Credefi’s Testnet Platform Is Now Live

Place/Date: - January 22nd, 2022 at 11:05 am UTC · 2 min read
Source: Credefi

Credefi’s Testnet Platform Is Now Live
Photo: Credefi

Greetings Credefians! We are excited to share with you that our Testnet platform is live and doing great. We are thankful for your participation and impatiently looking forward to receiving feedback on your platform experience. Remember, our Mainnet Launch at the end of January is approaching! 

As you already know, Credefi opens the doors for investors and SMEs to participate in permissionless lending and borrowing. Our platform enables decentralized and secured lending to portfolios of businesses, protecting lenders while providing them fixed APY that is uncorrelated with crypto markets’ volatility. 

Also, we provide security to your investments through our three-layer security mechanism which combines an in-house proprietary credit scoring, crypto and real-economy, assets collateral, and Credefi’s security module (Module X).

We partner with market-leading traditional institutions such as Experian – named a global fintech leader in the Center for Financial Professionals (CeFPro) Fintech Leaders’s 2022 report. 

As Experian is one of the three largest credit-scoring agencies in the world, collecting data on more than 1 billion companies worldwide and having clients in more than 40 countries, Credefi is proud to be the first blockchain project associated with it.

Our mission together is to strategize on how blockchain technologies and open banking data could enable easy access to finance for SMEs.  Experian’s valuable perspective on traditional finance would broaden our opportunities to validate and adjust the credit scoring models developed by Credefi on its platform. 

Experian is already providing us with an enormous amount of data to achieve high accuracy models that will be acting as a security layer for all the lending activities on our platform. The purpose of these models is to allow us to score borrowers precisely. We aim not to demand more collateral than is needed, reducing friction in the lending process.

The partnership with Experian overall will help Credefi expand its customer base, borrowing decisions, and onboarding new SMEs to the protocol and DeFi in general. 

After all that has been said so far, we are happy to remind you that in December 2021 Credefi has launched on KuCoin. Also, our $CREDI tokens are currently trading on MEXC, Pancakeswap and UniSwap. 

About Credefi

Credefi is a first mover in the DeFi space connecting crypto lenders and SME borrowers from the real economy. Credefi’s platform enables decentralized and secured lending to portfolios of business projects or individual companies, protecting lenders while providing them fixed APY.