# FAQ

#### ***What does CreDA stand for?***

> **Cre**dit **D**ata **A**lliance.

#### ***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)
>
> {% embed url="<https://creda.app>" %}
> ***Creda.app***
> {% endembed %}

#### ***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?***

{% embed url="<https://app.sushi.com/swap?inputCurrency=0xc136E6B376a9946B156db1ED3A34b08AFdAeD76d&outputCurrency=0xFd086bC7CD5C481DCC9C85ebE478A1C0b69FCbb9>" %}
Sushiswap
{% endembed %}

#### ***What is CREDA's contract address on Arbitrum?***

> 0xc136E6B376a9946B156db1ED3A34b08AFdAeD76d

#### ***Can I mine CREDA?***

> Yes, additional information can be found [here](https://creda-app.gitbook.io/new-creda-gitbook/guides/essentials-user-guide#95d2).

#### ***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.&#x20;