Bi-weekly Credix updates

Update #13: 30/5/2022

Product: Still working hard on developing and testing new features. Security audit ongoing! Also, you might see an updated landing page soon…

Borrowers: Yet another deal went live and we’re expecting some larger deals going live this week. Check out our socials for the latest deals! Additionally, we visited some of our partner fintechs in Colombia and the Colombia fintech association.

Investors: We’ve upgraded our underwriter policy and are launching our underwriters program for selected investors. We’ll share more on this soon. Get early access by signing up here bit.ly/3ypPdai

Team: Check out angel.co/company/credix in case you’d be interested in joining the Credix team as we are growing in EU, Brazil and the USA!

Varia:

• The Credix team will be working from Brazil in June, meeting with clients, partners and teambuilding in Rio!
• We moved to a larger office in Antwerp and are opening our NY space too!
• You can find more data about our LP on defi llama here defillama.com/protocol/credix
• Chaim will be speaking at BlockchaInRio early september!

Update #12: 11/5/2022

Product: Last weeks we’ve been working extensively on some new smart contract/program features, on the front end and the digital onboarding flows for the borrowers and the investors whilst starting the audit of our new program code which will be shipped over the next month! Expect a lot of new features going live mid-June!

Borrowers: We’ve been preparing 4 transactions with our fintechs in parallel which will go live over the next days + closing a couple of other strategic deals! More on these soon!

Investors: New USDC liquidity pool deposits and commitments! Additionally we’re launchin a new initiative for our current liquidity providers seeking yield on their USDC. Go to bit.ly/3ypPdai in case you’d be interested in joining!

Team: Check out https://angel.co/company/credix as we have multiple roles open, tech, business and legal! We’re always looking for motivated people to join the team! Always wanted to work in a fintech and you’re familiar with crypto, DeFi and web3? Ping us and let’s talk!

Varia:

• We passed yet another audit with glance!
• We’ll be at the Permissionless next week, the largest ever DeFi conference! Let’s meet?
• The marketing stuff we’ve touched upon last update? You’ll see the first results coming by over the next days. Here we go!
• Chaim will be visiting our (fintech) partners in Colombia next week! Do you represent a Colombian fintech or do you know any we should speak to? Let us know!

Update #11: 21/4/2022

Product: Heads down building new program features; preparing for an upcoming audit and releases. Optimising DevOps/CI/CD even more to make our development processes as automated as possible

Borrowers: Last week we organized our first fintech meetup in Sao Paulo. Super exciting to meet everyone in person and listen to our loan originators talking about their experience working with Credix. We’ve also disbursed another 3,75M USD and are preparing the next deals as we speak!

Investors: The total value in the protocol (+commitments) is growing significantly. We’re onboarding other protocols, crypto funds and traditional funds to the platform.

Team: We’re delighted to announce Alex will be joining the team, who will be supporting with the credit structuring! We’re actively looking for other team members eager to work with web3, DeFi, credit and financial inclusion. Check out the vacancies and job descriptions below:

• Solana smart contract developer (Remote)
• Full stack developer (Belgium/Remote)
• Marketing and communications manager (Brasil/Remote)
• BDM/growth manager (Brasil)
• Credit analyst (Brasil)
• Institutional sales (US)

Go to https://angel.co/company/credix for more information or reach out to us directly!

Varia:

• We WON the Solana Riptide ‘use case’ prize during the hackathon with our ‘sign in with solana’/identity and access management solution. You can find more info here https://solana.com/riptide/voting/sign-in-with-solana and a demo here https://www.youtube.com/watch?v=AiOxe_V6Hig&ab_channel=Credix
• We’re very excited about our new branding we developed with our partners which we’ll reveal soon!
• Thomas and Maxim flew in from Miami to Sao Paulo to talk with our loan originators, investors and lawyers and to catchup with myself :-)
• Lastly, are you or do you know a high quality credit fintech in LatAm looking for debt financing to grow its buisiness? Please fill in this form bit.ly/3KcvmxR and let’s get in touch!

Update #10: 1/4/2022

Product: We’re working on the tranching mechanism; allowing underwriters to provide first-loss-capital with higher expected yields to specific deals. Finishing up the redesign of our application; more on this next week!

Borrowers: Besides new Fintechs joining the pool and signed termsheets, existing loan originators already signed up for follow-up debt facilities. We’ll also be organizing our first in-person Credix Fintech meetup in São Paulo.

Investors: Besides a growing liquidity pool and capital commitments, we’re having some strategic partners joining the coming weeks. More on this later!

Team: We’re excited to have Stijn (head of operations) and Tim (designer) joining the team as of next week!

Additionally, we’re hiring full stack developers, rust engineers, credit analysts and b2b MarCom champions. Check out https://angel.co/company/credix ! Your job description ain’t there but you believe you’d be of great value to the team? Ping us directly!

Varia:

• Credix and Polygon partnered with Centre to launch the decentralized identity protocol Verite! Press release: https://www.businesswire.com/news/home/20220331005323/en/Polygon-and-Credix-Partner-with-Centre-to-Support-Verite-for-Decentralized-Identity-in-Web3
• Thomas and Maxim will be attending Bitcoin 2022 in Miami next week, meeting with investors and partners and will fly through to Brazil the week after
• Maxim joined Serum’s latest AMA together with the guys from QPools and Citrus and Chaim spoke at the Portal do Bitcoin Summit 2022
• Forbes wrote an interesting article about DeFi and financial inclusion, citing the work we’ve been doing in LatAm https://www.forbes.com/sites/vikasraj/2022/03/15/has-defis-financial-inclusion-moment-finally-arrived/?sh=6bed20161168
• We’ve been selected by Banco Itau to join the CUBO ecosystem!
• Are you a non-bank loan originator in Latin America? Please fill in this form bit.ly/3KcvmxR We’d love to get in touch!

Update #9: 11/3/2022

Product: We’ve built a sign-in-with-solana tool, which allows to authenticate in off-chain services using your wallet. We will soon submit it to the Riptide hackathon! More features coming out soon, stay tuned

Borrowers: We’ve signed new deals with Brazilian fintechs and are working with our Colombian partners to execute deals in Colombia soon too

Investors: We’ve met with LP’s in Czech Republic, UK and USA & welcomed some reputable liquidity providers onto our protocol

Team: We’re always looking for talent willing to challenge and improve how the DCM works. Some open positions include a senior full-stack developer and a QA engineer as listed here https://angel.co/company/credix Your job description ain’t there but you believe you’d be a great value to the team? Ping us directly!

Varia:

• In case you missed it, LABS covered one of our recent transactions with the Brazilian fintech a55. Read more on this here bit.ly/3MFU3oE
• The dev team spent a week at the Solana Hacker House, coding, pitching and some beers. What a viiibe, great to see so many familiar faces!
• The ‘DeFi & Mainstream Finance’ panel in NY that we sponsored was sold out! Thanks all for coming by and the great discussions!
• Are you a non-bank loan originator in Latin America? Please fill in this form bit.ly/3KcvmxR We’d love to get in touch!

Update #8: 25/2/2022

Product: Built the first version of our secondary market, submitted it to the Serum & Wormhole Convergence Hackathon, and ended up being the 100.000USDC Grand Prize winner! If you haven’t checked it out yet, here is our submission devpost.com/software/credix-hyper-permissioned-market

Borrowers: We’ve successfully and seamlessly executed the first transactions with a number of Brazilian fintechs and are now additionally working with Colombian fintechs

Investors: We’re thrilled with the support and trust of our latest liquidity providers and continue to grow the liquidity pool!

Team: We’re looking for a senior full-stack developer and a QA engineer to join our all star team! Check out our vacancies here https://angel.co/company/credix

Varia:

• Serum launched its official accelerator and chose Credix as one of the first cohort startups
• We engaged with a London-based strategic communication and branding firm to support us with our marketing efforts
• We’ll be at the Prague Solana hacker house next week! Come say hi if you’re around!
• Thomas will be speaking at the ‘DeFi & Mainstream Finance: Tokenization, NFTs & the Blockchain Economy’ event in NY on the 10th of March!

Update #7: 9/2/2022

Product: Released the first version of our Javascript client, allowing for easier integration in our application + future Credix integrations by third parties. Built and deployed an event listener service to capture temporal data (e.g. investor’s portfolio value). Completed the app redesign and started the implementation thereof

Borrowers: New fintechs have passed the eligibility criteria and are in the process of being onboarded + new termsheet has been signed

Investors: The alpha liquidity pool is growing and the fintechs can now start to access their liquidity

Team: We’re thrilled to welcome Bart to the team as our dedicated front-end developer. Check out our vacancies here https://angel.co/company/credix (incl a QA engineer)

Varia:

• Thomas and Chaim spent a week in São Paulo, Rio de Janeiro, and Fortaleza speaking with clients, partners, and lawyers
• Thomas attended the LendIt event in Miami
• Max and the dev team submitted their Serum hackathon project, creating the first hyper-permissioned market for Solana using Civic. If you haven’t voted yet, please do devpost.com/software/credix-hyper-permissioned-market
• Solana Pay uses our spl-token-faucet.com to test their functionality on Solana devnet!
• Our dev team will be working out of the Prague Solana hacker house in early March!
• Get 50% discount on your DeFi’s Impact on Mainstream Finance: Implications, Challenges & Results ticket using CREDIXNYC when checking out here www.eventbrite.com/e/defis-impact-on-mainstream-finance-implications-challenges-results-tickets-216292646127

Update #6: 21/1/2022

Product: We successfully deployed Credix to the Solana mainnet. After performing the last end-to-end tests, the protocol is ready for its first transactions.

Borrowers: We’re growing the borrowers pipeline and already exploring other markets

Investors: The investors base is growing… If you’re an accredited investor and still want to join, go to https://bit.ly/3yPyxac

Team: We hired a LatAm credit expert to support with the due diligence and credit risk analysis framework. We’re actively interviewing for different positions. If you want to join, check out: https://angel.co/company/credix

Varia:

• Solana News selected CREDIX as one of the top 3 Solana DeFi projects for 2022
• We’ve officially opened up our HQ in Belgium
• Credix joined the Global Digital Finance — LatAm working group
• We’ve had many requests for moderator roles. Mean Sage will be supporting us and the community moving forward. We might grow the team in the future, thanks for all your enthousiasm!
• We hosted our first AMA, Mean Sage will share the recording soon! Thanks for all the positive feedback!
• We crossed the 1k mark on twitter and discord! 2k next!

Update #5: 6/1/2022

Product: Implemented a state-of-the-art math library to perform arithmetic operations with the highest precision in our Solana program. Added the ability to create multiple deals per borrower. Performing the first test deployments and end-to-end test flows on Solana mainnet-beta. Completed successful external security audit.

Borrowers: The first borrowers have successfully created their wallets and passed the KYB process. We are working on streamlining the onboarding process.

Investors: Our closed alpha investors are being onboarded, passing KYC/KYB, which goes very smooth thanks to Civic. Sign up here if you’re an accredited investor and would like to participate during Q1 still https://bit.ly/3yPyxac

Team: We’re very happy to have onboarded another full stack engineer. Still, we’re actively interviewing for different positions, including a token design and DAO wizard. Vacancies can be found here: https://angel.co/company/credix

Update #4: 23/12/2021

Product: Integrating with Civic to provide an on-chain proof of KYC/KYB. Focussed heavily on testing, penetration testing, and security auditing by an external company to launch on Solana main-net in January 2022

Borrowers: We’ve expanded our FinTech borrowers pool and signed the first term sheets. More on these FinTechs soon. We’re also supporting them with their fiat on- and off-ramp set up through our local partner

Investors: As the interest and volume keep growing from borrowers, we’re allowing more accredited investors to our closed alpha during Q1, 2022. Join the list here if you’re an accredited investor and would like to join/learn more: https://bit.ly/3yPyxac

Team: We’re growing our team and are actively interviewing for different positions, including a Credit manager, another Rust engineer, and a React.js developer. Vacancies can be found here: https://angel.co/company/credix

Varia:

• We raised 2.5M USD early-stage seed funding from incredible investors including DRW Cumberland, ParaFi Capital, Transfero Swiss BRZ Solana Ecosystem Fund, Solana Ventures, Parrot Finance, MGNR, Mercurial, Petrock Capital, Fuse Capital, and a couple of amazing angel investors. Check out the medium post here https://bit.ly/3FoFBxh
• Thomas will be speaking in NY on the 25th of January. If you want to join, check out https://bit.ly/3En6zUH
• Some exciting updates on our roadmap, community initiatives, and marketing will be announced soon
• Merry Xmas and Happy New Year, fellow Credixers. If you’re reading this, 2022 is going to be BIG!

Update #3: 9/12/2021

Product: We’ve open-sourced our own SPL token faucet (https://spl-token-faucet.com/) to give our test users an infinite amount of USDC to play around with (more on the test phase in our next update). Interest and principal repayments can now be done separately and partly. Credix fees on interest repayments and USDC withdrawals have been added. We worked on the robustness of the program w.r.t. mathematical operations. Lastly, we’ve started on the redesign of the app to be in line with our new landing page

Borrowers: We met in person with our closed alpha borrowers in Brazil and defined the terms and conditions of the first four credit lines. Additionally, we onboarded new LatAm FinTechs to our borrowers’ program

Investors: Great to have growing commitments in numbers and amount of qualified investments during Q1 ’22 for our closed Alpha. Interested in participating as a qualified investor? Submit your interest here https://a86b4zzlh4e.typeform.com/to/YUYvR3K2

Team: We’re happy to onboard our third full-time RUST engineer

Varia: Thomas and Chaim went to São Paulo and Rio de Janeiro to meet with our partners, law firms, investors, and borrowers. Very productive in-person meetings and brainstorming about future releases. Full steam ahead! By the way, have you seen our brand-new website? Check it out here http://www.credix.finance/

Update #2: 24/11/2021

Product: The product team has brought the fundamentals from web2 development to web3. We’ve set-up Solana-specific CI/CD pipelines to automate our testing and deployment on the different clusters. Furthermore, we’ve re-thought our account architecture such that future feature development will be frictionless. Lastly, we’ve built our client application’s logic from scratch in typescript; introducing a new way of promise-handling, reducing the number of RPC calls

Borrowers: We’ve initiated the official onboarding of several LatAm fintechs through our know your business process together with our local law firms. Next, the terms and conditions are being discussed with our current accredited investors

Investors: We decided to expand the size of the first credit lines thanks to the interest from both investors and borrowers. If you’re willing to join the closed alpha phase in January as an accredited investor, please fill in the following Typeform a86b4zzlh4e.typeform.com/to/YUYvR3K2 and we’ll be in touch

Team: We’re happy to welcome an additional back end engineer to the team as of next week… but we’re still hiring, especially RUST / Solana program engineers! Check out our job page here if you want to be part of the team or you know someone who might be interested in applying cryptocurrencyjobs.co/engineering/credix-solana-program-engineer/

Varia: We’ll be announcing our first strategic investors and partners soon & we’ll be releasing a new landing page! Stay tuned…

Update #1: 11/11/2021

Product: The v1 of our protocol will be deployed on the Solana mainnet. We completed the initial features which can be tested via our app here https://app.credix.finance/

Main additional features coming up include: periodical borrower repayments, brand-new UI / UX and integrated on-chain KYC. After internal testing, we will also submit our code for a first audit

The Credix team is working together with a global legal firm specialized in debt capital markets and local Brazilian lawyers to finalize the off-chain legal and collateral structure

Borrowers: We will be launching our first credit pool with high-quality borrowers in Latin America in January 2022. We are finalizing the terms with our first borrowers and will be able to share more info about them soon!

Investors: If you are an accredited or professional investor and want to be part of the first credit pool in January 2022 reach out to info@credix.finance

Team: The Credix team is very excited to have onboarded two engineers and a designer

… but we’re still hiring! Check out our job page here if you want to be part of the team:

https://cryptocurrencyjobs.co/engineering/credix-solana-program-engineer/

Varia: We were at the Solana #BreakpointLisbon conference. Great to meet with so many other amazing companies such as Katana, Superposition, Mean Finance, BRZ Token, BiLira and many more in person!