Download CRED COIN PAY Whitepaper Version 1.0
CRED COIN PAY - Creating a New Life
Project Summary :
CRED aims to create a new financial ecosystem that helps to create stable human empowerment. The project will provide an easy-to-use platform by leveraging multi-asset crypto financing capabilities on different blockchains
CRED will initially operate on the Binance Smart Chain (BSC) network, with interoperability with Polygon. The project will be designed to take on mass crypto adoption among retail users with the following in mind.
A complete DeFi ecosystem
Simple UI/UX
Built on BSC for speed & effciency
CRED begins as the best platform to generate high-yield returns on coins like stablecoins using auto-staking vaults that auto-compound the rewards of high-grade DeFi protocols.
It is CRED DeFi’s mission to provide highly secure yield enhancement products for coins like stable coins and altcoins, offering users the ability to earn high risk-adjusted returns
The product suite includes single-token yield-enhancement stable coin and non-stable coin vaults, lending & borrowing and leveraged vaults.
In order to provide the features above, CRED DeFi will offer a universally usable wallet, token swap platform, and interoperability across different blockchain net-works.
Abstract:
Traditional financial services such as payments, lending, and borrowing were only available through established financial institutions and banks. With the introduction of blockchain technology, this has dramatically transformed into a new financial ecosystem that has given rise to decentralized finance (DeFi). DeFi’s process operates via automated applications that are developed on top of blockchain platforms.
The mission of DeFi is to allow for a fair and transparent financial system where anyone can participate. It allows unbanked people to access financial and banking services via blockchain technology. In a nutshell, DeFi aims to build an open-source, permission-less, and transparent financial services ecosystem. The decentralized financial system oers services that include trading, lending & borrowing, token mining, asset custody, insurance, synthetic products, and more. Blockchain and cryptocurrency are the core technologies that enable decentralized finance.
When you make a transaction in your checking account, it is recorded in a private ledger – your banking transaction history – which is owned and managed by a centralized party (usually a large financial institution).
Blockchain is a decentralized, distributed public ledger where transactions are recorded in computer code. All data on the blockchain is represented as transactions. The blockchain database is like a ledger where data is added in blocks. These blocks are interconnected and the data is recorded in sequence. The system secures data through an encryption method called cryptography. An arbitrary amount of data input and a credential on each block is encrypted using the hash function. The result of this is a line of text of fixed length, which can be tracked and verified back to the original data but cannot be deciphered back into its original form.
When new data input comes in, a new block is created. The cryptographic hash of the previous block is stored on the new block, the data in the new block is again encrypted into a cryptographic hash, and a credential called a nonce is added at the end. This new block is then validated by the miners/validators and added to the blockchain.
Through this process of repeated encryption and validations, the blockchain provides a secure environment to run applications. Although the blocks are created in sequence, they are not stored on a single server. The ledger itself is distributed to multiple servers/computers worldwide, which eliminates single points of failure and makes the whole system impossible to practically hack. This secures the system by providing users with anonymity, verifying payments, and a record of asset ownership that is very secure and unlikely to be tampered with.
However, although DeFi itself boasts of a new, more efficient financial ecosystem, it has failed to deliver on its promises of being accessible to everyone in a practical way. The CRED DeFi project looks to solve these problems through an ecosystem of efficient DeFi platforms.
CRED DeFi: A New Decentralized Finance Ecosystem
CRED DeFi aims to create a new financial ecosystem that unifies the current DeFi landscape. The project provides an easy-to-use platform by leveraging multi-asset crypto financing capabilities on different blockchains.
It is a newly established platform that will initially operate on the Binance Smart Chain (BSC) network and be interoperable with the Polygon blockchain. CRED DeFi will be designed to take on mass crypto adoption among retail users with the following in mind:
A complete DeFi ecosystem
Simple UI/UX
Built on BSC for speed & effciency
CRED DeFi begins as the best platform to generate high-yield income on stablecoins and high-demand cryptocurrency via its auto-staking vaults.
In the long run, CRED DeFi aims to bridge the gap between traditional finance and DeFi by implementing yield-enhancement strategies commonly used in financial firms to increase returns while reducing risk.
The CRED DeFi ecosystem will run on the principle of maximizing revenue and profit to ensure the protocol’s longevity, capability, and scalability.
CRED DeFi’s token ($CRED) is a limited supply token with a total supply of 6,000,000,000. The token minting period is 6 years, 30% of total supply (5% to be burnt half yearly for 6 years) being rewarded to the liquidity providers (LPs). and 70% of total supply for distribution.
LPs will be rewarded daily with $CRED tokens during this period, with token burns from fees driving value to token holders by reducing token supply.
1.1 The Ecosystem
The development of the CRED DeFi ecosystem will be progressive and highly transparent. As much as the team strongly believes in the vision of the project, we also believe that ultimately, the purpose of such a platform is to give value back to the users, whether they are high net-worth investors or small retail investors just starting out with crypto-based investments. For this, the CRED DeFi project is broken down into two phases, with a long-term outlook for development.
Imagine a future where you don’t have to depend on any financial institution to take part in various financial opportunities. One that does not adopt blockchain maximalism but rather evolves as the blockchain and cryptocurrency space evolves. CRED Defi will be a space where users of all walks of life can avail of financial services without having to be blockchain or crypto experts.
It will be a space that runs on the principles of collective growth, financial freedom, and security. Everything will be secured through a blockchain backbone, one that starts out with the efficient and low-cost BSC, but evolves as the technology matures, and with that, new features and security measures will be added.
1.2 Phase 1
During launch, a total of 20% (1,200,000,000 $CRED tokens) of CRED DeFi’s token supply will be allocated to raise funds via an IDO that will be distributed to the public. An additional 10% (600,000,000 $CRED tokens) of tokens will be used to conduct a private sale for select strategic investors.
At Phase I, CRED DeFi will focus on unlocking 30% of the token supply to reward liquidity providers (LPs) by distributing 1,800,000,000 $CRED tokens out of a total of 6,000,000,000 $CRED tokens, (5% to be burnt half yearly for 6 years).
1.2.1 Auto-Staking Protocol
The auto-staking protocol is the backbone of Pacific DeFi’s fixed-income products.
CRED DeFi’s high-yield vaults and stablecoin yield products rely on vault aggregation strategies (i.e., auto-staking). These strategies combine yield-farming income across high-grade DeFi protocols to produce yield for users that deposit stablecoins and high-demand cryptos on to CRED DeFi’s platform.
1.3 Phase 2
Once the minting process is complete, and tokens are in circulation, CRED DeFi aims to create a long-lasting ecosystem of revenue-generating activities.
These activities include the following:
Trading:
Trading fees are generated when users swap between tokens via CRED DeFi’s Swap & Trade capability
High-Yield Vaults:
Single token staking vaults that rely on vault aggregation strategies. It is a fixed-income product for retail users that diversifies risk across high-grade DeFi protocols
Staking & Farming:
Users stake and farm $CRED to receive rewards in $CRED during the 1-year minting period
Lending & Borrowing:
Users can earn high-yields via lending out their cryptos to the High-Yield Vault participants. This enables the High-Yield Vaults to magnify returns by leveraging lender funds
Stable coin Yield Vaults:
Stablecoin yield products developed by combining yield-farming strategies across high-grade DeFi protocols in to fixed-income product
Cash Back On NearMalls Transactions
All Nearmalls Subscribers can earn CRED Coins via Cash Back Which They Will receive on Buying Plan Subscriptions, On Purchase of their Daily Needs, and Whenever They Do the Utility Recharges.
Staking & Farming:
Users stake and farm $CRED to receive rewards in $CRED during the 1-year minting period
Lending & Borrowing:
Users can earn high-yields via lending out their cryptos to the High-Yield Vault participants. This enables the High-Yield Vaults to magnify returns by leveraging lender funds
Purchase & Utility Recharge Using Nearmalls App
All Our Nearmalls Subscribers Can Use the CRED coins to do their Regular Purchase Activity and Also they can Recharge Mobile, Gas Booking, Electricity Bill, DTH, Fasttag and Other Essentials Recharge.(In this Process Swapping of All Other Coins will Increase)
1.3.1 CRED DeFi Swap & Trade
Our major vision is to create a unified space for our users where they can avail all the financial services that they desire, without having to switch between platforms. The CRED DeFi Swap & Trade will aid in facilitating this purpose.
Liquidity providers can generate LP tokens directly from our platform vs. a DEX such as PancakeSwap, allowing for trading fees to be organically generated through CRED DeFi’s platform.
We Also Provide Internal Swap for all coin to INR on Buying from Nearmalls Vendors.
1.3.2 Analytical Dashboard Development
CRED DeFi’s analytical dashboard enables users to track their CRED DeFi investments in real-time. We will partner with a major analytical dashboard protocol to integrate with CRED DeFi’s platform, enabling charting analytics and buying / selling times of our token.
The dashboard will have sections where users can track real-time data that shows the total token burns conducted, number of tokens in circulation, and the amount of money that has been raised and donated to charities supporting our mission of a plastic-free CRED Ocean.
2. Eradicating Poverty in human
CRED DeFi’s analytical dashboard enables users to track their CRED DeFi investments in real-time. We will partner with a major analytical dashboard protocol to integrate with CRED DeFi’s platform, enabling charting analytics and buying / selling times of our token.
The dashboard will have sections where users can track real-time data that shows the total token burns conducted, number of tokens in circulation, and the amount of money that has been raised and Used to Create empowerment for even non academic candidates and supporting our mission of eradicating poverty in human.
Nearmalls Main Aim is to Bridge the gap between the seller & Buyers by using Cash Back Policy which helps buyers to get discounted price and also the vendors are going to increase their client base by just providing Cash Back to their own buyers at the same time they can surely enhance the Clients base. Adds more leverage when negotiating for a larger base purchase price. Creates the possibility of additional revenue two or three years after the sale.
2.1 Official Partnership with Nearmalls Zone India Pvt. Ltd
We are Officially tie up with Nearmalls Zone India Pvt. Ltd Which offers 3 in mobile Application to the people get benefitted by using it for
- Purchase by making payment
- Finding Right Vendors by using our Business directory service by searching
- Earning money by referral program by subscribing to affiliate marketing
Currently more than 7000 business vendors in variable category are doing business with Nearmalls subscribers & all users across South India.
More than 89,000 Subscribers are using nearmalls to buy their regular daily needs at all variable business premises. And also earning money by referral program
3. Yield Enhancement Vaults
CRED DeFi will offer high-yields on stable coins and altcoins using single-token auto-staking.
This is a strategy where users can deposit single tokens to earn high yield (e.g. on BNB, BTCB, ETH, CAKE etc.) and the vault automatically allocates funds across protocols to generate high risk-adjusted returns.
This strategy works by a single vault automatically allocating user funds to farm yield across different high-grade DeFi protocols and auto-compounding the native token rewards. This produces a yield while lowering risk as risk is spread across many different protocols.
3.1 Lending, Borrowing and Time-Deposits
Lending and borrowing make up core banking functions in traditional finance. Crypto lending / borrowing, on the other hand, has not been able to provide a real use-case since users who need to borrow crypto are required to pledge assets at very-high collateralization rates.
CRED DeFi aims to change the way lending and borrowing is facilitated in crypto by allowing users to lend funds to provide leverage to the High-Yield Vaults, magnifying returns for its users.
Lenders are offered higher lending rates when lending utilization rates increase due to the increased demand to allocate to the High-Yield Vaults.
Yield generated via lending will be given to the capital providers of CRED DeFi’s lending vaults, providing high-yield income to users who deposit stablecoins and altcoins that are then lent out.
Long-term Action Plan
CRED DeFi to create time-locked, fixed-yield vaults. These vaults can be compared to time-deposits found at traditional banks.
CRED DeFi to do trial runs of uncollaterized lending to select users whereby KYC and AML procedures are in place. These products are targeted at high-net-worth individuals and institutional traders who need short-term working capital.
Over cross-chain lending & borrowing capabilities on other low-cost, high-speed blockchains
3.2 High-Yield Vaults
The demand for crypto in DeFi has been increasing as new users transfer their fiat money to Bitcoin, Ethereum, stable coins and altcoins via centralized exchanges.
This creates increasing demand for yield on these coins as users are disappointed with the interest rates they receive from traditional finance.
CRED DeFi’s high-yield vaults will initially be active on the BSC, however the team has plans to scale these vaults across other low-cost, high-speed blockchains such as Polygon.
CRED DeFi will also develop diversified vault products that will act as ‘All Weather Funds’ with highly attractive risk-adjusted returns.
In the future, CRED DeFi will also be develop enterprise-grade high-yield products that cater to high-net-worth individuals and institutions.
3.3 Mobile App, Governance & Reporting
3.3.1 Mobile App Development
All of CRED DeFi’s applications will be available directly through a mobile application. This is the future of DeFi, and platforms should no longer be subject to desktop-only applications.
A majority of cryptocurrency users are predominantly mobile users, especially in developing countries in Africa and South-East Asia, where Android operating systems are the most common.
To achieve scalability, CRED DeFi will develop a comprehensive mobile application where users can seamlessly access all of our services from their mobile devices.
3.3.2 Governance
To truly create a decentralized environment for the users, they have to be given certain control over the project. Each user in the CRED DeFi ecosystem is a decision-maker, and they will be given voting privileges depending on how many CRED tokens they hold.
The Voting Process
To submit a proposal and vote within the CRED DeFi ecosystem, a member must hold and stake the $CRED token. Each token represents 1 vote within the CRED ecosystem.
To propose a topic for voting, users will need to deposit USD 100 worth of $CRED as collateral. If the proposal should fail, they will lose the $CRED collateral, but if the proposal passes evaluation from the council, then the vote will proceed.
If the proposal receives over 51% of the votes from valid voters (staking $CRED), then the depositor will receive their $CRED back as well as a bonus for helping the ecosystem.
The voting time-frame
- 1 week for proposals
- 1 week for evaluation of proposals
- 1 week for voting of proposals
- 1 week for the implementation of proposals
$CRED stackers will be allowed to propose the following changes to CRED DeFi’s ecosystem
- Lending assets
- New additions to the High-Yield Vaults
- Brand updates
- Adding new pages & features
- UI/UX improvements
- Launchpad features
3.3.3 Financial Reporting
It is CRED DeFi’s mission to run as the powerhouse of DeFi. We want to treat token-holders just how we would shareholders. This means issuing regular reports to token-holders regarding project operations and strategy.
4. Road Map
5. Tokenomics
Token Name
CRED COIN PAY
Total Supply
6,000,000,000 CRED
Blockchain
Binance Smart Chain
Standard
BEP-20
Symbol
CRED
5.1 Token Distribution Breakdown
- Seed Sale (5% of Distribution Supply priced at $0.0025)
- Private Sale (10% of Distribution Supply priced at $0.004)
- Pre Sale (10% of Distribution Supply priced at $0.0065)
- Public Sale (24% of Distribution Supply priced at $0.015)
- Airdrop (5% of Distribution Supply)
- Advisor (2% of Distribution Supply)
- Technical Team (4% of Distribution Supply)
- Marketing (15 % of Distribution Supply)
- Ecosystem (15% of Distribution Supply)
- Reserve (10% of Distribution Supply) locked for 1 year
Seed Sale (5% of Distribution Supply priced at $0.0025)
Cred team is proud to announce their Decentralized Token Cred Coin Pay (CRED) Demo about to be released on the Binance blockchain as the $CRED Token Seed Sale is still on going.
The seed sale is an opportunity for early backers to purchase $CRED token at a lower price before its listing on major exchanges.
Benefits of buying $CRED Token
Governance: $CRED holders will be granted the power to use Tokens for utility recharges and other facilities in Nearmalls App, The higher the number of Tokens you have, the higher and stronger the weight of your decision about your Team achievement in the Nearmalls ecosystem governance.
Staking: $CRED holders will enjoy passive income as they can stake their tokens to earn awards and earn more $CRED.
Trading: $CRED holders can trade against USDT or BNB when listed on decentralized exchange.
$CRED Token Seed Sale details
- Seed sale allocation 5%: 300,000,000
- Seed sale price: 1 Rupee = 1 $CRED Token
- Minimum Buy Amount: Rupees 2000
- Maximum Buy Amount: No Restrictions