Thread by @Rentahomefast

🧵 time
Creditum $credit what the pants is it

2/well if you guys don’t remember the history of FTM and FUSD it was basically one of those things that would’ve been nice to have a native stable coin on FTM. The stable coin was able to be minted against staked FTM

3/this was important because when you are staking your FTM tokens you cannot do anything with them but stake your steak to earn chicken. With FUSD you would be able to meant against your staked FTM so you can get the best of both worlds

4/Play around in defi and support the network

5/Now creditum is from the same team that was working on trying to bring FUSD to peg

6/ The team as well-versed in the FTM ecosystem and are one of the best devs on FTM……you know the ones that actually do something

7/Now creditum is cool Because you are able to meant stable coins against regular assets like maker dao and yield bearing assets like @QiDaoProtocol and @MIM_Spell. This is important because this is where self repaying loans are born

8/ And yes there is such a thing your yield pays off your debt and you basically get a bunch of free money kind of cool if you ask me

9/So now this is important to have a stable coin like this on FTM because the only other coins we have are Usdc (centralized) dai(a Usdc wrapper) fusdt (don’t get me started) fusd(not on peg) mim/Mai/Frax (these are cool but not specifically for ftm and not as deep if liquidity

10/ Now with creditum being that it’s specifically on FTM it can focus all of its liquidity incentives on FTM in order to create deeper liquidity for the CUSD stable coin

11/Not to mention it has one of the highest stable coin yields on FTM right now

11b/so what backs the stable coin….. well the assets you deposit on CUSD are the collateral. This is a overcollateralized stable coin

12/ there are rumors of a VE model for the credit token. Which you know is good for creating that flywheel

13/The best part about it is if you want to get credit you don’t have to buy it you can simply farm it

14/so to sum it up having a native stable coin to FTM with deep liquidity that is capable of having self repaying loans. Need I say more

15/ now what are the risks. Well CUSD has a chance of going off Peg(now if that’s the case that would mean people get a bunch of free money if they borrow cusd and swap to another stable)(it’s free because if CUSD goes to zero that means their debt is zero)(not likely……

16/Because the assets are backed by collateral.) If there is a liquidation event there are bots and oracles in place to liquidate positions to keep CUSD properly backed

17/Another risk would be the credit token goes to zero(this is definitely a chance but if you’re farming the coin who cares) (do I think it’s going to zero well I wouldn’t be farming it if I did 😉)

18/ here is a video that talks about how creditum works it starts around the 20 min Mark 🚀FTM Ecosystem overview......Major catalysts for FTM 🚀

If you enjoy this thread feel free to share for someone who needs to know about creditum

https://twitter.com/rentahomefast/status/1488223633856159747