Credefi PriceCREDI

What is Credefi (CREDI)?

Credefi (CREDI) is a peer-to-peer lending platform that combines decentralized finance practices with traditional finance principles. Positioned as a Real World Assets protocol, it operates on Ethereum and is also associated with the BNB Chain Ecosystem. The project aims to bridge the debt financing gap in the European Union, which is estimated at $176.6 billion, by connecting crypto lenders with small and medium-sized enterprise borrowers. The CREDI token has a maximum supply of 1,000,000,000 coins, with approximately 748,573,880 CREDI in circulation. The token launched in December 2021 and was listed on CoinMarketCap in October 2021. The project has since financed more than 50 SMEs within the EU.

Key Specifications & Tokenomics

• Name: Credefi
• Ticker/Symbol: CREDI
• Blockchain/Platform: Ethereum (ETH); also associated with the BNB Chain Ecosystem
• Contract Address: Ethereum: 0xaE6e307c3Fe9E922E5674DBD7F830Ed49c014c6B (https://etherscan.io/token/0xaE6e307c3Fe9E922E5674DBD7F830Ed49c014c6B); BNB Chain: 0x2235e79086dd23135119366da45851c741874e5b (https://bscscan.com/token/0x2235e79086dd23135119366da45851c741874e5b)
• Category: Real World Assets Protocols, Lending
• Max Supply: 1,000,000,000 CREDI
• Total Supply: 1,000,000,000 CREDI
• Circulating Supply: 748,573,880 CREDI
• Launch Date: December 9, 2021 (token launch); CMC listing date: October 26, 2021
• CertiK Rating: 4.2
• Audits: Audited
• Whitepaper: https://drive.google.com/drive/folders/1ZUqrw3wwBOPwWyPsL9T-w368RdaIS_kW
• Telegram: https://t.me/credefi
• X/Twitter: https://twitter.com/credefi_finance

Who created Credefi?

Credefi was co-founded by Ivo Grigorov (CEO) and Valentin Dimitrov. The company was founded in 2020 by Ivo Grigorov and Valentin Dimitrov and is based in Sofia, Bulgaria; the CREDI token launched in December 2021. Ivo Grigorov is a finance specialist with banking experience, focused on developing and designing various financial instruments. The founders are described as the masterminds behind this innovative solution, with extensive experience in the finance and crypto industries. Credefi has raised an undisclosed amount in funding from Varys Capital.

How does Credefi work?

Credefi operates as a peer-to-peer lending facility where users can lend crypto assets to earn interest or borrow against crypto holdings. The platform assesses company risks using its own engine alongside Experian attestations, employing a credit scoring system for borrowers. Loans are secured by real-world collateral, including real estate and future receivables. Credefi has integrated with the XRP Ledger to offer real-world lending products supporting various stablecoins. The platform also aims to comply with regulatory standards, including AML and KYC regulations, setting it apart from many fully decentralized platforms.

What makes Credefi unique and valuable?

Credefi markets stable, predictable returns backed by real-world collateral and Experian credit scoring, but returns are not guaranteed: borrower defaults, collateral valuation drops or platform risk can still cause losses. The platform addresses a significant market need, as SMEs make up 99% of EU businesses and 33% struggle to get financed. By bridging the $176.6 billion EU debt financing gap, Credefi connects crypto lenders seeking stable returns with underserved SME borrowers. The platform has financed more than 50 SMEs and provided over $3.8 million in total liquidity. Its multi-layered security mechanism and Collateral Protection Insurance further enhance its value proposition.

What is Credefi used for?

The CREDI token is the native cryptocurrency of the Credefi platform, used for transactions, fees, rewards, and governance. Holding CREDI may grant users certain privileges, such as reduced fees or voting rights in the platform's decision-making process. CREDI provides additional security and yield boost opportunities for loans and can be used to secure Collateral Protection Insurance. By depositing CREDI into the Module X security module, users earn xCREDI, the platform's utility and governance token, which unlocks various utilities and rewards based on tier levels. Staking of xCREDI is open, with all staking contracts officially live and active.

How Is the Credefi ecosystem developing?

The Credefi ecosystem is expanding through strategic partnerships and product development. Credefi's partnership with Creditcoin expands its ecosystem, and the platform uses Experian attestations in its credit scoring. Credefi hosted an Initial DEX Offering (IDO) on CardStarter and has run an airdrop to broaden token distribution. The CREDI Whales Club offers an exclusive circle for top-tier holders. The platform is featured in the Built on XRPL Series, highlighting its integration with the XRP Ledger. With more than 50 SMEs financed and over $3.8 million in total liquidity provided, the ecosystem continues to grow despite challenging market conditions.

How to mine Credefi?

CREDI is not mined. It is an ERC-20 token on Ethereum; users deposit CREDI into the Module X security module to receive xCREDI, and xCREDI can be staked for tier-based utilities and rewards funded by the platform's lending activity.

How to keep your Credefi Coin safe?

To keep your CREDI tokens safe, use reputable wallets that support Ethereum-based assets and follow standard security practices. Credefi employs a multi-layered security mechanism to protect user assets, starting with accepting real-world assets as collateral. The platform offers Collateral Protection Insurance, secured via CREDI, providing an additional layer of protection. Credefi aims to comply with AML and KYC regulations, which can enhance account security. Always verify contract addresses before interacting with any platform, and store your tokens in a secure wallet. Credefi states that its platform has been audited; the audit report and auditor details should be verified on the project's official channels.