Welcome to the Cred Monthly Report for the month of October.
Cred announced a new strategic partnership with Uphold to give cryptocurrency owners access to better yields and flexible credit through Borrow and Earn, powered by Cred.
Uphold will offer eligible customers a U.S. Dollar stablecoin (Universal Dollar), a fully-transparent, a digital asset that is backed 1-to-1 with U.S. dollars to be held at U.S. domiciled, FDIC-insured banks. Those customers who purchase the Universal Dollar can opt-in to Earn and can receive attractive and competitive rates on their collateral pledges, currently as high as five percent.
Product and Tech Development Monthly Report
Cred（LBA）/C-LOC platform improvement focus: Back-end microservices of Cred (LBA).
- APP users receive a 50% of the commission fee by using LBA when withdrawing assets.
- Added collateral insufficient prompt.
- Added swap entry on the APP loan success page and repayment page.
- APP adaptation and optimization to support more phone models.
Last week, the Universal Protocol (UP) Alliance launched the USD-pegged stablecoin (UPUSD). Since then, we’ve had nearly 100K users register for the $500K giveaway.
UPUSD, when pledged as collateral, pays an annual rate of interest of between 2 and 5 percent, and enables holders to access flexible loans with single-digit rates of interest.