SmartCredit.io Release 1.1 Beta
We are very excited to announce that SmartCredit.io Release 1.1 Beta is starting. Here is the guideline how to participate in the Release 1.1 Beta:
- Beta functionality
- Beta registration and test tokens
- Beta process and Defect reporting
- Rewards pool for the Beta testers
Beta Functionality
The key new functionality in the Beta are the Personal Fixed Income Funds. The passive investors can:
- Define the rules of their Personal Fixed Income Funds
- Submit funds into the Personal Fixed Income Funds
- Withdraw not-invested funds from the Personal Fixed Income Funds
- Terminate Fixed Income Funds
Additionally, there is now only one account for the Borrower role and Lender role. Plus many other changes.
Personal Fixed Income Funds invest into different loan maturities. Users will define what ratio of the assets should be invested into which loan buckets.
- Bucket 1 contains loan maturities of 0–10 days — these will be invested into the Compound protocol
- Bucket 2 contains loan maturities of 11–30 days — it will be invested into the Loan Requests in SmartCredit.io
- Bucket 3 contains loan maturities of 31–90 days — it will be invested into the Loan Requests in SmartCredit.io
- Bucket 4 contains loan maturities of 91–180 days — it will be invested into the Loan Requests in SmartCredit.io too
An investor can decide how much of his assets he would like to place into which bucket. If investor is more flexibility oriented, then he should invest higher ratio into the buckets 1 and 2. And if investor is more stability oriented, then he should invest more into the buckets 3 and 4.
How to test the Fixed Income Funds?
- One one side user has to define the Loan Requests
- On other side the user will define the Fixed Income Funds
- The matching engine is matching regularly the Loan Requests and the Fixed Income Funds
- Fixed Income Fund is investing into dedicated loan buckets only, if there are enough free funds in the respective bucket. For example, if available Loan Request is for 11 days maturity and the bucket 11–30 days has enough funds, then this Fixed Income Fund will invest into this loan
- Lender can always accept loan requests manually too (this is possible if no Fixed Income Fund has matched them yet)
Be aware that your Fixed Income Funds can match Loan Requests from other Beta participants or vice versa. You should just create several Loan Requests and several Fixed Income Funds and let the matching engine do the job.
If you create only Fixed Income Funds, then you will suck up all the test tokens from other beta participants …So, it should be give and take in beta testing.
And the idea is to simulate the full real life situation here — the more variability, the better.
Beta Registration and Test Tokens
You need to register via sending e-mail to beta@smartcredit.io. Please submit your Rinkeby ETH address in this e-mail too.
After beta launch you will receive an verification e-mail from Amazon Web Services. You should follow the verification instructions from this e-mail.
After that you should access https://beta.smartcredit.io and choose “Signup” — this will bring you into the onboarding section. After the onboarding you can start the application.
First phase of beta is in the Rinkeby Network, the second phase is in the Ropsten network. The beta tokens have to be acquired for both networks.
We need two types of test tokens:
- The tokens for the the underlying’s (ETH, DAI, USDC, USDT)
- The collateral tokens
The ETH tokens can be retrieved via https://faucet.rinkeby.io/ . You need to do a tweet in twitter with your ETH address, you have to copy the tweet into the form and that’s it:
DAI, USDC and USDT tokens — as we are using for the short term maturities the Compound protocol, then we need to retrieve these test tokens via the https://app.compound.finance/asset/:
- You have to connect your wallet and choose Rinkeby Network
2. Then choose “Supply Markets” and then click on Dai, USD Coin and Compound USDT
3. Per every coin click on the “Faucet”:
Metamask transaction will appear, you have to confirm it. And you should repeat this operation per coin multiple times (at least 10 times) — with one faucet transaction you retrieve only 100 DAI or USDC or USDT …
Additionally you will need the collateral tokens — you will receive them into Rinkeby ETH address, which you submitted with your registration e-mail to beta@smartcredit.io.
To see the collateral tokens you will need to register them in your metamask wallet:
- USDC Address: 0x4dbcdf9b62e891a7cec5a2568c3f4faf9e8abe2b
- USDT Address: 0xd9ba894e0097f8cc2bbc9d24d308b98e36dc6d02
- DAI Address: 0x5592ec0cfb4dbc12d3ab100b257153436a1f0fea
- BAT Address: 0x19530F1bb73EBc51F01866590669eE68108dac7f
- MKR Address: 0xcd6921a8f436AD762d424ae598F09760D2e482C1
- BNB Address: 0xb9d4039dd1A35bE6E7d93Aae7fD3eB1A4798325c
- ZRX Address: 0xEB4265dCC09F9107D08b0698f7Cd7a4590282ED2
Choose “Add Token” on the bottom of the “Assets” in Metamask:
And enter the custom token address:
Now you will be able to see your loan underlyings and loan collaterals in Metamask assets on Rinkeby.
After that — everything is settled for the Beta participation!
Beta Process and Defect Reporting
Supported browsers are Brave, Mozilla, Chrome and Edge in the Desktop versions. Please don’t use mobile versions.
You should install Metamask extension into your browser. You should login into your Metamask extension and you should choose a “Rinkeby Network” for the Beta:
Defect reporting — please report defects via e-mail to beta@smartcredit.io. To simplify defect analysis — please use the screen recording tools:
- https://www.screencastify.com/, it will store the recording on your google drive and you should then include the recording into your e-mail OR
- For Chrome, Brave and Edge browsers you can use the Screen Recorder: https://chrome.google.com/webstore/detail/screen-recorder/hniebljpgcogalllopnjokppmgbhaden/ —in this case we don’t need google drive and you could store the recording on some other storage place
- If you prefer not to use screen recordings, then we are satisfied with the text based defect reports too
Ideas, proposals — during the Beta testing you will have some ideas, which could be improved — please send this suggestions to beta@smartcredit.io too
Consolidated list of defects and proposals is available here —it will maintained by the SmartCredit.io team. For beta participants it will be in the read-only mode.
The Beta will run in two phases:
- First phase is on the Rinkeby network (focused on the functionality)
- Second phase is on the Ropsten network (focused on the Ethereum mainnet typical problems — network congestion, gas fees, etc)
Beta users would need to register for the First phase and request the test tokens for the first phase. Plus Beta users would need to register for the Second phase and request the tokens for the second phase too.
Rewards Pool for the Beta Testers
The rewards pool for the Beta testers is 3'000 SMARTCREDIT tokens. It will be shared to the beta community members based on the:
- Number of defects reported
- Severity of defects reported
Our aim is to distribute more tokens for the high severity defects.
Enjoy the Beta!
Additional Info
- Beta application: https://beta.smartcredit.io
- Video — How to configure Beta: https://youtu.be/CTXydqsqQPY
Follow us on social media:
- Telegram: https://t.me/SmartCredit_Community
- Twitter: https://twitter.com/smartcredit_io
