Discover Credefi Series: The IDO

We are very close to the moment all Credefians have been waiting for…our IDO. Let’s dive in and find out the details!

Credefi’s IDO

Why do an IDO with a Launchpad?

While many projects choose to do a direct listing or an IEO, we believe doing an IDO through a good launchpad with a large community would give Credefi additional boost that every project needs at the start. We have talked to multiple well-known launchpads and decided to partner with CardStarter — the leading launchpad with arguably the most loyal ecosystem in crypto — Cardano. We are proud to be partnering with a Tier-1 launchpad like CardStarter and work with their team of professionals towards the successful IDO of Credefi.

We believe launching with the leading Cardano launchpad will open the doors to the great Cardano community and widen our user base beyond the Ethereum ecosystem. This is important because DeFi protocols are facing strong competition in terms of user acquisition and gaining TVL. While Ethereum remains the leading blockchain in terms of TVL, it provides multiple challenges for most users due to congestion and high gas fees. This led to the development of multiple L2 solutions and alternative blockchains that are growing at fascinating rates and already have billions of dollars in TVL.

We believe that for a DeFi protocol to be successful, it must tap into the users and TVL of various ecosystems. Launching with the leading Cardano launchpad is in line with our long-term vision for Credefi to be cross-chain interoperable and welcome users from all leading ecosystems.

Why CardStarter?

CardStarter is the very first Launchpad supporting Cardano-related projects and has an experienced and highly-capable team to deliver world-class IDOs. Credefi is excited to join the family of CardStarter-launched projects playing an important role in the Cardano ecosystem, including Gero Wallet, CHARLI3, Paribus, MatrixSwap and many more.

The projects launching on CardStarter have had great performance post-IDO and the table below showcases part of the CardStarter Champions.

What are the key token and IDO metrics?

• Tokens for public sale: 30,000,000 (3% of total supply)
• Price: $0.014
• Vesting: 34% unlocked at TGE, 33% unlocked in 1 month, 33% after 2 months
• Total amount of public sale: $420,000
• Total amount of private and public sales: $2,195,000
• Initial market cap: $756,000 (54M $CREDI tokens)
• Total token supply: 1,000,000,000

What’s next?

The whitelist registration of Credefi’s IDO has opened and will run until November 3. Registration began from 31st October at 8 AM PST / 3 PM UTC on pools.cardstarter.io.

Follow us on Twitter and Telegram for the latest news on the whitelist process and the IDO on November 8.

About Credefi

Credefi is a first mover hybrid of a FinTech and DeFi solution connecting crypto lenders of stablecoins 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.

The protocol resolves the key challenges that DeFi and TradFi are facing today: DeFi’s inconsistent yields that evaporate in bear markets, speculative borrowers that are fickle and cannot satisfy DeFi lending supply, as well as the difficulty for SMEs to get TradFi funding at normal interest rates.

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