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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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