In this months Q&A we discuss CTC merge timings, what’s happening to older NFTs, whether the Creditcoin Foundation stakes CTC, and more.
Welcome to this months Q&A, where we answer RWA questions submitted by the community. It’s a slightly quieter month this time folks, but fret not, as we have a huge range of questions we’ll be addressing in our bumper Q&A recording with Tae, which will be dropping some time in May!
In the meantime, make sure you join the Creditcoin Discord today to get your questions answered next time…
1. It seems like some previously announced features have been delayed, making new investors hesitate. Last year, the following features were announced, could you please update us on the new release schedule for these?
- Credit payments being made directly viewable in the Block Explorer
- GATE token usage and the GatewayDAO deployment
- NFT utility features and profile pictures.
We’re aware that some of our development priorities have changed over time, which may at times, disappoint some members of the community.
Please know that we are continuously listening to your feedback. Most importantly, we’re aware internally of the need to deliver features which improve our user experience, aka ‘usability’.
In other words, focusing our resources on delivering features which the community can get excited about and actually use! This is 100% our primary focus for this year and beyond.
To address the specific points you raise:
- The Block Explorer update, as well as other improvements, remains a development priority. However, the architectural shifts coming with 2.0+ mean that the Block Explorer will only be updated after 2.0+ is released. This is to avoid unnecessary duplication of development resources.
- GATE is being wrapped into 3.0. Ultimately 3.0 is intended to simplify customer experience when using multi-chain protocols, a similar overarching objective to the GatewayDAO, as well as delivering several new features focused on RWA investment.
- This is coming. We’ll share more once the details are finalized.
2. When will the GATE → CTC conversion take place and at what ratio?
The GATE → CTC conversion will take place as part of the Creditcoin 3.0 upgrade, with a swap ratio of 2:1.
3. You recently launched the Credit Penguin Colony Collection, in addition to already having a line of previous NFTs (e.g. Cactus and Cherry Blossom). When will you announce utility features for these NFT collections, and will there be different benefits for the different NFT collections?
The planned utility features of Credit Penguin Colony NFT haven’t been finalized at this stage. However, you can expect features such as exclusive community spaces, events etc. Again, we’ll share more details once any potential features have been finalized.
In the meantime, we plan to hold special events exclusively for old NFT holders in the run up to the Credit Penguin release, including special access to Credit Penguin whitelist spots and more.
4. Will the Mainnet and ERC-20 CTC tokens be merged when Creditcoin 3.0 is released?
Yes, Mainnet CTC and ERC-20 CTC (G-CRE) is being merged as part of the long-term roadmap for Creditcoin 3.0. However, it’s important to note that this will be an optional merge, with users able to burn their ERC-20 G-CRE for an equivalent amount of CTC tokens on the mainnet.
Completing the token merge may take some time, as we’ll need to work with various exchanges to add mainnet CTC listing support following the upgrade to 3.0.
5. Does/will Gluwa or the Creditcoin Foundation participate in CTC staking?
The Creditcoin Foundation does currently engage in CTC (GTD) staking. The Creditcoin Foundation and/or Gluwa will also partake in staking following the launch of Creditcoin 2.0+.
In both cases, the Creditcoin Foundation participates in staking as part of its overarching objective to ensure the stability and security of the Creditcoin Network.
That’s it for this month folks, we hope you enjoyed the Q&A! And remember, there’ll be lots of juicy community questions content coming when Tae’s Q&A drops next month. Until then…
Hasta la vista people✌️
Creditcoin is a foundational L1 blockchain designed to match and record credit transactions, creating a public ledger of credit history and loan performance and paving the way for a new generation of interoperable cross-chain credit markets.
By working with technology partners, fintech lenders such as Aella, and other financial institutions across global emerging markets, Creditcoin is securing capital financing, building credit history and facilitating trust for millions of underserved financial customers and businesses based on the principles of Real World Assets (RWAs).
Gluwa is an Real World Assets (RWAs) platform, connecting global capital to emerging market lending and investment opportunities through blockchain technology, and empowering users with the choice and information they need to prosper.