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  • Home
  • introduction
    • CreDA Protocol Whitepaper
      • 1.2 Background
      • 1.3 Mission
      • 2. Function module
      • 2.2 Credit Module
        • 2.2.1 DID
        • 2.2.2 How Credit Ratings are Computed
        • 2.2.3 Connecting On-chain and Off-chain Data
      • 2.3 Credit NFT
        • 2.3.1 Features of Credit NFTs
      • 2.4 Credit Contract
      • 3. Tokenomics
        • 3.2 Economic model
        • 3.3 Roles
        • 3.4 Repurchase
        • 3.5 Staking
        • 3.6 Unlock
        • 3.7 Treasury
        • 3.8 Development Committee
        • 3.9 Allocation
      • 4. Mining
      • 5. Governance
      • 6. Milestones
      • Disclaimer
  • Elastos guides
    • Elastos Guide
    • What is ELA?
    • Where can I buy ELA?
    • Wallet selection
    • Essentials wallet setup
    • Metamask wallet setup
    • Contract addresses on ESC
    • Main > Side Chain tutorial
    • CreDA bridge tutorial
    • Tutorial CreDA dApp on ESC
    • cNFT mint levels and upgrades
  • Arbitrum Guides
    • Arbitrum Guide
    • Wallet selection
    • Arbitrum Bridge tutorial
    • Step by step guide
    • CreDA contract addresses
  • Getting started
    • Credit network
    • Credit account
    • CreDA leveraged farming
    • How & Why to mint cNFT
    • cNFT mint levels and upgrades
    • cNFT benefits for user
    • Invitation from Credit Network
    • Migration CP pools > C pools
    • FAQ
    • DeFi Glossary
    • Disclaimer
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  1. Getting started

Credit account

PreviousCredit networkNextCreDA leveraged farming

Last updated 3 years ago

Note that all of the following conditions must be met in order to to use Credit Account features:

  • Credit Loan Requirement: Credit Score>=500

  • Credit Network Layer 1 Users with 500 Credit Score or above>=10

  • The Users available to insure in Credit Network Layer1+Layer2>=10

  • The Credit Loan Amount is $100 minimum and the maximum is 10x users’ insurable amount available in Credit Network Layer 1 + Layer 2.

Credit Network adds three functions:

  • Insure amount the amount you guarantee

  • Payout amount when you guarantee another lender and the lender cannot repay the loan then you pay the loan for the lender

  • Insurance Income when you are a guarantor, the other party needs to pay you the corresponding guarantee fee.

There are three (3) tokens in “STATES‘’ (USDT, USDC, DAI) Right under, you can view the “Loan Available”, “Borrow”, and “Total Value” of each token.

If you see the pop-up message "Sufficient Credit Network Requirements", it means your Credit Score is <500

“MANAGE” your debt, where you can pay or borrow more.