We are pleased to announce our next AMA on December 27th 2020 at 03:00 PM UTC Time: Satoshi Club x SmartCredit.io
⚠️Click to see the hour
⚠️Total Reward pool: $3000
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join SmartCredit.io Telegram group
We will have the following structure:
Part 1: 500$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 6 Questions will be selected from our website – please submit your questions in the comments section of this post.
Part 2: 500$/15 users – Open chat for 100 seconds. You can post Max 3 questions. SmartCredit.io Team will select 15 questions and answer them.
Part 3: 2000$ – A quiz about SmartCredit.io
For more details:
SmartCredit.io – @SmartCredit_Community
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
What is the formula of credit score creation and how much time does it take to create a good credit score?
You claimed in your AMA from other group that SmartCredit.io is a DeFi lending platform with low collateral ratio for the Borrowers, with fixed-interest-rate, with-fixed loan term and it offers the Fixed Income Funds for the lenders. Clearly, all are in fixed-values, does this mean there is no minimum or maximum amount to borrow? How do you compute Fixed-interest rate and Fixed-Income Funds that you will offer to the Borrowers?
SmartCredit.io offers Fixed-Income Funds to the Borrowers and In the traditional finance the Fixed-Income Funds are way way higher compared to that of money market funds which most DeFi today is following, so what makes you complementary against the money-market funds?
How did you connect traditional Finance’s Fixed-Income fund in the DeFi sector (and as well in the crypto sector), how SmartCredit.io beneficial and gives win-win ROI to both investors or users and to the platform?
question:
Whether we like it or not, Defi and Non-Custodial Lending Platform like SMARTCREDIT is still at the Baby Stage and has lots of room to improve. so, Can you tell us What are the needed improvements in DEFI that SMARTCREDIT possesses or trying to possess in the future?
On numerous occasions, Investors find security in their investments in Centralized Platforms or the Custodial Wallets lending/Borrowing.
so, Do you see the Centralized Platform as your competition or Can you work with them as well to bring mass adoption?
In the Money-Market-Fund common with most Defi lending platform, interest rate fluctuates as it is determined by the forces of demand and supply which is in tandem with general economic principle. Interest acruall to lenders can increase if an asset value goes up and when there are more borrower’s activity on that asset. However, From your Fixed-Income-Fund model, the interest rate for lending is already fixed or pegged to a given predetermined percentage. How is this percentage determined? Also, don’t you think this approach tends to limit and shortchanged a lender income acrual especially when the value of the lender’s locked assets in your smartcontract has increased significantly over the lock duration?
Smartcredit makes use of the Fixed-Income-Fund finance approach which is similar to the traditional finance model. This implies that you are going to lock both borrowers asset collateral and lenders lending assets in a smart contract for a fixed period of time. There can be a serious financial risk if there is a smartcontract hack or breach. Kucoin recently lost over $280 million as a result of a security breach. How is your smartcontract protected? I have searched your website but the articles published there majorly centre around credit systems, digital models and wealth distribution. I can’t find any news on your smartcontract audit or any audit report. Is your smartcontract tested or audited and by who?
1. Smart.credit project needs to do to be better known and accepted?
2. What do you think are the most important characteristics of Smart.credit ?
3. What are your priorities when looking for partners?
1. What is the uniqueness of SmartCredit that cannot be found in other projects that’s been released so far? And how the demand of your $smartcredit will increase in the future? or what steps would you take to increase the demand?
2. Could you tell us about some important SmartCreditpartners and how they work on behalf of their community to spread more SmartCredit?
3. What do you consider your greatest achievement in the project at the moment?
Hi,
How are there any similar projects alrrady that use blockchain also
2 how you plan on competing with then exactly. How you are different and plan to compete witj them?
3. What is planned for 2021 to acquire more clients (Marketing budget?) and nr of targets registered users etc.
How does the crypto asset management work? Is there a team of professionals that manage this assets, like in the regular finance world? Also, what is the fee for this service and do you provide any insurance regarding the results and the security of the funds?
Why Smartcredit? What is the advantage of this project among its competitors?
As I see most of the financial markets only borrow or lend stable assets, I see that SmartCredit.io too, you lend ETH but Eth usually has an unstable price, for example I want borrow 10 ETH from you but when I borrowed only 300 $ for 1 ETH, but when I pay, the value of ETH is 600 $, what will happen? So how will you adjust the value of your assets when there is a high difference in asset value between the loan period and the settlement?
One of the areas your project prides itself over other project is low collaterization. But having deeper look into your project, I discovered that your collateral requirements are not always low as generally acclaimed since you have tied it up to a borrower’s credit score. Credit score implementation in Defi project can be a subject of manipulation by borrowers. A honest borrower who is concerned about personal data will have to pay a very high interest and provide higher collateral requirements while the one who provide over-bloated information may secure a favorable credit rating. What system do you have in place to verify borrower’s information when giving them credit rating? How do smartcredit derives or calculate it’s collaterization utilization ratio and ensure it reflect fairness and objectivity?
Borrowers can reduce their interest rates and collateral requirements via Crypto Credit Score, what tasks are performed by users in this feature，how is the platform able to lower the interest in a sustainable way ？SmartCredit.io is a decentralized blockchain-based ecosystem. How can SmartCredit.io last for a long time using a decentralized structure? Is a decentralized structure better than a centralized structure?
What is your target with SC token? I mean How will you using SC token in our product?
Are you hiring agency to do the marketing or will you be doing it with internal marketing (in-house) team? Why should i use smartcredit and not other platform what is the benefits i can get for using smartcredit
After going through the whitepaper and understood most of it, I was convinced that this is a really good project to invest in. However, I have the following doubts and needed to be cleared on it:
1. If default, why should the credit coins be transferred to the Loss Provision Fund instead of serving as an interest to the lender since no interest will be paid?
2. In what form would the collateral be?
What benefits are on the SmartCredit platform for the following categories of users:
(1) An active borrower on the system
(2) A lender on the system
(3) A partner company, which would integrate the platform’s borrower or lender widgets.
From your whitepaper, it is claimed that when using the SmartCredit.io platform, every lender will have capabilities of a commercial bank and every lender will become a commercial bank. If this notion is actually true, how possible will it be?
The first phrase I see on the website is the you provide defi lending solutions from Swiss bankers. Please elaborate on your background as Swiss bankers. In what banks are you working or have you worked and are they endorsing your activities related to blockchain
On your Medium it says The initial version of the token is a utility token (means of payment) and a loyalty token (reward mechanism). Later, the functionality of a government token (a voting mechanism) will be added, my question because they did not make the governance system all at once so that the community has the power to vote and decide on the system’s roadmap and so on. improve together at the same time and not wait for system migration as this takes time?
In point number 6 of his medium he says We believe in customer-centric innovation, we believe that community proposals can better guide the development of SmartCredit.io (as in Ethereum Improvement Proposals – EIP). We will implement the mechanisms for clients to decide the future of SmartCredit.io my question why did they create a mechanism and not a token under governance from the beginning?
SmartCredit is like a traditional bank under an Etherum smart contract, so I, as a borrower or lender, how do I get guarantees for my credits or loans to protect my assets in case of loss?
Currently SMARTCREDIT.IO has a credit card, if it has to be done to obtain it, what would be the benefits that this Smart Card gives me?
What is SMARTCREDIT’s strategy to fill the fixed income gap of the crypto economy?
What benefits and value can the SMARTCREDIT platform offer to borrowers, lenders and passive investors?
Can you explain detail the Loss Provision Fund fee? When and How can we use them?
I’m a newbie use your platform so can you share how Borrowers have multiple ways to improve their credit score?
Nice to meet and ask questions for the SMARTCREDIT team! For each project, community support is very important so how does the vote to the community work?
I read:”Our goal is to have a balanced view between all stakeholders” so how do SMARTCREDIT team maintain and achieve that goal?
You claimed in your AMA from other group that SmartCredit.io is a DeFi lending platform with low collateral ratio for the Borrowers, with fixed-interest-rate, with-fixed loan term and it offers the Fixed Income Funds for the lenders. Clearly, all are in fixed-values, does this mean there is no minimum or maximum amount to borrow? How do you compute Fixed-interest rate and Fixed-Income Funds that you will offer to the Borrowers?
I know your strategy is to grow via the integrations, then the integration partners will be rewarded with SmartCredit.io tokens based on the loan origination volume on their platforms too so What is your team’s strategy to maintain and increase liquidity?
How will SmartCredit team use to market and market for SmartCredit.io platform? What will users and borrowers benefit from participating?
I am very impressed with the goal and value that SMARTCREDIT will bring, what conditions will I need to meet to become a loyal customer of SMARTCREDIT? What are the benefits of being a loyal customer?
I noticed that SmartCredit is very concerned and is paying attention to the relationship between “Defi” and “banks”! So can you explain this aspect specifically for us to understand?
SmartCredit’s approach to target customers is very different! Why SmartCredit focuses on the real crypto fixed-income markets but not on the money-market-funds?
Currently many investors and traders need a lot of capital to enter the market, so what is SmartCredit’s advantage in loans and interest rates compared to other competitors?
So exciting when I know SmartCredit is about:
Borrow and Lend
Fixed interest rate loans
Loss provision fund
Fixed-term loans
Low collateral ratio for borrowers
Credit score
And much, much more coming soon!
So how can your team ensure and maintain all of them at the highest level?
Staying in touch and connecting with customers and partners is very important to all projects, does SmartCredit’s support system support 24/7? What languages are currently used when supporting?
I have watched and observed the roadmap of SmartCredit and see that it is currently updated to Q3 / 2021, so what products will SmartCredit add in the ecosystem of SmartCredit in the near future?
1. It is a good project for long term but are there any incentives for short term holders? Why should people buy now?
2. You have been working on the project since 2016, why there are not enought partnerships?
3. Other than fixed income, what will be the strong points of Smartcredit against competitors like Aave and Celcius Network?
The default risk is a common problem in traditional financial markets, so for DeFi, does this risk exist? What solution SmartCredit.io uses to protect the interests of lenders when default occurs?
As I know, 15% the total supply of SMARTCREDIT tokens is allocated to the Reserve and Insurance fund, so what negative / positive cases will this fund be used for? In addition to this Reserve and Insurance Fund, does SmartCredit.io cooperate with other insurance companies?
In other for a borrower to have high chance of getting loans and reduce collateres attached to the loans, the borrower need to have high credit scores that’s calculated from Financial, Psychometric and Social scores. But I discovered that for this to be achieved, the borrower is expected to make use of some private social accounts(including passwords to the accounts) like Facebook and LinkedIn. How safe is this please?
Can you explain in detail what are the requirements to take a loan ?
Your collateral ratios for the Borrowers are much lower than other platforms. What are the reasons that make this possible? What mechanism does Smart Credit use to have that great advantage for all users compared to other platforms?
I loved the way SmartCredit.io have made a thesis about who their users are. According to the numbers you provide in your whitepaper China, Europe and Turkey were leading the numbers of crypto users in 2018, most of them are Millenials. Meanwhile the time has not stopped and South America is now taking a place in the charts but even so it’s all a challenge. What plan does SmartCredit.io has to expanse their products to latin populations? And let us know who are the top smartcredit.io users for 2020 now that the year is almost end.
For credit-coins holders you guarantee a 1:1 conversion in ethereum or stablecoins plus interest. How do you calculate these interests? Are those fixed, variable or mixed interests?
Some of the Smartcredit features like borrow/lending and credit-coins works with ethereum and stablecoins, what influence has the market and gas prices volatility with the whole project? And what kind of stablecoins are already supported?
Currently, what is the minimum limit for borrowing? Is there also a maximum limit for borrowing? What happens if a user exceeds the borrowing limits? Will he still be able to borrow?
Is the minimum and maximum limit for borrowing the same for all users? Have you not thought of creating a reputation program where users with higher reputations have higher limits for borrowing?
As you well said in your website, KYC is crucial to fiat integraton with DeFi platforms. This actually works as a bridge with the real world finances. However, some users can be afraid to reveal their identities and personal data, what consists of your KYC system? And how can you ensure to your community their identities are safe?
What kind of crypto lending is Smartcredit.io supporting at the moment? And what are the risks associated to trusting the contracting party with the management process of lending/margin?
What happens if a party get hacked or is having regulatory issues during a borrow/lending process? What’s the paper of Smartcredit as intermediary?
What makes this project took 3 years for ideation? Did you guys identified any problem cases that only Smartcredit is solving? Just be curious. Is it only for personal fund pools or are there any more ideas for the token in the pipeline you can share? Will there be any options in the near future that he or she can loan out to clients and earn commissions by allowing clients using to use the system ? Similar to bankers that use bank funds not there’s.
I see Smart Credit offers a great product and has great potential. But why do we feel that Smart Credit is less well-known, have you thought of a good marketing strategy to increase the awareness of your product?
How is the credit score of each borrower calculated? If a borrower wants to get a higher credit score, what should he do?
The SmartCredit.io vision is to provide the key components of the alternate blockchain-based financial system – the crypto lending/borrowing, the fixed income funds and the integrations. So What are these key components of the alternate blockchain? How does smartcredit handle those things?
As i know,Credit money is 90% of fiat money
The current monetary system comprises base money that is created by central banks and credit money that is created by commercial banks during the loan creation process. And depending on the respective country, base money accounts for around 10%-20% of total money supply. The remaining money supply – approximately 80%-90% – is created by commercial banks electronically during the lending process and it is enforced by commercial law and the competent courts. And most of the global economy today is based on credit money but cryptocurrencies lack this credit money concept. So how can SmartCredit solve the credit money problem in the crypto space ?
If I provide my data and go through the credit score procedure, I will receive special conditions on SmartCredit.io. So is my data provided to any third party? Are you planning to use AI technology to calculate Crypto Credit Score?
Paypal already accepts Bitcoin, and soon various Crypto Credit cards will be born. How will SmartCredit take advantage of this? what is your vision regarding collaboration with those payment providers?
When borrowers want fast access to credit and fair interest rates. While lenders want fair interest rates,payment protection, no hassle dealing with borrowers with different credit scores, and no need to analyze the credit scores of borrowers,no need to create credit portfolios as means of managing credit risk Monetizable claims behind the loans, which can be used as means of payment. How can SmartCredit meet the needs of each group of customers?
With Smart Credit, Investors can set up their Personal Fixed Income Funds to automatically invest into the borrower’s loan requests. So is its profitability better than other Yield-Farming models? Can users easily control their automated investments?
Hi Team,I had tried the Celsius app (one of the SMARTCREDIT competitors) for getting loan of $500 USDC they required $1000 of ETH as collateral for 7.55% APR.Similarly, I checked with Smartcredit web application for the same loan amount of $500 DAI the required collateral is also around $1000 equivalent of BAT, even though the fixed interest is better than celsius, AS A USER THE MAIN PROBLEM IS PROVIDING 2X LOAN AMOUNT AS COLLATERAL FOR THE LOAN WE GET, HOW SMARTCREDIT WILL SOLVE THIS PROBLEM IN FUTURE??
BECAUSE IN USER PERSPECTIVE, THIS IS THE BIGGEST BARRIER TO PROVIDE 2X COLLATERAL FOR THE LOAN
Hi Team, In the Litepaper your team mentioned that low collateral compared to other Defi lending platforms, but when I checked with the smartcredit web application the collateral required is around 2X for the loan amount X. which is the same in Celsius application then how would you claim your application require low collateral for loans among your competitor?
Hi Team, In smartcredit application how the RISK RATING AND CREDIT SCORE is calculated in loan request, for me it is showing a risk rating as 1 how? and what does it mean?
What improvements can we expect with version 1.1 and 1.2 and when would we expect them?
How much is the estimated market size for lending barrowing platforms and how much of a market share Smartcredit targets in the long run?
We know that SmartCredit APIs can be integrated onto other platforms for ease of use. Since SmartCredit is non-custodial, will custodial platforms be able to integrate SmartCredit widgets/APIs into their platform or does it have to be a non-custodial platform only?
1. From your whitepaper: “SmartCredit.io has an onboarding module. If certain transaction limits are achieved, then the users have to complete the KYC. If bigger amounts of the transactions are executed, then AML analysis will be activated.”
How will you prevent people from making lots of accounts and make transactions below the KYC threshold, defaulting on their debt and therefore draining the loss provision fund?
2. Where is KYC data stored?
You have announced your partnership with Piixpay. What will be the gains of both companies and the users of these platforms?
3. How do you plan to get past the initial phase, where with nonexistent or very limited credit scores it’s hard for people to trust their capital to someone, and, related, even if KYC is done, is lending and borrowing anonymous/pseudonymous between users?
I like that you have many sections with information on your website. You can basically find everything there. But why not make it simpler? To lend ETH in 2 clicks for example. I searched about this on your website and there are many steps to do and to read. In order to get more adoption, I suggest you try to simplify all these steps. Let us know what do you think
Mr. @Martinikus I saw your post in Which you are saying that ” Let’s get users first, the Binance will come anyhow to us ” Considering this point shouldn’t We expect any listing in upcoming days. Is this overconfidence or confidence??
Currently Smart Credit only serves lending and borrowing for Stablecoins and Ethereum, Will SmartCredit add more assets that can be lend or borrowed in the future? Do you have any plans to collaborate with other projects in the future?
You plan on offering lower collaterals than money markets through fixed income lending. However, in the traditional fixed income markets, lenders have access to a mechanism that enforces rules (law). How will that translate to crypto where everyone is anonymous?
What are the ways for Smart Credit to generate revenue in the long run? What is the progress of business development and what are some of your commercial partnerships?
What is the minimum collateral utilization ratio of the monolithic Smart Credit ? As I read , Smart credit provide the Lowest Collateral Ratio in the industry , Could you explain for me the formula of collateral utilization ratio ? How is it calculated as ?
What holds the non-fluctuation of interest rate? How does the Low provision fund help protect the loan? How do you avoid hacks, bugs on your application, do you allows developers once a while test your apps to avoid glitches?
I have seen from browsing through the site that you are lending money, suppose I borrowed 1 Ethereum, how will you guarantee that I will return it? What measures do you take in order to protect the money?
Borrowers on Maker and Compound face several issues such as limited choice of collateral, high collateral requirements, inability of borrowers to transfer their loans to other parties during the loan term, etc. What’s Smart Credit approach to solving these issues?
How can lending on SmartCredit is better than Compund or AAVE? I mean, how do you compete with that popular lending program, what advantages do SmartCredit serve?
Borrowers can reduce their interest rates and collateral requirements via Crypto Credit Score, what tasks are performed by users in this feature and how is the palform able to lower the interest in a sustainable way?
On Smart acredit platform loans are protected with collateral and Loss Provision Fund. Would you explain how it functions? Where do the assets of this find come from, and what possible loss cases on the platform?
In a survey conducted online, people said they would use a service if the support was super responsive, Now How is your Support when handling issues? How robust are they to provide TRUST, SECURITY, privacy and dedicated services for the end users?
Regarding the borrower’s credit score, are there any special benefits for users based on their credit score? The higher our credit score, what benefits and advantages will we receive?
Inflationary regions are a key region for Smart Credit, as people understand the side effects of the fiat money. What are your strategies to reach those countries with hyperinflation?
Where is the added value of SmartCredit.io? I understand that SmartCredit.io is developing a decentralized global loan market directly without intermediaries
The bond market is 5 to 10 times larger than the global equity market. However, in the cryptocurrency sector, fixed income is 5-10 times lower than in the cryptocurrency equity market. How does the SmartCredit.io income work?
The assurance approach is directly related to the risk management framework. How to achieve a low guarantee ratio knowing that there are several factors that affect?
Personal Fixed-Income-Fund will be your new feature in the next release. What exactly does it and how will I benefit from it
Crypto world has been enlarging and becoming an important part of real world. Crypto has been into several real life sectors. And apparently the locomotive is crypto banking. To attract people, crypto needs to have advantages over real. So what are the advantages of crypto/blockchain banking over traditional banking? On the other hand it has disadvantages such as security, governal regulations which are different all over the world, insufficient exposure, limited liquidity, etc. What solutions does SmartCredit have in order to overcome these? Finally, do your future plans include to cover all banking functionalities?
In the event that the debtor does not comply with its obligations, what actions does Smartcredit take? Once the debtor complies with the full payment of the debt, will they be given the opportunity for a loan again?
A high collateral ratio would benefit the lender because the overcollateralized protects the lender’s loans. How could a borrower have a low collateral ratio? How will you sustain these assets in the event of a fraudulent transaction?
Having fixed maturities would imply a fixed maturity CDP; Borrowers would have to close these CDPs before maturity How do I close fixed maturities? Can the compound use fixed maturities?
Knowing that the user is the one who controls their assets. This is also known as decentralized finance loans. What means does Smartcredit.io use to safeguard these financing loans?
Currently cluster-based projects try to explain that it is open source; there is no central point of control, etc. However, this does not change the gist: you are pooling the assets of retail investors. What about the pooling of assets?
Fixed Income Funds (combinations of loans of different maturities, offering a better Sharpe index) cannot be implemented by combining assets, what is the tool that Smartcredit.io uses since common funds solve this situation by tokenizing peer-to-peer loans?
In real life there are laws which protect banks and people. How about in the crypto world? What happens if a borrower does not pay back when the time is over? Is an extra interest applied? What if he never pays it back, what is the sanction? How do you protect the lender in such a case?
How the PIXPAY integration is going on? is Credit As A Service development integration is developed and ready to test? When community can test v1.1? Is it scalable and flexible? Please explain to us.
How important is the community to you? and how can we collaborate or help you for the development of the project?
What is on the your project team’s agenda in the future, and what are some of the ways you plan to grow the community?
Many new projects initially developed well but were suddenly abandoned. How will you manage your project to get your position on the market and become the best project in the blockchain world?
While fixed income markets outnumber money markets 10:1, do you think it is a possibility that the defi space especially and the crypto in general attract those who take more risks and care less about the stability fixed income brings?
Hi… the SmartCredit widget is obviously an important tool to onboard users to the platform, can you tell us if there are many more websites like CryptoTask and Piixpay that you are already negotiating with for partnerships and how many more would you like to see with the widget in the future?
You mention that within Smarcredit borrowers can reduce their interest rates and collateral requirements through Crypto Credit Score. I would like to know: How is this score calculated, what do they depend on and to what extent can interest rates and collateral requirements be reduced?
A few days ago you published your partnership with CryptoTask. What does this mean for Smart Credit and what do you think the effect of this new partnership will be on the growth of the project? Finally, I would also like to know if you are bringing in any new partners in the coming months.
In your documentation you mention that one of the different characteristics between Smart credit and the other lending platforms in the market is that you offer several guarantee options. Can you explain a little bit about how many options we are talking about? I would also like to know what they depend on… On the term of the loan, the amount of money being lent, or some other variable?
If there is one thing that we users who invest in Blockchain and DeFi are aware of, it is that the word “Constant” or “Fixed” does not exist at all. So I would like to ask you: How do you make the topic of Fixed Interest Loans a reality? How do you achieve it?
I was very impressed by the way you generate passive income with the Personal Fixed income Funds. Can you give me more details about it? What is the minimum amount to invest? What percentage of profit can I make?
Collateral ratios for the Borrowers are much lower in Smart Credit than comparing with other platforms, which features of the platform are responsible of it, and how is this sustainable long term without risking performance?
Borrowers can reduce their interest rates and collateral requirements via the Crypto Credit Score, what tasks are performed by users in this that makes the palform able to lower the interest in a sustainable way?
Smart Credit allows itsusers to Borrow/Lend Stablecoins and Ethereum intheir platform. Only stable coins to USD are avaliable? Do you plan to increase the portfolio of fiat pegged digital currencies?
In the platform of Smart credit the loans are protected with collateral and Loss Provision Fund. Would you explain how it functions? Where do the assets of this find come from, and what possible loss cases on the platform?
I would like to ask about the usability of the Smart Credit platform… For someone who is old school, does not handle much internet, and wishes to invest some capital, would he understand quickly how to lend his money and calculate his earnings on Smart Credit?
Reading your website I came across the phrase “Smart credit strengthens itself” on many occasions. What does this mean? I did not find the reason why you say this.
$DAI and $ETH are the only tokens you use for all transactions within Smart Credit. Why just them?
Fixed Income Funds, Fixed Interest Loans, Fixed Term Loans, everything is fixed… What is the point of having all these as Fixed? How does this help the users? How do you achieve it?
There are some types of scores mentioned in your system. Especially one of them caugt my attention: Borrower Psychometric Score. Why does this scoring matter? What kind of method is used to determine this score? Is having good Psychometric Score a must for benefiting from your services?
Loans are protected with collateral and Loss Provision Fund but, from Where is the income of this fund generated and what are some of the use cases?
How long has SmartCredit been launched and how many loans have been made through the platform?
How are the parameters of a loan determined by SmartCredit? Is the interest rate provided by the lender or determined by the platform?
2,500,000 team tokens are time locked. The earliest tokens will be released 12 months after the pre-sale. AND the lock period MAY BE EXTENDED! Now the question.How many unlocking stages will there be and after what periods of time and what amounts? And most importantly! If the blocking period can be extended, then it can be reduced? Please explain this point that is spelled out in your tokenomics
You are announcing in version 1.1 the addition of 10 more crypto available to borrowers and 2 stablecoins. Will this be another set for Ethereum fans or are you planning to go beyond one blockchain?
Is it really legal for them to mention that they use the Swiss bankers’ DeFi loan solution on SmartCredit when this platform is created in the Republic of Estonia? or are they really associated or a part of the profits go to that financial system?
What is the characteristic of centralized Swiss banks (apart from zero regulation) that is implemented in SmartCredit? is it fully adapted or are there many changes to be made in conventional algorithms? And what benefit does the SmartCredit management team’s experience in traditional Swiss banks bring you?
Lately SmartCredit has achieved great associations, many of them in order that more users know about the projects and be adopted, but will they really seek to establish only a cryptocurrency loan system? Or is this just the beginning to later create a great cryptocurrency ecosystem?
actually on their website they mention that there are many alternatives that can achieve great scalability in DeFi, but really which of those alternatives are used by SmartCredit? I understand that they will use the Fiat as a bridge to achieve greater integration, but is that alone enough? Could you give us more detail?
is it really possible for lenders to have a higher% interest rate when borrowers have very low rates and no fluctuations? How is it possible to achieve stability in rates when they are part of the ETH chain that is totally dependent on congestion?
I understand that SmartCredit will manage to absorb the regulation avoiding the pooling of assets, using only peer to peer, right? but this does not limit the token changes? or thanks to this they will be able to use multiple applications impossible to use in blockchain?
In all the time I have known about DeFi I have learned that the most reliable and beneficial thing for society is that everything is developed under Blockchain, but it really is not so? With SmartCredit, can you get more benefits and have the same transparency as with the Blockchain? How is it possible?
Can you name the killer features of Smartcredit that make it ahead of the competition? What is your most confident competitive advantage in the platform?
As you know Covid-19 has a large impact in the crypto Market, So How can your company maintain its project and also the team that are working hard during this pandemic?
how so that we can transact on the SMART CREDIT platform, must we verify personal data (KYC) so that we can start transacting on your platform, what about your smart contract, have you audited it so we are sure that our assets are safe and there will be no bugs or other problems ?
Right now most people still use Visa as their payment. So how Smart Credit can change this perspective to make them change from Visa to use your product or Defi Credit Card?
Did you have any marketing strategy to manage this problem?
SMART CREDIT is listed on Uniswap, How much liquidity has been added there? And is this iquidity is going to be locked on uniswap? Then what are the plans on listing SMART CREDIT on exchanges in future?
What is “Crypto Credit Score”? You have mentioned that Crypto Credit Score is optional and borrowers can reduce their interest rates by this. It means that this is going to be special for borrowers, Could you please explain how to participate and reduce the interest rate by Crypto Credit Score?
You have mentioned that “Loans are protected with collateral and Loss Provision Fund” , What is this Loss Provision Fund? How will it protect loans?
Do you have any plans on launching a mobile App for SMART CREDIT? If yes, How can I borrow a loan from the mobile app? Do I have to provide KYC or is there any another method to register your lending platform and how are you going to ensure that loan borrower will not escaping from paying interest?
We can see many P2P platforms recently even in binance also. What are the key features on your P2P platform when comparing to other P2P platforms? You have mentioned in your whitepaper that “It is peer to peer without intermediaries or “middlemen” ”. What is meant by this and which advantages will be given for users by this?
You have mentioned that “Lenders and Merchants will receive Credit-Coins that represent borrowers’ or buyers obligations”. What is this Credit coin and where can I use this Credit coins? Is it a another crypto currency or a NFT ?
According to your white paper “Peer-to-peer lending facilities are growing at a rate of 52% (CAGR) and the market is expected to reach USD 460 billion in 2022” Is this the main reason for launching a P2P platform for SMART CREDIT? And also in 2022 what amount will be achieved by your platform according to your vision and plans?
Can you ensure that your platform Is not having any Regulatory issues? How can you ensure this? Is there any audit or a document that you can provide to ensure that there are no regulatory issues with your platform? Because we can see many custodial lending providers has regulatory issues.
Do you have any insurance on your platform to ensure the security of users funds? If yes please explain it. And if there is a another way of providing security to funds, explain. How can we trust your platform that there will not be a security issue such as hacking? Because we can see many issues with security on lending platforms recently
As I understand it, I have to transfer my tokens as collateral to an escrow account according to the calculations when applying for a loan, even without having received loan approval?
Do I set the term for consideration of my application myself or do you offer any options? And where are the guarantees that the system will consider my application on time, if there is a large number of applications?
On your telegram it said Smart Credit is building the “fixed-income-funds” system, which no other person is doing this in the DEFI sector and absolutely new in DEFI. So can you please explain how is this system fixed-income-funds work in real case?
The borrower’s financial rating is calculated based on their ETH address. The social core of the borrower is calculated based on the borrower’s LinkedIn and FaceBook profiles. Are profiles on other social networks also checked?
And if I do not have a profile in those social networks that you are analyzing, and if I have not yet made any transactions? Here I am a new user in the cryptocurrency world and became interested in the possibility of lending from you. How in this case can I prove that I am solvent? Or do you, without receiving any data about me, automatically refuse me?
I want to ask about coding V1.1 that Smart Credit have, you said testing will be done at december , when is the time to testing begin and do we as community can also participate in your testing program? Is all still on schedule?
What are the factors that determine interest rates and collateral requirements, Can borrowers subsequently increase their credit scores to reduce these rates?
I registered in your application and immediately had questions, let’s talk about your application!
In the application for a loan, the application gave me the maximum possible loan amount of 7.695030549271281 ETH. Why not 7 ETH or 10 ETH at all? Why such a sum, what does it depend on?
Why do I need a referral link in my mobile app profile? Do you have any kind of referral program?
How do you combine multiple credit risk management elements in collateral and what criteria do you take into account in achieving a small margin rate for users?
How will you compete with SmartCredit competitors and differentiate from other projects that provide lending, borrowing, fixed income funds and integrations?
In the legal agreements you follow, when the borrower fails to fulfill its obligations, how does the NPL Non-Performing Loan process work and in which cases does it sell to debt collection institutions?
What exactly is SmartCredit’s alternative regulatory safe approach principle and what is the advantage of creating multiple pools for each lender instead of creating a single pool?
It has been almost a month since you started collecting suggestions for improving SmartCredit from users to your mailing address. How did the community react? There were many good ideas? You promised to vote every 2 weeks for the best proposal and implement what voted for. Tell us which the idea was most liked by the community and whether it will be implemented.
Smartcredit.io only support ETH and ERC20 tokens for now. May I ask what are the tokens that can be use as a collateral and can be lend? Is there a site where we can check the information and list of these tokens?
In SmartCredit coverage
How are the loans protected by the collateral and loss allowance fund and how does this fund allow the lender to use the tokenized loans as a means of payment?
Can you please explain how will SmartCredit.io established or rate their clients Crypto Credit Score and how can users monetize their data with the help of your platform.?
The SmartCredit.io are offering a low collateral ratio for borrowers. For a lender, why would they go and use your platform to lend their assets when other DeFi platforms offers more security ( in the form of high collateral ) and maybe more profit on their assets?
The mobile version is a joke and basically it’s impossible to use. When do you plan to finish the design and development of a fully operational mobile version? In our days this can make or break the ux of a project
This is how the onboarding process looks like: https://i.imgur.com/jnme54G.png
Inspired by “Swiss Bankers” in your short description, I made a tiny research as you imply this. There it seems a news that Swiss Bankers Association wants to help blockchain firms do business dated to February 14th 2020. The news implies that more than 800 companies use blockchain and cryptocurrency in Switzerland, according to a report by Crypto Valley Venture Capital. This must be a huge experience. Could you tell us if you got any such clues and insights in Swiss ecosystem?
Many blockchain / crypto initiatives put their partners’ logo below and even with blank colour. That’s very nice that you feel pride that you put all in easily seen place in website. You are backed by different partners which also have other blockchain investments in the ecosystem. But mainly most of them are aggregatos. Just AE Ventures took me attention as they are VC. What is your partnership collaboration research in the ecosystem at the moment?
I watched “How to Disintermediate the banks ” presentation from an event namely Crypto Fin Conference 2019. You begin with “my hobby is credit systems triggered by Lehmann crisis in 2008”. How Lehmann crisis do you think enabled us to see a crypto-based world? Also, If you could have a new presentation today affected by COVID and benefited somehow via crypto experience, how would you say that what your hobby is now?
Swiss bankers have different experience in the world obviously as a “safebox” in the world economic system. The country itself is not a triggering, operating economy but benefiting those financial advantages. Do you really believe working as a Switzerland based financial professional contribute a lot to solving lending issues in the crypto-based world?
You mention rebase / elastic based tokens in your presentation “how to disintermediate bankw” from the event in 2019. Motives of SmartCredit gives me feeling that you may focus on
that area more. Do you have such plans on this regard?
As a Turkish person, I am glad to see Basak Burcu Yiğit on the team. She is member of Istanbul Blockchain Women which is very active group in the Turkish ecosystem. Any special plan for MENA Regions where banking systems are more affectively used and cryptocurrency is hype?
How “smart” is your platform? What messages or insights did you collaborate via the platform and behaviours of the people on lending? It’d better us to see a report by Smart Credit on the issue exactly
There are not many non-custodial projects in the ecosystem. I know Prospher, PlotX and MarsDefi on this regard. What is your differentation from the anyone which might be close to your model?
I didn’t get exactly how smart your platform is actually. I love marketing titles in brand names and you seems exact experience as the team points out. Does the platform benefit from machine learning or social media sharings to learn the content and develop the decision-making techniques?
The risks related to lending platform is the smart contract risk . So has the smart contract been audited? Is there any safety mechanism to prevent overminting (to prevent any foul play/hacks)? How does SmartCredit apply for a witness node or deploy/manage a smart contract ?
What is the team’s orientation and development plan for 2020 in the Defi region, why do you think Defi, this immature term, has a future? What results do you expect to achieve?
Currently SmartCredit only serves lending and borrowing for Stablecoins and Ethereum, Will SmartCredit add more assets that can be lend or borrowed in the future? Do you have any plans to collaborate with other projects in the future?
What are the different parts of SmartCredit.io and what is the credit system like and how is it Smart?
Hi there , most of Swiss bankers always faced with BIG PROBLEM that is Money Laundering/Bad Money, but when combine it with the Decentralized, Anonymous world like Crypto, it’s even harder for many Bankers to Fight with Money Laundering problems ! So how will Smart Credit prevent that problem and the regulation/law from the government of Switzerland in order to accept using Crypto?
In the Lending/Loans fields of DeFi, I most concerned about the SECURITY problems ! Because I saw that even in many BIG PROJECTS, Lending/Loans fields always a “GOOD MEAL” for many HACKERS,Like AKROPOLIS last month , 2 Mil has been STOLEN by HACKER, or even like Harvest Finance, 24 Mil from Lending has been HACKED because of the bug on the smart contracts! So how will you solve this problem?
What is involved in V1.1 and V1.2 of the app release, in terms of components added such as staking, loans and potential token release?
Privacy and confidentiality of information and user property are important issues, so what solutions do #Smart credit have about that and how to compete with other platforms?What are the specific differences?
With the development of blockchain technology, an infinite number of blockchain projects have appeared on the market. But people prefer / will accept platforms that have real value..Can you tell us about real-world use of #Smart credit token and your exchange or solutions that contribute to this?
How do you protect from flash loan attacks?