Updated Token Utility

Published in

SmartCredit.io

5 min readNov 3, 2023

We now have two websites, six products, and one token—SMARTCREDIT. It's time to update our token utility!

We had only one website—SmartCredit.io—until the beginning of 2023. In spring 2023, we launched our Release 1.3 rollout and our spin-off, ChainAware.ai!

Both projects, SmartCredit.io and ChainAware.ai, share the same SMARTCREDIT token and its utility. This creates unique leverage, as two projects are leveraging the utility of the same token.

Why is this important?

Because most of Web3 projects follow the pattern “One product — one token”. This means the token holders holders are very exposed to a risk of one specific product.

But we have:

two websites (https://chainaware.ai and https://smartcredit.io)
six products
one token (SMARTCREDIT)

Our products in SmartCredit.io are:

fixed-term, fixed-interest-rate borrow/lend
DeFi Fixed Income Funds (see details in the https://learn.smartcredit.io/fixed-term-fixed-rate-borrowing-lending ) and
Fixed Rate Leveraged Lideo staking (in Beta)

Our products in ChainAware.ai are:

AI-based Crypto Fraud Detection and Wallet Auditor (https://learn.smartcredit.io/ai-based-crypto-fraud-detection-for-everyone)
AI-based Crypto User Segmentation for 1:1 Marketing, 1:1 User Targeting (https://learn.smartcredit.io/big-data-based-user-segmentation-for-revenue-generation))
AI-based Crypto Credit Score (https://learn.smartcredit.io/ai-based-crypto-credit-score)

Thats the key difference for our token holders — SMARTCREDIT is an token for an ecosystem — for the ecosystem of Decentral Autonomous Bank. Here is our vision: https://learn.smartcredit.io/ai-driven-decentral-autonomous-bank

Having two products on one token calls for update of our token utility.

Business Models

SmartCredit.io earns 0.5% from the loan volume. Both borrowers and lenders get the rewards too. NB! For the borrowers — SmartCredit.io does not earn on liquidations like Aave, Compound or Maker. Instead of this we offer Positions Monitoring System to monitor your borrow positions via telegram.

Here is the overview of the revenues via Dune: https://dune.com/smartcredit/smartcredit

ChainAware.ai is an API tool. There is user interface too, but main advantage is from the API integrations. ChainAware.ai has several AI-based products and is available in the subscription mode.

For Crypto Fraud Detection:

Every user can do 20 free calls per month
SMARTCREDIT holders can do 100 free calls per month
Business Subscription allows 3000 calls per month
Enterprise Subscription allows un-limited number of calls

For Crypto User Segmentation:

Crypto User Segmentation is available in the subscription mode

More infos about the pricing is in the https://chainaware.ai/pricing

SMARTCREDIT Token Utility till now

Token Utility till now has been (summarized):

For the borrowers:

Can be used as a collateral for borrowing
Borrowers earn weekly rewards in SMARTCREDIT token
Borrowers can improve their borrowing conditions when staking SMARTCREDIT

For the lenders:

Lenders earn lending rewards in SMARTCREDIT token

For the stakers:

Stakers earn weekly rewards in SMARTCREDIT token

For the affiliates:

Affiliates earn weekly rewards in SMARTCREDIT token

SMARTCREDIT additional Token Utility

Launch of ChainAware.ai adds additional utility to the token:

all payments in ChainAware.ai can be done with SMARTCREDIT only
these payments are transferred to the same address with SmartCredit.io payments
the subscribes have to buy SMARTCREDIT and the funds accumulate into the Uniswap liquidity

Crypto Fraud Detection

SMARTCREDIT holders will get 100 free calls per month
Business subscription (currently 399 USD/month) will get 3000 calls per month
Enterprise subscription (currently 999 USD/month) will get unlimited calls per month

Crypto User Segmentation

Crypto User Segmentation is available in the Enterprise Subscription only and costs 999 USD/month
It allows 1:1 Crypto Users Targeting / 1:1 Crypto Users Marketing

The demand for ChainAware.ai products increases the demand for SMARTCREDIT tokens.

SMARTCREDIT tokens can be bought either over the Uniswap or Bittrex. The liquidity from buying transactions accumulates either in Uniswap or Bittrex. The increasing liquidity will have a positive effect on the token price.