Some answers to questions about Creditcoin. Maybe you are one of those who asked about this.
1) Does the listing of mainnet CTC mean that G-CRE become extinct? Or will G-CRE and CTC coexist in different layers?
We’ll never have the power to make G-CRE extinct as we cannot force people to switch their G-CRE for mainnet CTC. This will be true even when mainnet CTC does get listed on exchanges. In other words, G-CRE will always exist on a different layer. It is an ERC-20 token whereas CTC is a separate mainnet token.
Nevertheless, it is our goal to consolidate the ecosystem into one token — CTC — as much as we can. Rather than punishing users for holding G-CRE, our strategy is to create incentives which encourage people to freely switch their G-CRE into CTC.
The biggest incentive to switch is of course liquidity. In other words, which token is easier for our users to sell and trade. Given that only G-CRE is currently tradable, getting mainnet CTC listed is a major priority for us.
Once both tokens are easily tradable, users will naturally swap their G-CRE for mainnet CTC, given the utility advantages it holds, be it to record loan transactions, partake in CTC staking, or with the release of Creditcoin 3.0, perform complex multi-chain transactions.
2) The roadmap does not indicate when GATE will be swappable to CTC. When will the swap be available?
Alongside the launch of Creditcoin 2.0+, we will be releasing a web-app on Creditcoin.org which allows users to perform a one-way swap from GATE or G-CRE to mainnet CTC. Mainnet CTC is required in order to partake in Creditcoin staking. We’ll release a full swap guide when this feature officially launches.
No. At launch, only a one-way swap from G-CRE → CTC will be supported. This feature will be provided via a web-app on Creditcoin.org.
4) In a market with rapidly rising interest rates, 4% APR on the Flexible Yield product may not fully offset the higher risk compared to a traditional savings account. What is Gluwa’s strategy for addressing this continuous increase in rates?
We are constantly looking at the market and considering ways in which to improve the competitiveness of Investor DAO products. Our biggest focus and advantage, in this respect, is delivering new Investor DAO opportunities which offer considerably higher interest rates than traditional savings products.
5) With the proposed transition from PoW to PoS in Creditcoin 3.0, how will network security be maintained and improved? What mechanisms are in place to encourage participation from token holders and ensure a fair and secure block validation process?
The full Proof-of-Stake design specifications for 2.0+ will be released around the time of the upgrade, and is based on Polkadot’s Nominated Proof-of-Stake (NPoS) implementation.
6) Will the Gluwa wallet assume a more central role in the business, or will it primarily serve a supporting role, demonstrating the capabilities of RWA and CTC?
Our primary focus is on delivering more features under the Creditcoin umbrella. This includes new web-app based features. Nevertheless, in the same way you still need a wallet to interact with DeFi protocols, the Gluwa Wallet will still be necessary to perform various activities within Creditcoin’s RWA investment ecosystem, for example, to perform KYC and partake in new Investment Opportunities.