project. I have involved in this field since I graduated from university, and at first, I served as opeation assitant in some big exchanges, later on, I focus some projects and take charge in opeation parts. It’s my pleasure to be here to share DeCredit!
Can you explain what is DeCredit and how long your project launch !? Please explain in simple sentences.
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.
Thanks for the answer, next question.
Can you share with the community, what DeCredit has been doing from the roadmap?
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, parami and Weblock, and we have also cooperated with KOLs and communities in many countries.We have cooperated with Duckstarter, a well-known IDO platform, and the public offerings went smoothly! As for operation, our community and Twitter have reached more than 85k and 63k respectively, and the community ambassador recruitment program and daily quiz game are held in the group every day.
Also, recently, CDTC has just listed on BitMart
In the near future, our mainnet will be launched, and will recruit more volunteers, KOLs to boost our brand. let’s stay tuned!
SESSION 2 QUESTIONS FROM TWITTER
Im curious with “off chain on chain system” u bring to investor, what is that? Is it possible to access Decredit without using blockchain? Or it is just have another meanings? Thanks before
In addition to the online lending, we have introduced the off-line credit investigation to expand our application scenarios
In the first phase of DeCredit, DeCredit will fuse the traditional credit institutions and blockchain DAO governance in the hopes of selecting some trusted third- party credit investigation entities and blacklist database institutions.
These selected institutions will be incorporated into credit authentication nodes in DeCredit and a number of region-based Oracle credit nodes will be set up.At the same time, a comprehensive score is assigned to users based on the data uploaded by the said selected institutions, and the comprehensive score is transmitted to the DeCredit blockchain through the Oracle machines for the purpose of assessing the credit line and APY in terms of crypto credit loans. 2:40 AMIn the second phase, region-based Oracle machine nodes will be integrated to build a globally distributed Oracle credit network architecture. At this phase, returning data to individuals is achieved through decentralised identifiers (DIDs) and personalised credit models will be formed. DeCredit Oracle machines will provide individual assets, liabilities, flow and other credit limits for credit loans. The DeCredit network of Oracle machines will operate with a distributed and collaborative mechanism, taking into account the regional regulatory environment of credit.
I see DeCredit will be offering a decentralized Multiple Asset Staking Pool called “Mpool” in its platform. May I know what cryptocurrencies/tokens it will support? Also, what are needed/requirements to make a deposit into that pool?
Currently, we support BTC, ETH, USDT, BNB, BUSD
And our mainnet will be launched on the official website in the near future. You can check it then.
To deposit the tokens, firstly, you need to get the permission from the Metamask wallet, and make sure there are a certain amount of supported tokens in your wallet, then click deposit button and deposit according to the interface instruction.
In the roadmap,In this phase of the project you will develop a single DeCredit rating system with DeCredit Scoring algorithm, So what benefits will there be for investors at each level? How will users position themselves in the rankings?
The Credit-Scoring algorithm uses mathematical and statistical algorithms to build different models based on the information entered by the user or the credit information, to analyse the user’s profile in a comprehensive manner and to calculate the individual scores of several dimensions, and finally to give the final composite score of the individual. User qualifications and models will be executed using smart contracts. 2:40 AM
As shown above, the assessment module of individual credit qualification includes such modules as debt ratio, property analysis, enquiry analysis, borrowing behaviour, overdue analysis, other factors score, etc.
the algorithm will make a comprehensive judgment on each individual score by building a special model, then based on the score of each individual, the final comprehensive score of the individual will be calculated and then output. One must note that, all data will be managed on the blockchain system.
An individual credit score reflects his/her creditworthiness in a range of scores, generally defined as the higher the score the lower the risk (or the better the credit).
Decision makers will be provided with the final output score and analyze the risks of low scores, thus taking action to avoid and mitigate the risks.
Different business scenarios present different preferences for risk levels and the DeCredit will choose whether or not to provide services to users based on the risk preferences.
Will it be necessary to have third-party platforms to connect the decentralized identity of the Parami Protocol with any other product or application in DeFi? Or really this identity can be adapted to the identity requirements required by any platform?
As for the detailed cooperation information, our tech team and Parami team are discussing, and we will publish further announcement about it, kindly follow our official Twitter to get more update.
One of your latest releases is an R-IDO with DuckDAO planned, I don’t know much about DuckDAO,Then what does DeCredit mean by launching R-IDO,?Does it contain any additional services compared to conventional IDO,?and Why did you choose DuckDAO for do R-IDO?
R-IDO (refundable IDO) means, that users have a given timeframe of 24 hours after the listing to choose between claiming tokens or refund their contribution. Its condition setting is much benefit for users.
DuckDAO is the world’s largest crosschain Incubator for crypto projects, and with the help of Labs, we have connected with them and after deep communication about our project, we decide to reach cooperation and issue an IDO on their own IDO platform-Duckstarter, they are really very supportive and professional, our IDO move smoothly on it.
SESSION 3 FREE QUESTIONS
Hello sir, Do you have AUDIT certificates, or are you working to AUDIT your project, to make it more secure and reliable?
Our smart contract has passed audit by the Knownsec Blockchain Lab recently, which is a very professional audit company.
What are the main factors that makes DeCredit so unique and more beneficial compared to its competitors in the DeFi lending platform market ?
Our advantages are mainly in these aspects.
- We are the world first protocol to build “on-chain and off chain ” omni-channel lending scenario.
- We are the first project realized regional level and global level credit oracle.
- Our biggest foundation is that our team has deeply engaged in credit investigation market for many years and has rich industry resources in credit investigation protocol, big data credit investigation, industrial fund, data risk control, etc.
Do you have any Coin Burn / BuyBack systems or any Token Burn plans to increase the value of Token & attract Investors to invest?
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.
Do you have a governance token
Are you decentralized, and is this project good for newbies or you appeal only professionals?
CDTC is the governance token on DeCredit and holding CDTC means the rights to govern the DeCredit system. CDTC’s governance rights such as: Voting on major matters like DeCredit loan project; adjusting variable interest rates; rating score rule changes; rating level adjustments; improvement/suggestions. Similar rights will be added to token governance.
CDTC has value in the Decredit ecosystem. Additionally, CDTC plays an important role in Decredit’s application scenarios and ecosystem, and we’re all going to give it more power in our ecosystem, holding CDTC will become increasingly important.
How much do you value your community and what role do they play in major decisions taken and are you truly democratic?
- 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.
- We provide 7*24 customer service in our TG group. Also, we have a daily quiz game for everyone to join and get the rewards. Currently, we have issued the community ambassador program for all the members to join in and become a part of the DeCredit.
More Info About DECREDIT