FAQ
What does CreDA stand for?
Credit Data Alliance.
Why does CreDA exist, and what makes it different to other lending projects?
To introduce the concept of credit scores to the decentralized finance (DeFi) world.
How does CreDA work?
CreDA (Credit Data Alliance) is the world's first decentralized credit rating service. The CreDA protocol utilizes both real world (off-chain) and blockchain (on-chain) data to compute a user credit score, also known as a credit rating. CreDA provides on-chain credit ratings for the blockchain world by minting a user’s credit profile into a non-fungible token (cNFT). The cNFT enables the user to unlock preferential rates and incentives in a variety of use cases e.g. reduced borrow rates on decentralized finance (DeFi) platforms. The CreDA protocol gives on-chain platforms the ability to model risk profiles across their userbase to offer personalized rates and services, making them more competitive versus industry peers.
What do I need to start using the platform?
An EVM compatible wallet that supports the Arbitrum One chain (i.e. Elastos Essentials, Metamask, TokenPocket)
ETH (or the native gas equivalent for the chain) balance in the wallet. Arbitrum One require aETH for transactions.
Where can I access the CreDA platform?
CreDA is currently accessed via the weblink Creda.App, or directly with the Essentials wallet (discover dApps)
What coins/tokens are supported on CreDA platform?
USDT, USDC, DAI, BTC with more to come.
Is there an App for iOS or Android?
At the moment Web app only.
Where can I buy or sell CREDA token?
What is CREDA's contract address on Arbitrum?
0xc136E6B376a9946B156db1ED3A34b08AFdAeD76d
Can I mine CREDA?
Yes, additional information can be found here.
Can I stake CREDA?
Not possible during the Soft launch period. Staking will be available as part of the upcoming Hard launch.
How many chains are supported for CreDA?
At the moment, CreDA app is deployed only on Arbitrum One chain with support of Ethereum, Binance sidechain (BSC), Huobi Ecological chain (Heco), Polygon, Fantom and OEC chains.
Was there a pre-sale/IDO for CREDA?
No, only Beta testing rewards and a small airdrop for early testers.
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