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Author Topic: Cardana $CARD - Redefining Credit  (Read 330 times)
cardana (OP)
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July 23, 2021, 01:28:33 AM
Last edit: August 01, 2021, 11:39:33 PM by cardana
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Cardana
Redefining Credit with Crypto Backed P2P Lending


Cardana is a decentralised lending platform. It is built on a peer-to-peer (P2P) model in which borrowers and lenders interact directly without the need of a bank, broker, or financial intermediary.

Lenders and borrowers interact directly within the Cardana platform. Cardana allows lenders to provide liquidity and receive interest in return, and allows borrowers to borrow any amount they want for however long by providing collateral, eliminating the need for any registration or Know Your Customer (KYC) processes.

It’s de-fi at its finest — a crowdfunding lending platform for everyone, everywhere, at any time.


Why start Cardana now?


The crypto market has increased rapidly over the past five years, from just under $10 billion total market capitalization in 2016 to $2.5 trillion in May 2021. Nearly 300 million people around the world now hold crypto assets — and the majority are young adults aged between 25 and 34.

While young adults are more likely to be invested in crypto assets, it also goes without saying that young adults are also more likely to have no, or less, cash savings. Oftentimes, this age group is faced with a challenging conundrum — deciding whether to sell a crypto asset they believe in long-term because of the need for short-term cash.

We started Cardana to allow crypto hodlers (including ourselves) to receive liquid funds without selling their cryptocurrencies. Now, individuals who need liquid funds, but want to hold their crypto assets either because they expect their crypto asset’s value to increase or want to avoid short-term capital gains taxes, can simply take out a loan on Cardana.


How does Cardana work?


The Cardana decentralised application (DApp) allows lenders to deposit their crypto assets into liquidity pools which users then borrow from, creating what’s known as a liquidity market. Cardana hosts markets for a number of crypto assets trading on the Binance Smart Chain (BSC), including riskier but popular tokens such as $CUMMIES and $SAFEMOON, as well as stablecoins like $BUSD. Borrowers can withdraw funds from the liquidity pools by providing collateral.


Why lend on Cardana?


Lenders are happy to lend on Cardana despite no KYC or verification process because they can enjoy handsome returns. In addition to interest incomes, Cardana allows lenders to farm the collateral and earn extra yields. Hence, a win-win for both borrowers and lenders.

Also, because the value of the collateral is always higher than the loan, lenders will be made good in case of default. No loss whatsoever. This makes lending extremely safe on Cardana.

  • Accessible: Low capital requirement, you can lend as little as $1.
  • High interest rate: Interest rate is negative in Europe while you can earn double digit interest on Cardana.
  • Safe: The value of collateral is always greater than the loan.
  • Quick: The whole process can take less than one minute.
  • Huge Demand: 80 million BSC token holders vs. ~1.5 million BTC holders


Why borrow on Cardana?

  • No origination, application, or prepayment fees.
  • Skip paperwork, credit checks, and branch visits.
  • 100% privacy and 0% discrimination; no need to disclose purpose of loan or identity.
  • You never make money out of a bank loan, but a crypto-backed loan allows you to earn when your cryptocurrency appreciates; essentially you can borrow for free.
  • Collateral will be stabilised as the loan-to-value (LTV) ratio exceeds 90%, shielding borrowers from excessive volatility.
  • You don’t have to share seed phrase of your wallet.
  • Interest rates are calculated using algorithms, avoiding loan sharks.
  • The whole process can take less than one minute.
  • We offer loans backed by a variety of BSC tokens which other platforms may refuse to accept.


Can you give me an example?


Say you need $10k of $BUSD today to pay for a nice holiday for you and your wife, but you do not want to sell your $CAKE because you made a killer profit from it (and don’t want to pay capital gains tax on it), but more importantly you’re in it for the long haul.

Instead, you can now go to the Cardana DApp and submit a request to the investor pool to borrow $10k, using your $CAKE as collateral. You review the terms and interest rate, and then, you send your collateral to the smart contract, which is going to act as a custodian.

Very soon, a lender accepts your offer and agrees to lend you $2.5k, sending the amount to the smart contract. Then, two other lenders agree to lend you $4k and $3.5k, respectively. With the sum adding up to $10k, the process is now complete. The loan is initiated and you receive $10k of $BUSD from the smart contract.

Notice how easy and straightforward it is without any paperwork, credit check or branch visit.

After 1 year, you return $11k of $BUSD ($10k of which is interest) to the smart contract and withdraw your $CAKE, at which point has gone up 50%! That means not only are you not paying any cost but you have actually earned 40%.


$CARD: The utility token that backs the DApp


The DApp will be live in later this year, after rigorous testing. The DApp will be backed by our utility token, Cardana ($CARD). $CARD investors make money with every loan transacted on our Cardana DApp. Investors also earn passive income by simply hodling the tokens as half of the transaction tax goes to hodlers with the other half going to the liquidity pool (LP) to increase the price floor.


Tokenomics


There is a hard cap of 1 billion $CARD tokens. Supply is fixed. There is a hard cap of 1 billion tokens. 50% of the supply is paired with BNB as initial liquidity. 15% is reserved for project development. 15% is allocated to marketing and 5% is assigned to airdrop. 7.5% will be vested to the founding team and 7.5% will be awarded to other team members as Cardana expands its team.

  • Liquidity: 50%
  • Project development: 15%
  • Marketing: 15%
  • Founding team: 7.5%
  • Future team: 7.5%
  • Airdrop: 7.5%

There is a transaction tax of 10% to reward hodling, of which 5% goes directly to hodlers and 5% goes to the liquidity pool to create an ever rising price floor.


Roadmap


We launched our utility token $CARD on 22 July 2021, alongside our website and social media platforms.

Our Cardana DApp will be live in later this year, accompanied by an audit and a white paper.


How do I get started?


Remember $CARD investors start making extra money from loan transactions in later this year when the DApp is live. So be sure to buy $CARD before then to ensure you get maximum returns!


Join us

Website: cardana.io
Telegram: Cardana
Twitter: Cardana
Facebook: Cardana
Instagram: Cardana
Reddit: Cardana
Medium: Cardana
Email: Cardana


More information

Price chart: BoggedFinance
Explorer: BscScan
cardana (OP)
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August 01, 2021, 11:43:13 PM
 #2

1 week into launch, Cardana has now 200+ holders and a market capitalization of $1 million. Early backers have 100x their money, based on BoggedFinance data.

Security audit is expected to be completed this week, alongside YouTube collaborations and other marketing initiatives. Stay tuned!
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August 01, 2021, 11:54:54 PM
 #3

did you just name your project after cardano?

btw, i don't get the idea of loaning something and you should have the collateral as almost the same amount of your loan? and the platform is not an established and popular one. getting clients would be very hard in the beginning so you need to offer something good to attract your potential customers.

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August 02, 2021, 05:33:40 PM
 #4

Well it quite good to see the token can reach almost $1million cap and has $110K liquidity, impressive.
What about token that reserved for airdrop, I see it on the site but did not see the plan in the roadmap that you wrote, when will you launch it? it would be great to know about it, so people will not miss such a good opportunity.

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August 02, 2021, 10:19:11 PM
 #5

Cardana is heavily featured by influencers on YouTube and TikTok, including
- Goalorious: https://www.youtube.com/watch?v=iw763mabDDE&ab_channel=Goalorious
- Money Ninjas: https://www.youtube.com/watch?v=kCLUEZzoADc&ab_channel=MoneyNinjas
- Crypto Earl: https://www.youtube.com/watch?v=l7IcO7APFrs&ab_channel=CryptoEarl
- Fomotion: https://www.youtube.com/watch?v=uver1bT-s-o&ab_channel=Fomotion
- Davis Pfaff: vm.tiktok.com/ZSJs9Wdyn/
- dk.idol: https://www.tiktok.com/@dk.idol/video/6988825665952959750?is_copy_url=1&is_from_webapp=v1
cardana (OP)
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August 02, 2021, 10:54:59 PM
 #6

did you just name your project after cardano?

btw, i don't get the idea of loaning something and you should have the collateral as almost the same amount of your loan? and the platform is not an established and popular one. getting clients would be very hard in the beginning so you need to offer something good to attract your potential customers.

Hi AmoreJaz

Some people might find our name similar to Cardano. However, our ticker $CARD is very different so there's not going to be any confusion.

If you look at our competitors, say Celsius, you will find that overcollateralisation is the norm. The value of the collateral is always meaningfully higher than the value of the loan to start with.

We attract users with our unique selling points (USPs). One of which is that we accept tokens which others do not normally accept as collateral, including BSC tokens like $SAFEMOON.
cardana (OP)
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August 04, 2021, 04:02:24 AM
 #7

Well it quite good to see the token can reach almost $1million cap and has $110K liquidity, impressive.
What about token that reserved for airdrop, I see it on the site but did not see the plan in the roadmap that you wrote, when will you launch it? it would be great to know about it, so people will not miss such a good opportunity.


Hi sukoyomi,

Thank you for your interest in the Cardana airdrop. We will make sure we promote it before the event starts so people are not going to miss it!
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August 05, 2021, 07:19:18 AM
 #8

Cardana has passed the TechRate audit today with flying colours: https://cardana.io/wp-content/uploads/2021/08/Cardana-Full-Smart-Contract-Security-Audit.pdf
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August 07, 2021, 04:03:42 AM
 #9

Another fruitful week at Cardana!

We have reached an ATH and now have over 300 strong holders. We also expect our token information to be updated on BscScan and BoggedFinance very soon.

This week,
- We have expanded our geographical footprint to not only Brazil, but also to Russia and Korea.
- We continue to be heavily featured by influencers on YouTube
- We have made some progress on our whitepaper and our initial designs
- We have applied to BoggedFinance to update our token info.
- We have followed up with CoinGecko on our listing.

Notably, this is Money Ninjas’ second time to cover Cardana. He was super bullish with the project after seeing the traction we had over the past week and has decided to feature us again.

You can revisit last week’s videos here:
- Money Ninjas: https://www.youtube.com/watch?v=CJpK3x52YpM&ab_channel=MoneyNinjas
- Jim crypto: https://www.youtube.com/watch?v=KeWPQnO2cQk
- Shark Gains: https://www.youtube.com/watch?v=wTxv2Vcahao&ab_channel=SharkGains
- The DeFi Pub: https://www.youtube.com/watch?v=ikNPNWzPEco&feature=youtu.be&ab_channel=%E2%9A%A1TheDEFIPub%E2%9A%A1
- Krypto Kid: https://www.youtube.com/watch?v=KqlAWBc4sWU&ab_channel=Kryptokid
- KRYPTO RETICH: https://www.youtube.com/watch?v=S7BKZFsBCKY
- KRYPTO RETICH (Russian): https://www.youtube.com/watch?v=huvalPUZfNM

Next week, we will:
- Expand our geographical footprint further
- Provide more details to the community about the lending platform
- Continue to collaborate with different influencers
- Ramp up marketing on Reddit and other major platforms
- Make more headway with our designs

Thank you all for your ongoing support, and see you at the end of the week when we hit our next milestone of $2.5m!
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August 07, 2021, 10:29:56 PM
 #10

Join our #Telegram chat in your language:

EN | http://t.me/cardanafin
KR | http://t.me/Cardanakr
VN | http://t.me/Cardanavietnam
CN | http://t.me/cardanachina
BRA | http://t.me/cardanabrasil
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August 08, 2021, 10:41:34 PM
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We are expanding our geographical footprint. Our plan is to have a Telegram group and a website for each major country.
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August 09, 2021, 10:50:21 PM
 #12

Cardana: The Next Coming of AMP

https://twitter.com/CardanaFin/status/1424864605453619200
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August 11, 2021, 01:48:51 AM
Last edit: August 11, 2021, 11:09:17 PM by cardana
 #13

Our roadmap is available on our website. Feel free to ask us any question.
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August 11, 2021, 11:08:50 PM
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White paper and DApp prototype are on their way!
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August 12, 2021, 11:30:31 PM
 #15

Know more about Cardana, the future of global P2P lending, in Hindi: https://www.youtube.com/watch?v=5R3FmxQHyHM&ab_channel=CHEAPDEALSCRYPTO
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August 13, 2021, 10:27:24 PM
 #16

💵  Cardana Airdrop is live!!!

🏮 Welcome to Cardana official Global Community


Participate in our Airdrop and earn to 400 $CARD tokens for doing tasks and 5 $CARD for each referral.

Join our airdrop here:
https://t.me/CardanaAirdropBot?start
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August 13, 2021, 11:01:31 PM
 #17

When will the lending platform be live? I heard it might be ready in September is that true? Very bullish on this project 🙌🏼
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August 14, 2021, 10:02:58 PM
 #18

When will the lending platform be live? I heard it might be ready in September is that true? Very bullish on this project 🙌🏼

Hi Wenbinance, Thanks for your interest in Cardana. The platform will be live in later this year. We will release a prototype shortly. Stay tuned!
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August 15, 2021, 10:50:46 PM
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[Weekly Update] Cardana has made substantial progress in expanding its geographical footprint this week!

We now have 6 active Telegram groups, namely
*KOR 🇰🇷 | t.me/Cardanakr
*VN 🇻🇳 | t.me/Cardanavietnam
*BRA 🇧🇷 | t.me/cardanabrasil
*CN🇨🇳 | t.me/cardanachina
*IND 🇮🇳 | t.me/CardanaIndia
*TRY 🇹🇷 | t.me/CardanaTurkey

We have seen our holder count increased by more than 100 this week, thanks to our influencers across the globe.
*(Azerbaijan) Crytpto Logy: https://youtu.be/LZGhOzyHIoc
*(English) Self Made: https://youtu.be/3Xt-mYRZyWw
*(English) Crypto Wave: https://youtu.be/UTJ31fLhVdw
*(English) Krypto Kid: https://youtu.be/9GfVEeW3AwM
*(Hindi) Technical Sam: https://youtu.be/6fKwDaiPjpI
*(Hindi) Cheap deals: https://youtu.be/5R3FmxQHyHM
*(Pakistan) Crypto Shanza: https://youtu.be/iXGr24VCu7A
*(Portuguese) souEngenheiro: https://youtu.be/eANgweFQ1s0

If you haven’t seen the welcome video by our Head of Community Jake, be sure to look at our pinned Telegram message.

Also, don’t forget to participate in our airdrop. Sign up before the end of the month. More information is available at https://twitter.com/CardanaFin/status/1426308425751859210

More importantly, we have made significant headway in our designs for our dApp.

Our token info has now been updated on BoggedFinance and we are following up with CoinGecko on our listing.

Next week, we will
*Expand our geographical footprint further on Telegram and YouTube;
*Continue to work with influencers;
*Work on website translations; and
*Announce the release date of our white paper (very soon)

We appreciate everyone’s support, keep hodling!
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August 16, 2021, 10:52:53 PM
 #20

Cardana is trending on Coinsniper and Blockfolio, and has seen its holder count increase rapidly.
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