Recap — Bitcoin&Altcoin Türkiye AMA Session with DeCredit

On 11th of July, 2021, in our community Bitcoin&Altcoin Türkiye TG Group we held a live AMA session with Catherine from DeCredit (https://decredit.io) Team. Catherine is CMO of the project and answered all of our questions and helped us to get our answers.

AMA session started with greetings and introducing our guest to the community. On the second part, Bitcoin&Altcoin Türkiye asked their questions to Catherine and got perfect answers. On the last part, we gave 5 mins to our community to ask their questions and opened live chat for a 5 mins. During this period Catherine get more than 200 questions from community and answered 8 questions from community.

Q&A Session 1 — Questions From Bitcoin&Altcoin Türkiye

Q1: Okay, here is the first question, can you please introduce yourself and your project to us?

A1: OK, I am Catherine, and I’m the CMO of the DeCredit project. Now let me introduce the DeCredit.

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 collateralized 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.

Q2: We mostly know about DeFi, but what is DeFi 2.0 and what’s the differences?

A2: Compared with DeFi1.0, the DeFi2.0 ecosystem should have the following advantages:

1. Advocating the close connection between users, it is committed to breaking the cold transaction mode of DeFi1.0, hoping that users can establish close horizontal connections while forming strong vertical links.
2. Let the entire ecology explode with more vitality and driving force, so as to always keep the liquid mining pools sufficiently active to participate.
3. The ecological governance and decision-making rights are given to community members. All decisions are made by all members. Community members do not simply rely on enthusiasm and interest to participate in community activities. All members are stakeholders and communities, so that all members have a source of participation and truly realize decentralized governance.
4. Only provide decentralized financial services. Numerous decentralized financial innovations will be born here, which will attract global geeks to complete technological innovation ideas here, and burst out more high-quality financial projects. Innovations in any narrow field will have unlimited imagination.

Q3: Will it be used for governance purposes and any rights for holding CDTC tokens? What is the utility of the native token $CDTC?

A3: YES, CDTC is the governance token on DeCredit and holding CDTC means the rights to govern the DeCredit system.

CDTC has value in the Decredit ecosystem. Additionally, CDTC plays an important role in Decredit’s application scenarios and ecosystem, and we’re all going to give it more power in our ecosystem, holding CDTC will become increasingly important.

Of course, it will also be used for governance purposes. CDTC’s governance rights such as: Voting on major matters like DeCrdit loan project; adjusting variable interest rates; rating score rule changes; rating level adjustments; improvement/suggestions. Similar rights will be added to token governance.

Q4: Could you please provide some info about your future plan and how is progressing so far?

A4: For our future, we are looking forward to build DeFi protocal 2.0 via our credit lending and multi-chain layer2 extention solutions, coupled by our initial and long-standing commitment to provide innovative, revolutionary and decentralized DeFi sevice for users with finacially manageable risks to build a much healthier open finance market.

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.

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.

So far, we have finished the Q3 plan, as well as brand update, liquid lending pool, the cooperation with Litentry and Crust, etc. We will work harder to get the project better, let’s stay tuned!

Q5: You also have a Labs Group, what’s the role of this team in your project?

A5: It’s our pleasure to build the partnership with LABS as Labs will adopt our unique credit system to provide the better choice for the users.

Also, with our mortgage loan products, it gives more support for assets liquidity of users and import the traffic for both sides.

Furthermore, we will post the LABS NFT mortgage lending pool SAAS model, which will be used margin and lending. We believe that it will not only be successful in DeFi market but also in the blockchain industry.

Q&A Session 2 — Questions From Community

Q1: Hello sir, Ambassadors play a very important role in every project Do you have an ambassador program? If yes, How can I be one?

A1: Ambassadors are certainly very important, but due to we are still in an early stage, the plan maybe come out later in the near future. You can follow our official Twitter so get more information:https://twitter.com/DeCredit001

Q2: Currently, NFT is very hot, do you think you will apply NFT technology to your products in the future?

A2: Yes, with the development of DeCredit protocol and more collaterals into DeCredit deposit portfolio, we will introduce RWA,” real world assets” (especially collaterals backed by credit quality support), aiming to cover DeFi investments in traditional assets.

DeCredit introduces NFT into this real estate RWA. Trusted Group is a credible organization with real estate management and financing credit resources, such as real estate credit companies, real estate financing companies. DeCredit provides stable pools to cooperate with these trusted groups.

Q3: “ Token burn “ helps to maintain the value of the token, does $CDTC offer “ token burn “ ?

A3: 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.

Q4: What are your goals for the end of 2021?

A4: 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)

Q5: It’s easy to make a token but it’s really hard to make this token valuable? So what’s your startegy to make your token more valuable and what’s your plan to maintain token price and supply?

A5: CDTC is the governance token on DeCredit and holding CDTC means the rights to govern the DeCredit system. CDTC’s governance rights such as: Voting on major matters like DeCredit loan project; adjusting variable interest rates; rating score rule changes; rating level adjustments; improvement/suggestions. Similar rights will be added to token governance.

CDTC has value in the Decredit ecosystem. Additionally, CDTC plays an important role in Decredit’s application scenarios and ecosystem, and we’re all going to give it more power in our ecosystem, holding CDTC will become increasingly important.

Q6: What kind of work do you have in communities that do not speak English? Do you have a community in Turkey?

A6: Currently, we will hold more Q&A events like AMA in those Non-English communities, that’s why I came here😆.

And unfortunately, we don’t have a Turkey community so far, but with our expansion, we will build more communities in more countries, so let’s stay tuned!

Q7: What are the competitive advantages of your project? What advantages do you have over competitors? What would be your project secure most similar contender in the market today in terms of scalability, security, features, and adaptability?

A7: Our advantages are mainly in these aspects. Firstly we are the world first protocol to build “on-chain and offchain “ omni-channel lending scenario, secondly we are the first project realized regional level and global level credit oracle. Furthermore, and it’s our biggeest foundation is that our team has deeply engaged in credit investigation market for many years and has rich industry resources in credit investigation protocol, big data credit investigation, industrial fund, data risk control, etc.

Q8: Kindly explain more about $CDCT Tokenomics, Release Schedule and UTILITY, is it inflationary or deflationary?

A8:

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. The total number of CDTCs issued is 300 million.