Step by step guide
1. Wallet preparation
Essentials wallet
On starting menu switch to Arbitrum network.
Select Discover dApps and select CreDA dApp. You successfully logged in creda.app. You can continue with Step 2.
MetaMask wallet
1.a Add Arbitrum One Network (only for MetaMask)
Click on the Account button
Go to Settings
Click on Networks
Click on Add Network
Fill in the details as below then “Save”
Network：Arbitrum One
New RPC URL：https://arb1.arbitrum.io/rpc
Chain ID：42161
Currency Symbol：ETH
Block Explorer URL：https://explorer.arbitrum.io
1.b Switch to Arbitrum One network
Before you head to the next step, make sure your wallet is connected to the Arbitrum network.
Might help if you visit www.creda.app so your wallet gets connected.
1.c Add CREDA token and SLP token in your Metamask
If your token is not listed automatically, you may add the tokens manually. Within the MetaMask wallet, you have "Assets" and "Activity" sheets. Make sure you are on the "Assets" sheet - scroll down till you see "Import tokens" - select it - paste contract address in "Token Contract Address" and confirm.
Contract address:
CREDA: 0xc136E6B376a9946B156db1ED3A34b08AFdAeD76d
LP CREDA-USDT: 0x2F73FB16933585Ba089100C05561D58FD342bDf5
After successfully adding network and CREDA token, visit the next link:
2. Welcome to CreDA
You can toggle between Light and Dark mode. Before you continue, make sure you bridged some ETH to Arbitrum AETH, as you will need to pay for gas fees. We recommend at least 0.03 AETH as the initial balance.
2.a Profile: Get your credit score
The very first time you need to manually SYNC your wallet, so Credit oracle calculates your Credit Score. After that, the system will auto-sync your credit score every 24h.
Wait a few moments and you'll see your credit score along with the count-down timer till the next credit score auto-sync.
2.b Profile: Mint cNFT
To be able to mint cNFT, your credit score needs to be above 50!
On the Profile tab on the right, click “Approve”. Pay attention to confirm tx as it will appear on your MetaMask.
You need at least 1 unlocked CREDA token + some AETH for the gas fee, to be eligible to “Mint” cNFT. You can buy unlocked CREDA directly on https://app.sushi.com/swap
Once you have 1 CREDA on your wallet balance, click “Mint” to mint the cNFT.
After a successful transaction, you will see your cNFT: - Level 1 is only possible at the moment. - Number (NO.) that is unique and belongs to your wallet
Users will be able to use CREDA tokens to upgrade the cNFT they already own. At this stage only Level 1 is possible! Don't lock more than 1 CREDA! cNFT upgrades will be available over time as the user base grows and will be announced as they are available via social media channels.
2.c Vault - CREDA Locked balance
After successful credit score sync and cNFT mint, you got dropped some CREDA in locked status based on your Credit Score. The higher the credit score, the larger the CREDA locked balance.
Once you CLAIM your locked balance, continue with the unlocking process below.
If you received also an Invitation From Credit Network, JOIN and check more here about.
3. Unlock the CREDA TOKEN
At the moment there are 2 ways you minted your unlocked CREDA on balance:
As a new user or as a direct result of the new (higher) Credit Score
Staking rewards from C pools
In both cases, minted CREDA is locked CREDA. To start the unlocking process, follow the next steps.
After successful credit score sync, you got dropped free CREDA in locked status based on your Credit Score. The user receives a 10% drop from the calculated Credit Score without minted cNFT or 14% if you minted also cNFT.
Step 1
Go to Vault and CLAIM free (locked) CREDA
Once you CLAIM your locked CREDA balance will show in the 'locked amount'.
Step 2
Click “Get LP” to provide the CREDA liquidity on SushiSwap (Arbitrum).
For providing Sushi-LP liquidity, you will need unlocked CREDA + USDT on your wallet balance. You can buy unlocked CREDA directly on https://app.sushi.com/swap
CREDA contract address on Arbitrum: 0xc136E6B376a9946B156db1ED3A34b08AFdAeD76d
At the moment only CREDA - USDT (Sushi LP) pair is available
Step 3
Swap some of your AETH or any other asset you have for desired CREDA token balance that you would like to use for adding liquidity as next step.
Step 4
Provide CREDA/USDT liquidity on SushiSwap (Arbitrum)
After confirming the liquidity, you will see a confirmation page as below.
You may first be asked by SushiSwap to approve the contract. Please approve this request and then “Confirm Supply”
Step 5
After providing the USDT-CREDA liquidity, you will receive USDT-CREDA Pool tokens (SLP) in your wallet.
Click on “Approve” and then “Stake” to stake CREDA/USDT LP.
If for any reason you can't see SLP balance in your wallet before staking it, you can add the contract address manually.
LP CREDA-USDT: 0x2F73FB16933585Ba089100C05561D58FD342bDf5
Step 6
Providing CREDA/USDT liquidity gradually releases, or “unlocks”, your CREDA.
You will find the amount of unlocked CREDA as shown below.
Remaining = TOTAL unlocked CREDA balance
Unlocked = current amount of already unlocked CREDA
Speed/Day = your current unlocking speed rate
Step 7
When you unlock your CREDA balance, CLAIM.
4. Mine CREDA Token
4.a My Bank deposit
go to My Bank section and determine which currency pool and DeFi platform you would like to mine. Examples may include USDT or USDC.
Click “Approve” and then “Deposit” to deposit on your selected currency.
All approval and deposits should be done through "My Bank" and not directly on Earn section!
Once the Borrow functionality is live on CreDA (coming soon), users will receive both the interest and unlocked CREDA token rewards with their lending.
4.b Vault & Stake
Once you successfully deposited assets in My Bank, visit Vault page and click “Approve”, then select “Stake” in one of the available pools;
Users receive locked CREDA rewards via these mining pools.
Refer to the steps in “unlock the CREDA token” if you want to unlock it.
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