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New partnership between Cred and BitBuy allowing bitbuy customers to take part in Creds services.

https://business.financialpost.com/pmn/press-releases-pmn/business-wire-news-releases-pmn/bitbuy-and-cred-launch-high-yield-crypto-lending-platform-for-canadians

Hopefully will bring a few more customers in and more holders of LBA.

current price: $0.0212

current CS: 603,080,177

Edited by Mitty

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Volume holding steady and rising actually.  New website and blog being rolled out.  It feels like the company has switched its product into "sell" mode.  Hoping for a steady trickle of announcements and new customers.  I really appreciate how things are developing and the trend in general.  I wonder how many more weeks this will remain under the radar.  

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Hey Green Thumb, It definitely feels like LBA is going under the radar. I have been using creds lending services for something like 10 months (only a small percentage of my holdings). It works great and they definitely seem like a professional outfit. I am still shocked how they never get a mention on /r/cc  and the market cap is so low compared to other coins that are all hype and no substance. I keep adding a little every fortnight along with adding to my xrp stack. I am currently in a new round of lending(LBA->LBA) every fortnight for 6 fortnights to increase my returns from cred and my exposure. Still at a level i am comfortable with, as they say not your keys, not your crypto. But not only am i making a decent return it's also supporting the crypto environment. 

 

The volume looks like wash trading on bithumb global. I wouldn't put too much value on that. 

 

current price: $0.02

current CS: 603,523,897 (500k increase)

Edited by Mitty

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Cred has been pretty quiet in the last few weeks. Price is holding up reasonably well compared to the over all market. Sitting at ranking of ~180 on CMC.

At some point in the last 2 weeks the supply increased by 25million. Uphold currently has 1.25mil USD obligations. 

There is an AMA with Dan Schatt (CEO of Cred) and JP Thieriot(CEO of Uphold) Tuesday the 26th.

https://www.reddit.com/r/universalprotocol/comments/dzu7bb/the_2nd_reddittelegram_ama_with_dan_schatt_and_jp/

 

On a different note it looks like creds competition is heating up. Uphold is now supporting the celcius network and are planning full integration in the next phase. Only 3% return on XRP or 3.9% if you take your interest in CEL.  Pays out every Monday (in XRP or CEL) and no lockup period. I don't think its worth the hassle right now. But once it's fully integrated I plan to give it a shot. Creds rates are way better at 2.25% per 3 months vs .75% per 3 months. Paid out in XRP is great tho(Cred should have this at some point in the future) and no lock up period is also great. With upholds XRP deposit and withdrawal fees you could easily and profitably move your xrp in for a few weeks and pull it out with out any major costs. If you trust uphold then it would be a no brainer to leave it sitting there racking up interest and with the info we have  now you should be able to pull it from the celcius program, withdraw it out of uphold and on to an exchange and sell it all with in a minute or two at very little cost.

 

current price: $0.0223

current CS: 628,523,897 (25mill increase)

 

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Hi GreenThumb, Yeah, I wasn't expecting much from the AMA but was pleasantly surprised. Here are few of the more interesting segments of the AMAs replies.

 

"The Alliance, in partnership with Cred, will be launching financial operating software that will allow merchants to accept debit, credit, prepaid and crypto as payment. Many cash-intensive businesses cannot accept these forms of payment, and the unique operating system offered to merchants will translate USD payments to LBA, which will be collateralized and advanced to merchants and local city tax collectors as UPUSD. The last “last ethereum mile” is where the OmiseGO network shines, allowing ethereum based stablecoins to settle instantly with the city tax collector and merchant."

 

"We’ll be updating the roadmap at the end of this year / early next year. Please stay tuned!"

 

Q]Why did you release another utility token, whereas you have LBA and can readily use it within the alliance? Does this mean LBA will become obsolute in the near future and be replaced by UPT?

A]The two work in a very complementary fashion. LBA provides banking like services to all UP tokens whereas UP tokens are a utility for a variety of partners. LBA is specifically used within the banking realm, to increase earning rates, decrease borrowing rates and increase throughput of commerce transactions.

 

Q]Where do you see Cred's LBA and Alliance's UPT in the next 5 years?

A]Highly complementary. UPT will be used across a wide variety of alliance partners. LBA will be used for all banking functions associated with all UP tokens.

 

Q]The future of LBA is not clear as much as UPT's. Will there be any updates for LBA on its advancing utility?

A]10% of circulating LBA has already been staked due to Cred’s popularity in offering the highest earning rates and the lowest borrowing rates. With the addition of the point of sale system, every $1 spent at a Cred POS will result in the use of $1 of LBA!

R1]Thank you. What will happen to that 1$ worth of $LBA? Will it be removed from circulation? Or staked? If staked, how long will it be staked for?

R2]Only ~600M LBA is currently in circulation, the rest are locked in reserves, unlocking fully in 2021. The LBA will be in continuous circulation as a true utility token. Think of an ATM process today with many merchants -- customers come to purchase something, they are directed to an ATM to “buy” cash. They hand the cash to the merchant who then redeposits the cash back into the ATM...this is probably the single largest utility use case that exists for the crypto industry...it bridges mainstream finance and crypto. LBA will always be in continuous demand as a result. And as more are interested in obtaining the best financial services rates, more is continually staked...No additional LBA will ever be minted...

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The Mayor of Emeryville (10k population in Cali),  Ally Medina, joins Cred to lead the company’s strategic government relations and business development initiatives.

https://mycred.io/blog/mayor-appointed-director-government-relations-business-development/

https://www.businesswire.com/news/home/20191202005737/en/CORRECTING-REPLACING-Local-Mayor-Appointed-Director-Government

not sure what sort of impact this will have but i don't think it could be a negative.

 

current price: $0.023

current CS: 638,523,897 (10mill increase)

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It's been a pretty non-eventful last 4 weeks. 

current price: $0.0199

current CS: 638,523,897

Latest article re-hashing their insurance - https://mycred.io/blog/crypto-insurance/

Going to host a monthly AMA (first will be Weds 22nd Jan 8.30AM PT)- https://mycred.io/blog/credamaseries/ 

OMG, Stellar, Nano, DigiByte and 0x were all added to Cred(4%) via Uphold. - https://twitter.com/ihaveCred/status/1214641673176788992

 

Creds latest rates from Dec 2017 - https://twitter.com/ihaveCred/status/1206662549279784962

 

Creds 2019 wrap up - https://mycred.io/blog/cred-year-in-review-2019/

 

 

 

 

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Cred announced moving to monthly payouts instead of quarterly. For those that want a recap (if you know how it works skip it):

Lend CredEarn any amount of one of the ~30 assets they pay interest on. We will use 1000xrp which is currently paying 6% at the premium rate. To get the premium rate you need to "stake" 10,000 LBA by giving custody of it to Cred, no interest is paid on LBA staked. On the next 1st or 15th of the month Cred will accept, or not, your capital and lock it in a 6 month contract at the current USD value of the parcel, for ease we will say xrp is worth $1.00. On each 1st or 15th (which ever the contract was accepted on) of the next 6 months the contract will pay out to the matching uphold card in USD(or LBA if you chose that as your pay out currency) .5% (6 months of 6% per year is .05% per month) of the total original value. So in this case you would get 5 USD transferred to you each month for 6 months where upon your 1000XRP will auto enroll for another 3 months or you un-enroll and get your original 1000 XRP back in your uphold XRP card where you can transfer it, sell it or re-enroll it on the next 1st/15th.

 

Creds Announcement:

"Now introducing monthly payments!

We are thrilled to offer our customers more flexibility and liquidity. Get your interest payments faster and more often with the introduction of monthly payouts.

  • Access your cash quicker.
  • Reinvest your payouts in more crypto and earn.
  • Available for new programs only.
  • Dashboard

All programs with a start date before January 15th, 2020 will continue to receive their payments quarterly."

https://mycred.io/blog/cred-launches-monthly-payments/

 

AMA will be happening shortly: https://twitter.com/ihaveCred/status/1219008793993859073

 

 

 

current price: $0.0204

current CS: 638,523,897

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CredEarn is a year old. I've been using it from the start. So far so good. Increased the percentage of my portfolio that i am earning interest on but still far from the majority of my coins. Closed out a couple of lendings just to test. Built a small stack of LBA which is now growing due to LBA pay outs from my lent LBA. What will happen over the next 12 months? Hopefully LBA passes the 12 month high. XRP still paying 6%.

Bring on some point of sale news. 

current price: $0.0231

current CS: 638,523,897

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A couple of bits of news. The LTC foundation has announced Cred as its "strategic partner for borrowing and earning" 

https://litecoin-foundation.org/13731-2/ 

This is one of the bigger partnerships they have announced and should definitely generate awareness of Cred and its services.

A few articles have popped up on the back of this announcement

https://decrypt.co/18904/litecoin-foundation-teams-up-crypto-lender-cred-for-loans-service?utm_source=twitter&utm_medium=social&utm_campaign=auto

http://www.prweb.com/releases/litecoin_foundation_partners_with_cred_to_offer_financial_services/prweb16885498.htm

https://www.financemagnates.com/thought-leadership/crypto-lending-has-come-a-long-way-but-the-best-is-yet-to-come/

https://cointelegraph.com/news/litecoin-foundation-partners-with-cred-to-let-holders-earn-interest

An interview with Dan Schatt CEO of Cred

https://cointelegraph.com/news/watch-bitbull-capitals-joe-dipasquale-and-ftxs-sam-bankman-fried-talk-crypto

Not a bad read with some interesting insights into crypto as a whole.

This article is a few days old but not bad. Regarding Cred in general and how their services work. 

https://blockonomi.com/cred-review/

current price: $0.0237

current CS: 638,523,897

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The second AMA with Dan Schatt happened yesterday, This one had a bit more info that i found interesting compared  to the last.

 

Take aways below.

---------------------------------------------------------------------------

USER: You wouldn't have any issue with an early adopter showing up and potentially chucking in 5000btc for 10%apr

DS: Great question!  We can put several hundred million dollars to work at these rates, and we are continuing to open up more capacity on an ongoing basis

---------------------------------------------------------------------------

In regard to reinvesting interest payments directly back into the lending amount(not having to wait the ~15days to re-invest it).

DS: Hi!  Yes, this is annoying — we will be enabling re-investing of interest earnings over the next few weeks

DS: Generally, over 80% of those who are using CredEarn are hodling well beyond the initial 6 month period, and re-enrolling, and we will plan to make it much easier for interest proceeds to be reinvested

DS: This will be rolled out in phases — we’ll start with new, and then we’ll be able to accommodate existing, but upon re-enrollment, it will be possible

---------------------------------------------------------------------------

USER: If participants in the cred earn program are being paid out their interest in LBA is this interest payment simply purchased at market rates on uphold etc or are coins being released from Creds LBA holdings to pay for the interest?

DS: Great question.  Every sweep period we have up to 30 different crypto and fiat assets coming in, and up to 30 different crypto and fiat assets going out (in the form of interest payments and principal payments).  If we need to pay out more LBA than has come in, we will go into the market and purchase more.

---------------------------------------------------------------------------

USER: How much boom could Cred endure before the model broke? If crypto was to 10x or 100x, in a couple of months. Do you have contingencies in place for this? in the past, sudden large crypto movements have wiped out lending ecosystems

DS: The futures contracts on Bitmex and other highly liquid providers are solid, and require cash collateral.  Aside from our 100% hedged position, we have reserves in place to support movements. We are not taking naked positions with respect to our hedging

 

Interesting comment again Dan stating next month will be another big month for them

"BTW - March will also be a terrific month! All I can hint at — we will have fantastic new functionality coming, and some really exciting partners we’ll announce!"

I guess the litecoin foundation was one of the big Feb anns. And hopefully the interest reinvest mechanism also comes out in feb.

 

Quote from Dan in the following article

“It’s clear to us that customers have a tremendous appetite in passive earning on their crypto. We expect over the next two years, most custodial exchanges and wallets will offer passive earning opportunities, similar to the way banks operate today.”

https://cointelegraph.com/news/institutions-eye-bitcoin-as-hedge-against-global-economic-volatility

 

Is there anyone out there still sitting on the fence in regard to just picking up the 10k LBA for better lending rates? Cred seems to be growing and maturing nicely. Even if you are not willing to take the risk to lend your coins today what is the reason for not grabbing 10k LBA so if you do decide to lend you get the much better rates. Just wondering what peoples thoughts are around this?

Thanks for reading all. And if you have questions regarding LBA/Cred please ask and i will do my best to answer/find the answers for you.

current price: $0.0215

current CS: 638,523,897 (unchanged)

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