AMA Recap Crypto Library with DeCredit


On 23th September 2021, DeCredit conducted an AMA in the Crypto Library Community. Our guest is Catherine. Lots of questions as usual from the Community about DeCredit progress. The DeCredit team took part in a very interesting AMA session which included introductions, questions from twitter, and a live AMA session with the Crypto Library community. If you missed the AMA in person, read this recap for a deeper insight into DeCredit.

Let’s take a look at the most interesting points of our conversation. 

Crypto Library Team : So, before we start the AMA could you please introduce yourself to our community?

Catherine (DeCredit) : ok, I'm Catherine, CMO of DeCredit, I am an early crypto lover and has been focusing on this field for about 5 years. It's my pleasure to be here to share DeCredit
Crypto Library Team : What is DeCredit? and how does it work?

Catherine (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 collateralised 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.

Crypto Library Team : What are the special features and advantages does DeCredit want to offer?

Catherine (DeCredit) : Our advantages are mainly in these aspects.
  1. We are the world first protocol to build "on-chain and off chain " omni-channel lending scenario.
  2. We are the first project realized regional level and global level credit oracle.
  3. Our biggest 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.
Crypto Library Team : Please tell us about $CDTC token! What are the token use-case, distribution, and also where we can buy it?

Catherine (DeCredit) : 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, 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).
Here are 4 reasons to hold CDTC tokens:

1. Holding the CDTC could increase the credit scores so that to increase mortgage rate
2. Stake CTDC in our platform could earn more CDTC income
3. Stake CDTC could receive airdrop tokens.
4. 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
  • Oracle services
  • Product rule improvements
  • Rating score rule changes
  • Rating level adjustments
  • Improvements/suggestions
Crypto Library Team : Could you give us some information about your roadmap, your milestones, and also your future plans?

Catherine (DeCredit) : 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. We will deliver a solo DeCredit rating system with DeCredit Scoring algorithm.
  • 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.

As for products, our credit-based decentralized lending products have been developed and the testnet event is currently ongoing. In terms of market cooperation, we have reached strategic cooperation with Litentry, Crust, Labs, and Weblock, and we have also cooperated with KOLs and communities in many countries. As for operation, our community and Twitter have reached 85k and 63k respectively, and the community ambassador recruitment and daily quiz game are held in the group currently. In the near future, we will cooperate with more IDO platforms, and recruit more volunteers, KOLs to boost our brand, also, the CEX is under negotiation, let’s stay tuned!
Crypto Library Team : On DeCredit, how do you exchange money? How will we use this credit loan system now that we know how to use it for our daily expenses?

Catherine (DeCredit) : DeCredit builds liquidity pools based on decentralised protocols, which we call M pools. M pools are primarily funded by cryptocurrency cstakings and to start with. The users deposit their cryptoassets into the liquidity pool and lenders lend out funds from the pool. At the same time, DeCredit has also established a D-stablecoin liquidity pool, which is primarily used for credit lending. To use the DeCredit platform, you need to bind the Metamask wallet first, and if you want to borrow tokens, deposit first and enable collateral, then you can borrow tokens according to your mortgage rate. If you want to increase the mortgage rate, kindly finish the credit information in the homepage, after that more tokens can be borrowed for you to use. But don’t forget to repay tokens within your interest control range.

Crypto Library Team : Which chain are you using for your native token and do you plan integrate to BSC,POLKADOT in the future?

Catherine (DeCredit) : Ethereum in the future, kindly keep following us to know more updates!

Crypto Library Team : How secure DeCredit is? Have you applied security audits for smart contract? Is there any audit checklist applied to your platform?

Catherine (DeCredit) : Security is always our priority, and in order to protect the user's data, we first need to ensure that the data is not publicly available, but the user's credit data is so personal that even if it is stored. On the DeCredit project's servers, there is no guarantee that only the user will know about it. While if it is placed on the blockchain, the data volume would be too great a burden on the blockchain. Considering this, we use the "off-chain data storage plus on-chain DNA fingerprinting" approach, where we store the hash value, which is the proof of the authenticity of the data on the blockchain and the hash value of the same offline file is exactly the same. When a call is required, a pointer to the hash operation shall be presented, then the data will be retrieved and proof is provided by comparison. The solution to satisfy the right to erasure is the following: the DNA values of personal data are stored in the DeCredit chain. This is encrypted using a triple key, one proprietary to DeCredit, one persistent Persistence key and one held by the user, whose encryption algorithm is AES256GCM, where the Persistence key is generated by the smart contract and stored on the server, as shown in the diagram. If a user exercises the right of deletion and requests that the information on the chain be removed, this can be done by destroying the Persistence key, which is encrypted with AES256GCM. And our smart contract has passed audit by the Knownsec Blockchain Lab recently, which is a very professional audit company.
You can also check it in our official Twitter.

Crypto Library Team : At the beginning all projects fill the expectations with promises that maybe they will never complete, and then they are just disappear or just fail, so can you tell us how Your project will be able to overpass this intrinsic behavior that a lot of project are suffering?

Catherine (DeCredit) : First of all, our core team has many years of experience in the off-chain credit industry, and has a reliable credit model that has been verified for many years, which is difficult for other projects to have. Secondly, as a team that has been deeply involved in the credit industry for many years, we understand the importance of credit better than anyone and value the needs of community members. As cryptocurrencies are becoming more popular, more projects come out with an empty concept and product, and play users for a sucker. For DeCredit, we adopt the decentralized credit service to create a on chain and off chain lending scenarios, which can make sure that our product has real utility in current market, and once the product has its meaning to exist and token has multiple utilities, the project can have a long term development. Also, the 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 and Metaverse, which can all reach possible cooperation with. So we are confident that we can have a bright future in both the product and marketing development side. 

Crypto Library Team : What are your thoughts on the NFT concept? Have you considered introducing NFT into your ecosystem?

Catherine (DeCredit) : 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. Trusted groups mint the property rights or titles of its housing assets to NFTs and deposit them into DeCredit's pledge pool. Meanwhile the credit data of the asset holder is sent to DeCredit oracle for rating, benefitting the lending from DeCredit’s borrowing pool with optimized liquidity. The trusted groups then converts the borrowed funds into fiat money and give it to LendCo. LendCo allocates funds to different real estate projects. When the investment cycle ends, trusted groups returns funds back to DeCredit and redeems the collaterals.
Crypto Library Team : What is your most ambitious goal of Project? We would appreciate it if you could share with us any Upcoming Updates?

Catherine (DeCredit) : 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. In the near future, we will hold another IDO and get listed on DEX and CEX, let's stay tuned!

Crypto Library Team : Do you have any Coin Burn, BuyBack systems or any Token Burn plans to increase the value of Token and attract Investors to invest?

Catherine (DeCredit) : 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.

Crypto Library Team : Do you have any plans to do airdrops and bounties to the users? How can we join them?

Catherine (DeCredit) : The testnet airdrop event in ongoing! kindly join it from here: 
And here is the tutorial, please read it before participate it: 
Crypto Library Team : I have some doubt to trust you. Can you share your telegram, Twitter, website and social link where are we find you next..thank you?

Catherine (DeCredit) : Here's:
If there is any question, kindly contact our admin in TG, we provide 7*24 service.

Crypto Library Team : Do you have any staking program where I can stake your tokens and earn from them?

Catherine (DeCredit) : Yes, to stake CDTC can earn CDTC income. Before staking, you need to connect to the Metamask wallet and enable the colleteral, then input the stake amount and comfirm it in wallet, after that, you can earn income by staking CDTC tokens.