Venue : @Crypto_miners_Community
Date : 27th September, 2021
Time : 11.00AM UTC

Guest : MR BK

Mr BK shared with us a well detailed insight into the Project and Unique features of Decredit…

Jennifer:
nice to meet your guys here~

Jennifer:
I am Jennifer, COO of the DeCredit, and now take charge in operation part of DeCredit. I am an early crypto lover and have been focusing on this field for about 5 years. it's my pleasure to share DeCredit here

Jennifer:
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. It’s decentralized and transparency features will help users to protect their own data and they have access directly to the Defi products they need.

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. We will provide user’s credit score to Defi smart contract thru an Oracle, lower the TVL and thus enhance users’ fund utilization and liquidity.

Jennifer:
Our advantages are mainly in these aspects.

1. we are the world first protocol to build "on-chain and off chain " omni-channel lending scenario.

2. we are the first project realized regional level and global level credit oracle.

3. 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.

Jennifer:
With DeCredit, users can deposit tokens to gain interest, borrow tokens in a higher loan rate, and stake tokens with a higher APY.

As for benefits of holding CDTC, here are points:

1. Holding the CDTC could increase the credit scores so that to increase mortgage rate

2. Stake CTDC in our platform could earn more CDTC income

3. Stake CDTC could receive airdrop tokens.

4. Governance rights of holding CDTC include:
Voting on major matters, including the Credit Loan project
Addition of new cryptocurrencies or stablecoins
Adjusting variable interest rates
Setting fixed interest rates
Oracle services
Product rule improvements
Rating score rule changes
Rating level adjustments
Improvements/suggestions

Jennifer:
Our team is a totally open and creative team, most of them are with study abroad experience and very keen on the crypto industry, some of them have participated the big exchanges’ building and development, and our core members are all with very rich off-chain credit industry experience and blockchain project research and development.

And with their efforts, we have build such powerful community and product, they are very essential to DeCredit.

Jennifer:
CDTC is the governance token on DeCredit and holding CDTC means the right to govern the DeCredit system. With great recognition and value in the DeCredit ecosystem, CDTC is defined as the public token (platform token) that circulates throughout the entire DeCredit. And CDTC has a pivotal role in both the scenario and the wallet ecosystem.

CDTC will issue a total of 300 million pieces, distributed as follows:
25% of the total amount (75 million CDTCs) will be used to support the ecosystem development of credit loans and provide ecological support for the lending and borrowing entities.
20% of the total amount (60 million CDTCs), node pledge and liquidity mining.
12% of the total amount (36million CDTCs), market and community governance, used for community construction, publicity and promotion, brand building, node incentive
20% of the total amount ( 60 million CDTCs) will be used for team consultants, early investors, and early eco-supporters.
18% of the total amount (54 million CDTCs).
5% of the total amount (15million CDTCs).

Jennifer:
About half a year.

and 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.

In the near future, the IDO with Flybit will be issued on 29 September, and the whitelist event is ongoing, you guys can join if you are interested in it:

🔥DeCredit🔥

🎉New IDO with Flybit

⏰Date:29-Sep-2021

📌Whitelist Round:15:00 to 16:00 (GMT+9)
📌FCFS Round:16:00 to 17:00 (GMT+9)

📣1 CDTC = 0.16 USDT

📌Whitelist application

📌About IDO on Flybit

🇰🇷* 본 토큰스왑은 내국인만 참여 가능합니다. (Only Koreans can participate.) 🇰🇷
https://twitter.com/DeCredit001/status/1441376480747876361

DeCredit Twitter
DeCredit Telegram
DeCredit

FLYBIT Twitter
FLYBIT

Also, we will get listed both on DEX and CEX on 30 September. Let’s stay tuned!

SEGMENT 2️⃣ — Twitter Q & A

Jennifer:
LABS Group is world's first end to end blockchain powered real estate investment ecosystem. And they want to make real estate investment possible for everyone.In order for this to happen, they need to resolve the few core pain points of real estate investment, namely the lack of liquidity, high involvement costs and difficulty in cross border investments.

As they want to be able to allow users to stake their real estate tokens and then borrow against them, so that users can reinvest and hence financial leveraging. Hence collateralized lending platform is the best solution for financial leveraging on real estate assets. Thus, with this demand, we have reached a partnership.

We can check the picture above to know more:

Jennifer:
1.DeCredit is a decentralized lending program powered by a credit oracle that matches peer-to-peer and user-to-user ending behavior on a blockchain network. DeCredit's stable-coin lending pool is available for this collaboration with LABS Group.

2. LABS Group mints the property rights or titles of its housing assets to NFTs and deposits 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.

3. LABS Group then converts the borrowed funds into fiat money and gives it to LendCo.

4. LendCo allocates funds to different t real estate projects.

5. When the investment cycle ends, LABS Groups returns funds back to DeCredit and redeems the collaterals.

Jennifer:
We have cooperated with French KOL before, but as the project develops, more and more KOLs from the worldwide are volunteer to create some videos about DeCredit, we really appreciate their support and trust. And in the near future, we will look for more KOLs who can speak English for more users to better understand.

Also, you can check the recent updates in our official telegram or Twitter or Medium:
DeCredit Telegram: https://t.me/DeCreditenglish
DeCredit Korean Telegram: https://t.me/DeCreditKorea
DeCredit Twitter: https://twitter.com/DeCredit001
DeCredit Medium: https://decredit.medium.com/

Jennifer:
Currently, we support BTC, ETH, USDT, BNB, BUSD. And our mainnet will be launched in October, let’s stay tuned!

And to deposit tokens to our platform, you need to bind Metamask wallet first and set up for BSC network, also make sure that your wallet has a certain amount of supported tokens, then you can deposit tokens from your wallet to DeCredit platform, after the deposit, the interest will be calculated.

Jennifer:
kindly join it from here: https://t.me/DeCreditTestnetAirdropbot

And here is the tutorial, please read it before participate it: https://decredit.medium.com/decredit-user-manual-how-to-join-the-testnet-on-mobile-f95b86aaa6e

Jennifer:
💲Total for airdrop: 50,000 CDTC
🔸20 CDTC each to 2,000 Random winners for completing the mandatory tasks
👫50 CDTC each to 200 Random winners for completing the optional task

After distribution, users can claim airdrop tokens on the DeCredit mainnet.

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

For DeCredit, we adopt 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 current market, and once the product has its meaning to exist and token has multiple utilities, the project can have a long-term development.

Our product testnet has come out, and the testnet event is currently ongoing, you can have a try , btw, you can also get reward for participating it.

SEGMENT 3⃣ — Live Q & A

Jennifer:
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.

Jennifer:
The presale has come to an end. As for the publicsale, we have just finished IDO on DuckStarter and the new IDO on Flybit will be issued. You can join it if you are interested in it:
🔥DeCredit🔥

🎉New IDO with Flybit

⏰Date:29-Sep-2021

📌Whitelist Round:15:00 to 16:00 (GMT+9)
📌FCFS Round:16:00 to 17:00 (GMT+9)

📣1 CDTC = 0.16 USDT

📌Whitelist application

📌About IDO on Flybit

🇰🇷* 본 토큰스왑은 내국인만 참여 가능합니다. (Only Koreans can participate.) 🇰🇷
https://twitter.com/DeCredit001/status/1441376480747876361

DeCredit Twitter
DeCredit Telegram
DeCredit

FLYBIT Twitter
FLYBIT

Jennifer:
Security is always our priority, and in order to protect the user's data, we first need to ensure that the data is not publicly available, but the user's credit data is so personal that even if it is stored on the DeCredit project's servers there is no guarantee that only the user will know about it. While if it is placed on the blockchain, the data volume would be too great a burden on the blockchain.
Considering this, we use the "off-chain data storage plus on-chain DNA fingerprinting" approach, where we store the hash value, which is the proof of the authenticity of the data on the blockchain, and the hash value of the same offline file is exactly the same. When a call is required, a pointer to the hash operation shall be presented, then the data will be retrieved and proof is provided by
comparison.
The solution to satisfy the right to erasure is the following: the DNA values of personal data are stored in the DeCredit chain. This is encrypted using a triple key, one proprietary to DeCredit, one persistent Persistence key and one held by the user, whose encryption algorithm is AES256GCM, where the Persistence key is generated by the smart contract and stored on the server, as shown in the diagram. If a user exercises the right of deletion and requests that the information on the chain be removed, this can be done by destroying the Persistence key, which is encrypted with AES256GCM.

COVID19 is a nightmare for the people all the world, however, the past year has been a significant one for cryptocurrencies and blockchain. In the face of such extremity and economic meltdowns, cryptocurrencies have proved to be remarkably resilient. Fortunately, the rapid increase in accessibility of global high-speed internet and digitization has created a ripe environment for digital currency. And many DeFi and NFT related projects were emerging during the period, and in such situation, we thought that it is more an opportunity rather than a disaster, so we come up the credit loan idea and aim to lead the DeFi protocol 2.0 market.

Jennifer:
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.

— AMA CONCLUDED —
Follow Decredit here for the Latest Updates…💎

DeCredit website: https://decredit.io/
DeCredit Telegram: https://t.me/DeCreditenglish
DeCredit Korean Telegram: https://t.me/DeCreditKorea
DeCredit Twitter: https://twitter.com/DeCredit001
DeCredit Medium: https://decredit.medium.com/

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