AMA Recap: Mega Ventures x DeCredit
Host: Hello Jennifer, Welcome to Mega Ventures Community
Jennifer: Hey, guys. glad to meet you
Host: Let’s start the AMA session, Are you ready?
Jennifer: Let’s get started!
First Segment: Introduction
Host: 1: First of all please introduce yourself, and share some information about your team?
Jennifer: Sure. This is Jennifer, COO of Decredit.
I’m in charge of marketing and operations for DeCredit. Not just AMA, but also developing a marketing strategy based on our product features, negotiating with influencers, and increasing DeCredit’s reputation in the industry. But my favorite part is the AMA, which gives me a chance to communicate closely with friends in the crypto-community and learn your opinions.
DeCredit team members have years of experience in credit algorithms, big data risk control, and others have a deep understanding of smart contracts and oracle, which is also the basis of our standing in the industry.
Team members are from well-known blockchain teams and media. Core dev has more than 15 years of software and blockchain development experience. BD director is from mainstream blockchain media. Our founding team operates a credit loan company with a 200k+ user base!
Host: 2: Can you please provide detailed information about the “Decredit” project and How long you’ve been building this?
Jennifer: DeCredit embraces Web3.0 by implementing credit oracle.
Blockchain security comes with some limitations. Blockchain is a deterministic, closed system environment, isolated from other sources of information. Blockchain can only capture data on the chain, which is disconnected from the real world.
DeCredit creates a world-leading credit oracle. Cooperating globally with authorized credit data nodes will realize the integration of on-chain and off-chain credit data. We also continue to explore the implications of credit oracle for other Dapps, including Defi and Gamefi.
By introducing encryption algorithms and credit oracle mechanisms, credit oracles are established to empower the DeFi market. We optimize the allocation of resources to provide liquidity support to a wider range of entities and individuals with the goal of reducing collateral.
DeCredit team members have years of experience in credit algorithms, big data risk control, and others have a deep understanding of smart contracts and oracle, which is also the basis of our standing in the industry.
Team members are from well-known blockchain teams and media. Core dev has more than 15 years of software and blockchain development experience. BD director is from a mainstream blockchain media. Our founding team operates a credit loan company with 200k+ user base!
Host: 3: Can you share more details about the $CDTC Token-omics, is there any particular vesting schedule if so can you share more about it?
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, and 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).
Governance rights of holding CDTC include:
l Voting on major matters, including the Credit Loan project
l Addition of new cryptocurrencies or stablecoins
l Adjusting variable interest rates
l Setting fixed interest rates
l Oracle services
l Product rule improvements
l Rating score rule changes
l Rating level adjustments
l Improvements/suggestions
Host: 4: What advantages do you believe you have over other competitors, Can you tell us the motivations and benefits for investors to hold your tokens in the long term?
Jennifer: Our advantages are mainly in these aspects. Firstly, we are the world’s first protocol to build an “on-chain and off-chain” omnichannel lending scenario. Secondly, we are the first project to realize regional level and global level credit oracles. Furthermore, our biggest foundation is that our team has been deeply engaged in the 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.
There are several oracle solution providers in the industry, including Chainlink, Oraclize, Dos Network, and others. But, as far as we know, no other organization is running a credit oracle, which means we have no competition.
Chainlink’s solution is to use smart contracts on the chain and data nodes off the chain to request and send data through reward and punishment mechanisms and aggregation models. Oraclize: A demonstrably honest oracle service that relies on Amazon’s AWS and TLSNotary technology. DOS Network: a Network that provides decentralized oracle services.
Up to now, Credit Oracle is still a blank field and DeCredit is an advocate of it. The huge variation in the credit data of citizens in different countries makes it difficult to implement Credit Oracles.
Credit is so important in our modern world, not to mention its function in the traditional credit loan and financial market, it also plays an essential role in the emerging crypto world, like NFT, GameFi, and Metaverse. So we are confident that we can have a bright future in both the product and marketing development side.
Here are 4 reasons to hold CDTC tokens:
1. Long-term holders of CDTC can not only get profits from price increases, but more importantly, long-term holders can also share the profits, which are generated by paying for the use of our Credit Oracle.
2. Holding the CDTC could increase the credit scores so that to increase the mortgage rate
3. Stake CTDC in our platform could earn more CDTC income
4. Stake CDTC could receive airdrop tokens.
DeCredit will evolve with investors, and I believe that with a professional team and advanced ideas and technologies, Decredit can gain investors’ trust.
Host: 5: And lastly, What are the future development plans for the Decredit project?
Jennifer: Decredit is the credit infrastructure of web3.0. Web3.0 is the mainstream that will replace the existing Internet web2.0 in the next two decades. So our first plan is to deploy credit oracle in various Web3.0 application scenarios.
We plan to promote the following events in the next few months.
Firstly DeCredit has completed Mainnet (DeFi) development and has deployed a credit oracle as a pilot. We will continue to iterate on our mainnet, so that users can enjoy better products.
Secondly, by obtaining information from trusted institutions in each country, DeCredit will implement on-chain and off-chain ID authentication for individuals.
Thirdly, DeCredit will build the world’s largest blacklist of on-chain and off-chain co-governance. DeCredit draws on the team’s accumulated credit data from years in the credit investigation industry. With the blacklist as the origin, the third-party credit investigation blacklist database under the chain will be integrated.
DeCredit will launch the Global Credit Algorithm Developer Program. The oracle service needs to rely on the credit investigation data of authoritative organizations in various countries and regions, DeCredit is dedicating 10% of its total coins to support the building of oracle service around the world.
For our future, we are looking forward to connecting the individual credit investigation profile and transmits it to the chain, coupled with our initial and long-standing commitment to providing innovative, revolutionary, and decentralized DeFi service for users with financially manageable risks to build a much healthier open finance market.
2nd Segment: Live questions from participants.
Q1: According to the project’s roadmap- what are your most important next priorities?
Jennifer: Roadmap:
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 users a distributed ID and count his on-chain credit data into DeCredit Oracle’s rating as well.
So far, we have finished the Q3 plan, as well as brand update, liquid lending pool, the cooperation with Litentry and Crust, etc.
In the future, DeCredit is committed to expanding and implementing more application scenarios, accelerating the construction of global credit oracles. Traceability mechanism, etc. DeCredit is open source and will provide powerful credit data services for other DeFi projects.
We have made some achievements:
Firstly we completed product development and deployed it on BSC. We conducted testnet events. More than 40,000 users have experienced our testnet.
The Mainnet has been launched.
The new 3 months’ and 6 months’ lockup staking pools have already been launched!
You can enjoy a huge additional CDTC reward. Contact us to participate!
Mainnet: https://app.decredit.io/
Secondly, we have established strong strategic partnerships with others including Litentry, Crust, LABS Group, Parami, Standard Protocol, etc.
Thirdly, we have listed on Hotcoin and BItmart exchange, other exchanges are actively contacting us.
In the future, we will cooperate with more KOLs and projects to promote our projects, also, we will build a better product for our users in the DEFI credit industry.
Last but not least, the Credit Oracle project is already underway and we have contacted trusted institutions in several countries to discuss the product and technical implementation of the Credit Oracle.
We plan to promote the following events in the next few months.
Firstly DeCredit has completed Mainnet (DeFi) development and has deployed a credit oracle as a pilot. We will continue to iterate on our mainnet, so that users can enjoy better products.
Mainnet: https://app.decredit.io/
Manual-How to join the Mainnet:https://youtu.be/uQYAUjiIWPA
Secondly, by obtaining information from trusted institutions in each country, DeCredit will implement on-chain and off-chain ID authentication for individuals.
Thirdly, DeCredit will build the world’s largest blacklist of on-chain and off-chain co-governance.DeCredit draws on the team’s accumulated credit data from years in the credit investigation industry. With the blacklist as the origin, the third-party credit investigation blacklist database under the chain will be integrated.
DeCredit will launch the Global Credit Algorithm Developer Program. The oracle service needs to rely on the credit investigation data of authoritative organizations in various countries and regions, DeCredit is dedicating 10% of its total coins to support the building of oracle service around the world.
For our future, we are looking forward to connecting the individual credit investigation profile and transmits it to the chain, coupled with our initial and long-standing commitment to providing innovative, revolutionary, and decentralized DeFi service for users with financially manageable risks to build a much healthier open finance market.
Q2: Do you have a YouTube channel or a tutorial video that we can learn from? If yes. can you share it with us? How can the COMMUNITY and help in the success of your project?
Jennifer: Yse, we have videos
Youtuobe: https://youtu.be/uQYAUjiIWPA
You can join tg group and follow social media to get updated info:
Mainnet: https://app.decredit.io/
Medium：https://decredit.medium.com/
Telegram: https://t.me/DeCreditenglish
Twitter: https://twitter.com/decredit001
Website: https://decredit.io
Q3: “Many blockchain projects are just on paper and have no real meaning. What practical product is your project using? What plans do you have for a better product in the future?
Jennifer: DeCredit’s core feature is Credit Oracle.
DeCredit is the inventor and advocator of Credit Oracle, which makes us stand out from the competitors. No matter for C — end or B — end users, credit is indispensable.
To C, DeCredit could lower the collateral and raise the liquidity and fund utilization. And in other scenarios, credit could be used to simplify the process or decrease the cost.
To B, DeCredit would make the products more attractive without paying an additional cost.
There are several oracle solution providers in the industry, including Chainlink, Oraclize, Dos Network, and others.
But, as far as we know, no other organization is running a credit oracle, which means we have no competition.
Chainlink’s solution is to use smart contracts on the chain and data nodes off the chain to request and send data through reward and punishment mechanisms and aggregation models. Oraclize: A demonstrably honest oracle service that relies on Amazon’s AWS and TLSNotary technology. DOS Network: a Network that provides decentralized oracle services.
Up to now, Credit Oracle is still a blank field and DeCredit is an advocate of it. The huge variation in the credit data of citizens in different countries makes it difficult to implement Credit Oracles.
However, some of the DeCredit team members have years of experience in credit algorithms, big data risk control and others have a deep understanding of smart contracts and oracle, which is also the basis of our standing in the industry.
Our advantages are mainly in these aspects. Firstly, we are the world’s first protocol to build an “on-chain and off-chain” omnichannel lending scenario. Secondly, we are the first project to realize regional level and global level credit oracle. Furthermore, our biggest foundation is that our team has been deeply engaged in the 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.
Q4: Your project name seems to be very interesting. Does it have any story behind it? Can you share us with the inspiration for approaching this name?
Jennifer: DeCredit=Decentralization+Credit
We are the world’s first protocol to build an “on-chain and off-chain” omnichannel lending scenario. We are the first project to realize regional level and global level credit oracles. Furthermore, our biggest foundation is that our team has been deeply engaged in the 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.
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.
Q5: Until what corner of the world do you plan to arrive? that is, to what extent in the world do you think your Project will be solving people’s problems with their infrastructure?
Jennifer: DeCredit supports both collateral loan and credit loan models.
The collateral loan model is suitable for scenarios such as crypto leverage and its protocol is somewhat like AAVE, where depositors provide liquidity and earn interest income by depositing cryptocurrencies into a liquidity pool.
Meanwhile, in the same liquidity pool, lenders can borrow cryptocurrencies by injecting, staking, and paying some interest fees.
The risk management of the stake lending model includes Loan-To-Value (LTV), H(f) health factors, and liquidation mechanism
Last but not least, the DeCredit risk management mechanism is all driven by decentralized algorithms.
The credit loan model is applicable to a wider range of loan scenarios, such as project-specific funding loans, credit consumption loans, etc.
The protocol is based on a liquidity pool, which is dedicated to decentralized credit assessment relying on user profiles provided by trusted institutions, combined with peer-to-peer aggregation and liquidity pool management for in
Host: Thank you so much Jennifer for the very detailed answers!
I would recommend to our community please join Decredit social media channels for more updates
Twitter: https://twitter.com/DeCredit001
Chat: https://t.me/DeCreditenglish
Channel: https://t.me/DeCreditNews
Medium: https://medium.com/@DeCredit
Whitepaper: https://drive.google.com/file/d/1z5lpUpQlZtetF6ydBtBqvw0n_jDbwmkv/view?usp=drivesdk
