Cardana $CARD - Redefining Credit

[cardana]

Don't forget to vote for us ✅  Let more people know about Cardana🔥  the future of P2P lending:🔥

*Coinsniper: https://coinsniper.net/coin/8894

*Coinvote: https://coinvote.cc/coin/cardana

*Freshcoins: https://freshcoins.io/lvoTD7dP12yuDiW0IKkY/coin/cardana/card

*CoinTopList: https://cointoplist.net/coin/cardana

*Gemfinder: https://gemfinder.cc/gem/1816

*Blockfolio: https://blockfolio.canny.io/coin-requests/p/cardana

*Coindiscovery: https://coindiscovery.app/coin/cardana

*Coinlisting: https://coinlisting.cc/coins/cardana/#

*Coinscope: https://www.coinscope.co/coin/card

*Coinhunter: https://coinhunters.cc/tokens/Cardana

*Cointoplist: https://cointoplist.net/coin/cardana

*Gemhunters: https://gemhunters.net/coin/cardana/

*Coinscout: https://coinscout.cc/listing/cardana/

*Coinsgods: https://coinsgods.com/coin/839

*Coingems: https://www.coingems.tech/coin/Cardana

*Coinalpha: https://coinalpha.app/token/0x88C28D94C260340BEBE32e3574D10380d0bf236a

[cardana]

Cardana is reported on the front page of The Bitcoin News.

[cardana]

Cointelegraph: Soaring token values, a steady inflow of new users and a total value locked (TVL) approaching all-time highs are all signs that the DeFi sector is heating up.

[cardana]

Cardana has now over 13,000 votes on Coinsniper. Thank you!

[cardana]

Cardana continues to trend on Blockfolio and is one of the top projects.

[cardana]

How does the Cardana dApp work?

Shane got into Safemoon early. He has seen his initial investment of $10,000 appreciate into $50,000 over the last 2 years. He is bullish and is happy to continue to hold his $SAFEMOON till he retires in the next 25 years.

Shane does, however, need to find $25,000 fast to help fund a family member's urgent medical procedure. Once again he does want to hold long term and look to minimize any capital gains tax (CGT) impacts from selling down his crypto assets.

So instead, Shane goes to the #Cardana dApp and submits a request to borrow $BUSD 20,000 using his $50,000 worth of $SAFEMOON holding as collateral.

Shane decides on the interest rate that he thinks is fair and reviews the terms, and then sends his $SAFEMOON as collateral via the smart contract, which will act as the custodian for the loan instance.

Soon a lender, Elaine, accepts Shane’s offer and agrees to lend him $BUSD 5,000, with another lender, Frank, lending the final $BUSD 15,000 to take the total loan amount to $BUSD 20,000.

After 1 year, Shane returns $BUSD 22,000 via the smart contract, of which $2k is being paid as interest to the lenders. Shane then withdraws all his $SAFEMOON.

(dApp is not currently live.)

[cardana]

Cardana Weekly Update
This week, Cardana continues to trend on Blockfolio and Coinsniper and is one of the top projects on both platforms. Importantly, we have finalised the first draft of the white paper and published articles in different languages to cater for our rapidly growing global community.

White Paper
We know you’ve been waiting for the white paper. We are happy to announce that the first draft has been completed and the white paper is now sitting with our copywriter for edit. Over the next couple of days, we will be releasing excerpts of the document. You will be able to understand more about how our dApp works and how it is better than other centralized and decentralized platforms.

International Expansion
Cardana continues to expand its geographical footprint. We now have 6 active local community Telegram groups:
*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 published Medium articles in
*Portuguese: https://cardana.medium.com/introdu%C3%A7%C3%A3o-a-cardana...
*Turkish: https://medium.com/@CARDANA_TR

A Portuguese version of our website will follow shortly.

As usual, Cardana is heavily featured by influencers on YouTube:
*(Arabic) Aj Crypto: https://youtu.be/EoE4jhnCi2s
*(English) Crypto Tiger: https://youtu.be/TSpjl0_nlA8
*(English) Prof Crypto: https://youtu.be/tbO1xTHbZb4
*(Hindi) Cheap Deals: https://youtu.be/DjqcYo8cCQE
You can revisit all the videos on our website at https://cardana.io/media/.
Cardana is also reported on the front page by The Bitcoin News.

Next week, we will
*Complete the final draft of the white paper and be releasing excerpts of it from time to time;
*Work on a multilingual website;
*Begin building the prototype of the dApp
*Continue to partner with influencers and trend on Blockfolio
Thank you for your support!

[AmoreJaz]

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.

so what are the criteria before a token is accepted as collateral? hard to stream line if you will just accept any bsc token. also, i believe, that's the challenge you will face. the user may just sell his tokens rather than take the loan. because if it is higher  than the value of the loan, why take loan in the first place? now, you need to think of some rewards program to attract clients to avail your services. otherwise, they will just opt to more popular lending platforms.

[terciduk123]

Lending platforms are indeed attractive. Tell us what percentage of the loan is obtained from the collateral provided? Can we get a loan of 80% of the collateral or less?
The term of your loan is very long, it can be up to one year. What if the value of the collateral provided falls below the loan provided?

[cardana]

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.

so what are the criteria before a token is accepted as collateral? hard to stream line if you will just accept any bsc token. also, i believe, that's the challenge you will face. the user may just sell his tokens rather than take the loan. because if it is higher  than the value of the loan, why take loan in the first place? now, you need to think of some rewards program to attract clients to avail your services. otherwise, they will just opt to more popular lending platforms.

Hi AmoreJaz, In deciding whether to accept a token as collateral, we consider all relevant factors, including but not confined to:
1. Blockchain;
2. Launch date;
3. Liquidity;
4. Trade volume;
5. Market capitalization;
6. Volatility;
7. Supply cap; and
8. Trustworthiness.

Users prefer to take out a loan instead of selling their crypto assets because of two major reasons: (1) They believe the values of the assets will go even higher and that (2) they want to avoid a capital gains tax event.

[cardana]

Lending platforms are indeed attractive. Tell us what percentage of the loan is obtained from the collateral provided? Can we get a loan of 80% of the collateral or less?
The term of your loan is very long, it can be up to one year. What if the value of the collateral provided falls below the loan provided?

Hi terciduk123, in order to protect the users of the Cardana dApp, including both the borrowers and the lenders, we impose an initial loan-to-value (LTV) requirement and employ the concept of stablization to ensure the value of the collateral is always greater than the outstanding loan balance. The initial LTV will be lower than 80%, which is the norm. Depending on the tokens pledged as collateral, the stablization threshold could be up to 80%, meaning collateral will be converted into stable coins to preserve value if the LTV breaches 80%.

[cardana]

Cardana is releasing its white paper in 24 hours. Stay tuned!

[cardana]

Our white paper is now out! Over 30 pages of exciting content to help you understand how the dApp operates and how Cardana is better.

[cardana]

This is one of the best white paper's I have read. Very detailed. After reading this I'll be investing more. Thanks guys, keep the hard work up.

Thanks marky mark! We will continue to update our whitepaper as we go and we are currently developing the prototype of the dApp.

[cardana]

How does the Cardana dApp work?

Jasmine borrowed $BUSD 20,000 a year ago using 164 BNB as collateral, equivalent to USD 50,000 at the price of $305.

After 1 year, BNB has gone up to $400. Jasmine was happy that she didn’t sell her $BNB a year ago. However, Jasmine also found that she was unable to repay the loan because she had recently sent her son to the best private school in the country.

She was relieved when she realized the smart contract would liquidate 55 BNB to pay off the principal and the interest costs as they come due, while returning the rest of the BNB to her.

[cardana]

How does the Cardana dApp work?

A while ago, Betty took out a $BUSD 10,000 loan. At an LTV of 30%, the loan required Betty to post USD 33,333 worth of Safemoon as collateral.

Due to a piece of unfavourable news, the value of Safemoon has collapsed by nearly 50%. As a result, what was originally worth USD 33,000 is now worth USD 16,667, while the LTV increases from 30% to 60% (10,000 / 16,667), or 5% below the stabilization threshold of 65%.

The smart contract sends Betty a message, reminding her that the collateral will be stabilized and converted into BUSD if the value of Safemoon falls further and LTV breaches 65%. Betty is also given the option to post more collateral to avoid a stabilization.

Betty has decided to not post extra collateral and, regrettably, Safemoon kept falling and the collateral is now worth 15,384. With a LTV of 65%, the smart contract liquidates the collateral.

BUSD 10,000 is now returned to the lenders, with the remainder deposited into Betty’s wallet.

[cardana]

Borrowers get to decide on interest rates

Unlike other platforms, we provide maximum flexibility and allow users to set their own interest rates. Instead of being a decision-maker, Cardana has chosen to be an enabler. Our role is to provide borrowers and lenders with a set of market interest rates to facilitate decision making. Market rate information will be sourced from credible data tracking sites, such as https://loanscan.io/.

Borrowers will receive a notification if the interest rate he/she has set is too low compared with the prevailing market rates. This is to ensure borrowers make informed decisions and are aware of the risks of not receiving enough lender interest if his/her offer deviates significantly from what is available in the market.

[cardana]

Lenders receive decent interest incomes

Lenders receive decent interest incomes by lending with Cardana. Interest rates can be up to double digit percentage, depending on the actual market condition and borrower demand. This is meaningfully higher than the interests in the United States and Australia, which are next to zero, as well as in Europe and Japan, which are negative.

[cardana]

As is the norm in the industry, lenders receive most of the interests paid by the borrowers. The remainder will be go primarily to:

1. The Cardana security and insurance fund to maintain a trusted platform;
2. The Cardana dApp to cover such expenses as gas fees; and
3. Cardana token holders for supporting the platform.

[cardana]

How is Cardana Better Than Traditional Lending?

1. Fair

Four out of five Americans who have taken out a loan have never defaulted, yet less than half of Americans have access to prime credit. Even consumers with high credit scores tend to pay too much for loans because the rates they pay effectively subsidize the losses from borrowers who default.

At Cardana, interest rates are determined objectively and not by one’s credit scores, which are subjective and at times detached from reality. As the chance of default is reduced substantially with the aid of a smart contract, subsidization is virtually nonexistent.