Credefi (CREDI): on the success of its IDO!

Thu 27 Jan 2022 ▪ 21h10 ▪ 6 min read — by James Taylor

This Bulgarian company deserves your attention, especially if you are an SME owner looking for the best loan formula to further your expansion. Those who place their trust in this avant-garde alternative are called Credefians. If you like the idea of ​​such an innovative loan, opt for the CREDI token. Its affiliation with Cardano, a platform renowned for carbon neutrality, is only one of Credefi’s numerous benefits.

CREDEFI

About Credefi

Based on the supply of speculative borrowers being largely inadequate to the offer of DeFi loans and a keen interest of SMEs in Peer-to-Peer and crowdfunding loan alternatives, the team led by Ivo Grigorov decided to create Credefi in December 2021.

Credefi, a Bulgarian startup wishing to be a first-mover in the DeFi space, assumes the role of a matchmaker between cryptocurrency lenders and SME borrowers. Through its platform, corporate portfolios can be granted secure decentralised loans, while lenders benefit from optimised protection and a fixed annual yield that won’t suffer from the crypto market’s volatility.

To ensure that one day:

– DeFi yields will show good consistency and some degree of robustness;

– SMEs will no longer be faced with the issue of DeFi borrowers being deemed speculative, inconsistent, unsatisfactory or few in number;

– SMEs will no longer suffer from a lack of understanding on the part of banks or high interest rates;

Credefi thinks it necessary to grant them reliable DeFi loans, connect them with creditworthy partners within a single win-win platform.

To do this, the Bulgarian company provides commercial project promoters as well as individual companies with three distinct formulas:

– Portfolio Lending

Reserved for CREDI token holders, this solution offers stablecoin loans to credit portfolios with a dynamic risk profile. For this type of fixed annual rate loan, Credefi provides lenders with risk assessment and credit score measurement tools for decision-making. 

–  Project-based P2P lending 

In view of the blockchain’s decentralised financial capacities, Credefi offers P2P type financing conducive to the liberalisation of the borrowing process. Thus, it enables loans both with and without guarantees, including studying the requests on a case-by-case basis.

– Trade Finance

This is where Credefi demonstrates excellence in combining the concepts of DeFi and TradFi, as this type of financing includes traditional banking instruments such as commercial financing. It’s therefore not uncommon to face the possibility of underwriting a Letter of Credit, a Letter of Guarantee, or even factoring services.

Back to Credefi’s IDO

As a reminder, the company’s Initial Dex Offering (IDO) was held on 8th November 2021 with a  Cardano-based launchpad called Cardstarter (CARDS). On occasion, investors were invited to buy CREDI tokens as soon as the generation of Credefi tokens was formalised. As for being listed on high-volume CEXs, Credefi was added to PancakeSwap and UniSwap in December 2021.

CredeFi, a bridge between TradFi and DeFi

Why this launchpad

Driven by the desire to stand out from the crowd using a direct listing or an IEO, Credefi has opted for a level 1 launchpad called CardStarter, which was developed on the Cardano blockchain with a negative carbon footprint.

With its large community, this launchpad can give Credefi great visibility among Ethereum users. It should be noted that DeFi protocols compete in intelligence to amass the maximum number of users and TVL. So, targeting ETH users was probably a good strategy, with their ecosystem plagued by congestion issues and high gas fees.

At the same time, Credefi, Experian’s new partner, dreams of interoperability between the chains, allowing users from other blockchains to have freedom when choosing a DeFi protocol, hence this Cardano launchpad. And not just any launchpad, CardStarter!

This particular choice is motivated by several reasons, including CardStarter’s history. It was the first launchpad supporting the deployment of projects on Cardano. Moreover, it’s capable of delivering global IoT, and the team it relies on boasts a wealth of experience and qualifications.

Keep in mind that CardStarter is related to many other important projects in the Cardano network, such as CHARLI3, Gero Wallet, MatrixSwap, Paribus… All of them got good ratings just after their IDO.

Zoom in on Credefi key tokens and IDO metrics

Tokens available to the public: 30,000,000 (representing 3% of the total supply)

Sale price: $0.014

Acquisition of rights: 34% unlocked during the TGE, 33% unlocked 1 month and another 33% 2 months later

Total amount of public sales: $420,000

Total amount of private and public sales: $2,195,000

Initial market capitalisation: $756,000 (i.e. 54 million CREDI tokens)

Total supply of CREDI tokens: 1 billion coins

This IDO marked a new page in the history of DeFi, in particular with regard to the loans that SMEs will be able to take out. Admittedly, this is a very big ambition for Credefi given the promises that come with its solutions of speed, guarantees, and possibilities of negotiating loan conditions, but the initiative is really worth it. Cardano’s beloved carbon neutrality will be the icing on the cake.

Sources: Medium; Forbes

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James Taylor

Trends are temporary. The blockchain isn’t a trend; it’s the future. I want to help as many people as possible understand it in a simple, clear and interesting way.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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