Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Decredit and our guests was @Bkdecredit. The AMA took place on 20 September
The AMA session was divided into 3 parts with a total crypto reward pool of 500$
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram community
BK: Hello, guys
Mary | Satoshi Club: Hello Satoshi Club! We are happy to announce our AMA session with Decredit! Welcome to Satoshi Club😀
D. | Satoshi Club: today our guest – @Bkdecredit ! 🚀
Mary | Satoshi Club: Welcome here 😀
BK: Hi, guys nice to see you~ my name is BK, I’m responsible for all marketing operations of Decredit.
D. | Satoshi Club: awesome! 😊 welcome to Satoshi club! 🙃
Mary | Satoshi Club: BK, we are happy to e-meet you 👍
Let’s start our AMA 🚀
BK: of course. let’s get it start!
Mary | Satoshi Club: And we will start it with intro😀
D. | Satoshi Club: please tell us a bit about yourself and project you represent 😊
BK: 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.
Mary | Satoshi Club: We would also like to know the main goals of Decredit project and problems which you aim to solve😀
BK: Sure. We hope to reduce pledges in Defi by introducing credit models. And we have opened the credit related module in the test network.
D. | Satoshi Club: sounds interesting, can you share more info about your team? who’s working at the project?
Mary | Satoshi Club: Is your model absolutely new? Or you borrowed it somewhere and improve 😀
BK: Our team has rich experience in Blockchain and Crypto industry. Team members are from well-known blockchain teams and medias. Core dev has more than 15 years software and blockchain development experience. BD director is from a mainstream blockchain media.
D. | Satoshi Club: 👍 team is not public? you all prefer to stay anonymous?
BK: Our model was developed by ourselves. Because we have many years of experience in the traditional finance industry and the credit industry, we introduced the traditional credit model to the Defi area.
Mary | Satoshi Club: Awesome 😀
BK: Some of our core strategic partners and key investors know our core team members. It should be said that the identities of team members are not completely anonymous.
Mary | Satoshi Club: Thank you BK for great intro! It seems it’s time to dive deeper into the details of Decredit project with the questions from our community 😀
Do you want to add something or we can start?🚀
BK: Thank you teams! For sure, let’s take the questions from the community!
Q1 from Telegram user @igervacio
In one of your most recent releases an R-IDO with DuckDAO is planned, I don’t know much about DuckDAO and it makes me curious that it is not a simple IDO but an R-IDO, I don’t know if I’m the one who is not very informed about it terminology, what does D-Credit refer to by launching an R-IDO? Does this contain any additional services compared to a conventional IDO? Why did your platform choose DuckDAO to perform an R-IDO?
BK: Actually, we hold IDO on DuckSTARTER platform. Let me first explain the difference between DuckDAO and DuckSTARTER.
Mary | Satoshi Club: Sure 😃
BK: DuckDAO is a decentralized incubator that helps promising projects achieve their full potential by leveraging the investment power and buzz making potential of DuckDAO’s community.
DuckSTARTER is DuckDAO’s public token launchpad, a service platform for blockchain projects.
It will act as the final bridge between early-stage projects and the community before the project goes fully public.
BK: R-IDO means refundable IDO. It is the latest DuckDAO innovation, a new risk-free way for the active IDO investors to gain temporary exposure to a new asset and observe its performance on the market while being able to get their capital investment back within the first 24 hours of the token’s public DEX listing.
Refundable IDOs make the refund option available for the first 24 hours instantly via the smart contract, no questions asked.
Mary | Satoshi Club: When do you plan your R-IDO?
BK: DeCredit chose to cooperate with DuckSTARTER on R-IDO for two reasons.
First of all, DuckSTARTER is one of the top 5 IDO platforms in the world, with a great reputation and user base. Working with them also proves that DeCredit is a program of real strength.
Secondly, we value early investors and we are also very confident in our projects. The strong community user consensus and core technical team makes us confident that we will perform well after Listing. Thers is nothing to be worried.
Our whitelist campaign has begun. IDO will be available on September 22.
Mary | Satoshi Club: Very soon! Satoshiclubbers, you have good chances to participate 😃
D. | Satoshi Club: yeah, DuckSTARTER has a solid reputation 👌
Mary | Satoshi Club: We wish you success with upcoming R-IDO 🚀🚀🚀
Q2 from Telegram User @cleotilde1
I have seen that many platforms have put a huge effort into establishing the tesnet, you announced that you would launch your tesnet for mobile devices, not all of us know how to perform these installation steps correctly, What steps should a common user take to implement the tesnet in a mobile device and what benefits will this launch bring for the development of your DeCredit ecosystem?
BK: Many users in our community are also new to Defi applications. To help these users, we have prepared very detailed text and video tutorials. Through these tutorials, anyone can learn to use our testnet.
If users have any questions in the process of using testnet, Please join our tg group, there are administrators in the community will answer the relevant questions.
Mary | Satoshi Club: Everyone can participate in thus Testnet? Are there any restrictions?
BK: The launch of testnet will bring more vitality to our community. With the continuous improvement of our products, our ecological development will be stronger.
D. | Satoshi Club: if you testing your network on mobile devices that’s mean your app behind the corner😉
BK: Everyone can participate in the testnet activities, there are no restrictions. We care about every user’s experience and feedback.
Mary | Satoshi Club: Great 👏
Thank you for your answers! Ready to go to the next question?🚀
BK: Woo. Let’s see! Be patient, everyone.
Q3 from Telegram user @bigboicity12
Learning about the project, I saw that DeCredit will provide a decentralized multi-asset storage pool called Mpool. What major currencies will be supported when Mpool is launched and how will users deposit assets into it? How will Mpool’s lending and risk management process be directed or managed? Smart contracts are prone to errors and even recently three major DeFi projects have fallen victim to this, costing users money. What is the main reason that makes Mpool really safe for users? What will you offer to Mpool people to earn their trust and how will that set you apart from other projects?
BK: We currently support 5 crypto assets: BNB, USDT, ETH, BTCB and BUSD. Of course we will support more crypto currencies in the near future.
Users can directly experience the testnet learn more details.
In terms of risk management, our core team has many years of experience in finance and lending, with key members from the world’s leading financial groups. So DeCredit has its own risk control model, core algorithm, and we bring experience from traditional financial banks into the crypto asset world.
D. | Satoshi Club: btw what was the motivation to choose BSC as your main network?
BK: Last but not least, We have already passed the audit on knownsec, and our technical director have wealth experience on code as we will keep developing our product , so please don’t worry, the version you will used decredit landing is passing audit.
very nice 👍
BSC is a reliable network system, and we have a very good communication channel with it, and hope to start further cooperation in the near future.
Mary | Satoshi Club: Yes, that’s interesting question 😃 and i want to know if BSC will be the only one blockchain which you will support?
BK: We are actively engaged in various aspects of communication. In the near future we will deploy on other blockchains and bring better experience to users.
Q4 from Telegram user @mm_carlos
We all know that NFTs are a popular product nowadays and you were recently working on a product called “NFT module”, there is not much more information about this module, what will be the function of this module to generate income for DeCredit in the NFT market ? In what phase of development is this module and what associations have you considered essential to obtain popularity in the NFT market?
D. | Satoshi Club: NFTs !
BK: Our NFT module is in the preliminary development stage. For the smooth development of this module, we brought in the industry’s leading NFT experts to help us. Currently, please allow us to remain a little mysterious. At this stage, we won’t sharing details. For sure, the module’s design is an unprecedented innovation that will usher in a new era in the field, so stay tuned to our social media for updates.
D. | Satoshi Club: we can keep secrets 🤣
Mary | Satoshi Club: I see you prepared a lot of surprises for your users😃
They will never be bored
Satoshiclubbers, follow @DeCreditenglish for more updates👍
Q5 from Telegram user @victorogb
The platform token of DeCredit, CDTC is said to function as a governace token giving certain rights and privileges to holders. Can you let us in on some of the privileges and governance rights available to CDTC token holders, and will DeCredit adopt a weighted system (number of individual tokens held) in applying these governance rights? Also as the total token supply would be 300 million CDTC, with 5% and 12% allocated for airdrop and Community treasuries, can you talk on your planned airdrop events and how will this allocation cover it, and since Community allocations also covers marketing and governance activities, how is it periodically released?
Mary | Satoshi Club: Oh, sweet word airdrop 😃
BK: The governance mechanisms in the CDTC protocol stem from the interplay of community participation, incentives, self-regulation and policy management, all of which are adapted to suit the needs of the market and to survive with it. Therefore, we emphasise community participation and the fact that every major decision is made through shared community governance such as voting.
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
Product rule improvements
Rating score rule changes
Rating level adjustments
Please check out our white paper for more information
For airdrops, we will reward users CDTC through this testnet activity.
Follow us on Twitter to know more information:
Mary | Satoshi Club: Nice rewards! 🤑
D. | Satoshi Club: nice! what a motivation to participate in testnet now, right Satoshi club? 😉 you can get a tokens as a reward
take this chance everyone 😊
Mary | Satoshi Club: how many tokens should user have to participate in governance?
BK: Our team wants to get more community members involved in governance, but it also depends on what happens when the mainnet goes live.
D. | Satoshi Club: then let’s wait and see 😉
Mary | Satoshi Club: Gotcha 😃
Q6 from Telegram user @Asela1112
In first half of 2022, DeCredit will launch a decentralized oracle in the aim of building a privacy solution & run DeCredit scoring algorithm in a trustable environment. Can you give us a sneak peak about the decentralized oracle? Will it helps to relay information of DeCredit functionalities from off chain sources to on chain network securely? Before you integrate this feature in to DeCredit ecosystem, Will you test it’s condition or will you make a audit for this?
BK: Yes, with Oracle, we bring real-world credits to the chain.We are a credit loan company with 200k+ user base.
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 liqudity.
In fact, we have been doing relevant research in the traditional financial credit field for many years and have reliable models and experience. Now users can experience our credit module through the test network.
We will launch Oracle modules in the future after fully testing and auditing.
Mary | Satoshi Club: Can you explain who and how can get Decredit credit score ? In simple words 😃
On our testnet, users can click the Credit button after pledging CDTC. Then answer a series of questions on the page, fill in the relevant information and submit. Our credit algorithm will give the user credit rating, according to the different rating users will be able to obtain more credit lines.
Please go and experience
Mary | Satoshi Club: I will definitely try this👍
BK:thank you for this first part😃
Part 2 — live questions from the Telegram community
Q1 from telegram username @Xusuo
DeCredit looks really solid and great project, so i want to know more about the presale and publicsale from DeCredit, how can i participate ?
BK: Our IDO whitelist is in progress, and I believe that users who participate now still have the opportunity to obtain our CDTC. Please check out the following link to participate:
Q2 from telegram username @Gen_Block
Does DeCredit has regional community at the moments? Or does it still global community? Do you plan to expand and put ambassadors in each prospective countries?
BK: We currently support The English community, and in the near future, we will open Korean, Chinese, Indonesian and other communities.
We are also working on our global Ambassador program, which will soon be open for global ambassador recruitment. Please follow our social media to participate.
Q3 from telegram username @sophiejohnson1
What is the ultimate goal of the DeCredit project? Is the target audience corporations or personal investors? I read that you are targeting China, Japan, Korea, USA. Not a global project?
BK: Our ultimate goal is to apply the credit model globally, which means that on a global scale, users can get loans without having to pledge any assets.
In the process of launching the project, we also met partners from various fields, including Litentry, Labs and Crust, the reason they were eager to work with us is that credit is not just Defi.
The Defi market in Asia is very vibrant, but we want to focus on the world.
Q4 from telegram username @MdLuffyo
How will your platform reconcile the real estate industry with the use of NFT for RWA? How do LendCo and trusted groups work with each other, can you give information about the system?
BK: As the DeCredit protocol evolves and more collateral enters the DeCredit deposit portfolio, we will introduce RWA, “real world assets” (specifically, credit quality backed collateral) designed to override DeFi investments in traditional assets.
DeCredit introduced NFT to this real estate RWA. Trusted Group is a Trusted organization with real estate management and financing credit resources, such as real estate credit companies and real estate finance companies. DeCredit provides stable pools to work with these Trusted groups.
Trusted Group mints its housing assets to NFT and deposits them in DeCredit’s pledge pool.
Q5 from telegram username @taemin_vj
What would be Decredit main goal for 2022? What is the best thing you have achieved so far? And on a personal matter, what does Decredit want to achieve in the Crypto ecosystem and what are you doing to make it?
BK: 1 st 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.
2 nd Half 2022
We will offer each of our user a distributed ID and count his on-chain credit data into DeCredit Oracle1 s rating as well.
Q6 from telegram username @Tehokjambe
From some of the problems I found in other projects, a lot of delays in transactions. So, how about your project? Will users be more satisfied with your transaction system and there will be no delays in transactions?
BK: So far, we have received no complaints from users about delays. This is also due to the strong technical support of our R&D team, and our world-leading technical capabilities.
Q7 from telegram username @Karry1999
In your Website I found that Decredit is partnered with LABS group , Can you tell us why you choose for partnership with LABS as it is real state investment firm , How does this partership benifits both the firm ?
BK: LABS Group is the world’s first end-to-end blockchain-driven real estate investment ecosystem
They want everyone to be able to invest in real estate
To do so, they need to address several core pain points of real estate investment, namely insufficient liquidity, high participation costs and difficulty in cross-border investment.
Because they want to be able to allow users to pledge their real estate tokens and then borrow from them
So that users can reinvest and leverage
Therefore, the mortgage platform is the best solution to the financial leverage of real estate assets. So, with this need, we entered into a partnership.
Q8 from telegram username @Rinhere
Will I have the Powers to govern the Decredit system?
Please talk about your Governance?
BK: Our credit score uses different algorithmic models depending on the country in which the user lives. Users who score will enjoy a higher credit limit on our platform. As we work with other projects, this will eventually allow users to earn multiple privileges in the crypto world on their own credit.
Q9 from telegram username @Sarika_4088
✨Recently, your project had so many collaboration .🤝 can you name some of them and what does these cooperation affect your protocol ?
BK: Yes, so far we have officially announced partnerships with Litentry, Crust, Labs and Weblock.
For example: We will partner with Litentry, a decentralized identity aggregator that connects user identities across multiple networks to leverage the potential of decentralized credit in loan transformation.
Here’s our link to the official Litentry announcement:
Q10 from telegram username @Gemshunter22
Can you tell us more about your Testnet and airdrop? What are the rules and how can I join it?
BK: We’ve been very generous with this airdrop testnet campaign. 2,200 users will receive 50,000 CDTC.
Users only need to complete some specific tasks, such as experiencing our testnet, joining our TG group, following our Twitter, etc.
Here are the details:
Part 3 – Quiz Results
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.
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