At long last the date of our IDO has arrived! We are more than excited to welcome to our project the amazing CardStarter community. Together we will make Credefi stronger and will join forces with the loyal Cardano enthusiasts to realize our vision for opening DeFi to real-world businesses and providing stable yields to DeFi lenders.
The IDO marks an important milestone in our journey but it’s just the start — here are the key events we have planned in the next couple of weeks after IDO:
1. Listing on CEX(s) — we are finalizing talks with a leading centralized exchange and aim for listing in the week starting November 15. We 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, we’ll 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 our and Cardstarter’s Telegram and Twitter at the time of CEX listing. To add your CREDI tokens to your wallet, please follow this instruction — https://consensys.net/blog/metamask/how-to-view-your-custom-tokens-in-metamask/ .
You will be able to transact with your CREDI tokens on Polygon and BSC as well to save on transaction costs, please read below.
As per our 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 our 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, we will start with Uniswap — the pool will be opened about 5 minutes after CEX listing. As many of you know, we have won the Polygon development grant and are integrated with Polygon as part of our mission for cross-chain interoperability, so we will open a pool on Quickswap as well, at about the same time as Uniswap.
5. BSC bridge and Pancakeswap listing — we listen to our community and the multiple requests and questions we received about Pancakeswap listing, so we aim to open a BSC bridge and list on Pancakeswap shortly after CEX listing. We will share specific details as soon as possible, please stay tuned to our Telegram and Twitter and NEVER buy tokens from the multiple scammers that have listed “CREDI” tokens on Pancakeswap. We will announce the Pancakeswap smart contract on our 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 our earliest supporters, immediately after listing we 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 our Module X — about 6 months after platform launch. For more details, please refer to our Medium Post: https://medium.com/@credefi/discover-credefi-series-the-credi-and-xcredi-tokens-how-do-they-work-e31fe425b529
7. Public test of the platform — soon after listing, we will open our platform for testing to a selected group of our early supporters. If you want to test-drive Credefi and help us 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 our quest to make Credefi a better protocol.
8. Official platform launch — following the successful completion of the public test we will have the most-awaited event — the official launch of Credefi platform! We count on all our community members to actively participate and try it out — be it as a lender or a borrower (if you represent an EU-based SME).
We are thrilled to have the CardStarter community join Credefi and we are very much looking forward to taking the journey of bringing DeFi to SMEs with all of you! We are available to answer any questions in Telegram and Twitter, as well as the regular AMAs we hold — we’d love to hear from all of you what you think about Credefi and how we can grow together.
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.