CardStarter

Nov 9, 2021

4 min read

Credefi Token Update

  1. Listing on CEX(s) — Credefi is finalizing talks with a leading centralized exchange and aim for listing in the week starting November 15. They will announce exact details as soon as officially confirmed, please stay tuned!
  2. Token distribution — all participants in our public and private sales will receive their tokens at the same time, immediately after CEX listing. Tokens will be airdropped to the ERC-20 addresses you have filled in the IDO registration form — you don’t have to claim them or do anything, Credefi will take care of the details and gas fees. To view your CREDI tokens, you should add them to your ERC-20 wallet (Metamask, etc.) — the smart contract address will be announced in Credefi’s and our Telegram and Twitter at the time of CEX listing. To add your CREDI tokens to your wallet, please follow this instruction.

As per Credefi’s vesting schedule, IDO participants will receive 34% of their tokens at the time of CEX listing, with the remaining 66% airdropped in two equal tranches 1 month after CEX listing and 2 months after listing.

3. Placeholder token vCREDI — please note that due to their listing coming at a later date, all participants in the IDO will receive in their wallets a placeholder token called vCREDI that will not be tradable, will not have value etc. — its sole purpose is to verify the owner’s successful participation in the IDO. The actual CREDI tokens will be airdropped to IDO participants at TGE as described above.

4. Listing on DEXs — as CREDI is an ERC-20 token, they will start with Uniswap — the pool will be opened about 5 minutes after CEX listing. As many of you know, o they will open a pool on Quickswap as well, at about the same time as Uniswap.

5. BSC bridge and Pancakeswap listing — Credefi listens to their community and the multiple requests and questions they received about Pancakeswap listing, so they aim to open a BSC bridge and list on Pancakeswap shortly after CEX listing. They will share specific details as soon as possible, please stay tuned to their Telegram and Twitter and NEVER buy tokens from the multiple scammers that have listed “CREDI” tokens on Pancakeswap. They will announce the Pancakeswap smart contract on their official channels and you should ONLY transact with the officially announced smart contract.

6. Staking CREDI to receive our governance token xCREDI — as many of you know, the best strategy to get a head start and make the most out of your Credefi investment is to stake your CREDI tokens to receive our governance token xCREDI. To reward their earliest supporters, immediately after listing they will open a 1-month exclusive window for CREDI tokenholders to stake CREDI and receive xCREDI at the best exchange rate — 1:1. Future conversion of CREDI to xCREDI will happen on a bonding curve at an ever increasing exchange rate. Stakers will be able to receive their xCREDI tokens or re-stake for a longer period to receive even more xCREDI at the official kick-off of their Module X — about 6 months after platform launch. For more details, please refer to Credefi’s Medium Post.

7. Public test of the platform — soon after listing, they will open our platform for testing to a selected group of our early supporters. If you want to test-drive Credefi and help them fine-tune the platform functionalities, you can sign up for the public test — details will be announced shortly after listing and yes, there will be special rewards for those of you that join their quest to make Credefi a better protocol.

8. Official platform launch — following the successful completion of the public test they will have the most-awaited event — the official launch of Credefi platform! Credefi counts on all their community members to actively participate and try it out — be it as a lender or a borrower (if you represent an EU-based SME).

Credefi is a first mover FinTech / DeFi protocol connecting crypto lenders of stablecoins and SME borrowers from the real economy. Credefi’s platform enables decentralized and secured lending to portfolios of business projects or individual companies, protecting lenders while providing them fixed APY.

The protocol resolves the key challenges that DeFi and TradFi are facing today: DeFi’s inconsistent yields that evaporate in bear markets, speculative borrowers that are fickle and cannot satisfy DeFi lending supply, as well as the difficulty for SMEs to get TradFi funding at normal interest rates.

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