Credit Club (creditclub)

New Feature: in addition to the rewards you earn for normally backing your friends. You can now earn CreditClub Rewards for learning how the miniapp works. Currently you can spend those reward points as "statement credit" just like a credit card reward program. New reward options tba! What kinds of onchain rewards would you like to see?

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CreditClub miniapp is ready for testing! what is it? ~ decentralized credit. how does it work? 1. deposit usdc. 2. vouch for a friend for you trust 3. your friend can borrow up to the amount you set If you'd like to borrow, share your profile directly with a friend who trust you or the feed. Using the following format: https:// mini . creditclub . cc /user/your-fname-here Please send bugs to dev: @kingjacob & reply here with any general comments/questions. (FAQ continued below) mini.creditclub.cc

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CreditClub miniapp is ready for testing! what is it? ~ decentralized credit. how does it work? 1. deposit usdc. 2. vouch for a friend for you trust 3. your friend can borrow up to the amount you set If you'd like to borrow, share your profile directly with a friend who trust you or the feed. Using the following format: https:// mini . creditclub . cc /user/your-fname-here Please send bugs to dev: @kingjacob & reply here with any general comments/questions. (FAQ continued below) mini.creditclub.cc

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FAQ (pt2) how do you determine credit scores? - this is not simply scores, it's real $ credit. who should i trust? - that's entirely up to you. whats the apr? - 5% / yr + 0.5% fee why? - creates a source of credit independent of banks & credit agencies - give everyone the ability to underwrite the people & businesses they trust what if someone doesn't repay? - if a borrower doesnt make at least an interest payment 30 days after they borrow then the debt will be marked overdue, and then written off 60 days after that using the stake. Trust is not risk free. what if they repay? - your stake is unlocked and you earn rewards for them actively using your stake. So it's very positive sum as long as people dont default on their friends. why should i use this over a credit card? - the questions more "when" should you use this. For monthly expenses where you repay the card at the end doesnt make sense. - Currently makes most sense for larger expenses you plan to pay off over 1-12 months.

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not having $ is why we exist, you dont need usdc to borrow just someone to vouch for you.

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