CTC Token 101: Everything You Need to Know

If you made it here, it’s almost certain that you’re at least somewhat familiar with the CTC token. Like most decentralized blockchains, the Creditcoin Network also uses a token to process transactions and incentivize network participants. But there’s actually more to CTC than meets the eye.

For example, did you know there’s a difference between CTC (Native), CTC (EVM), G-CRE, and wCTC? If not, you’ll need to pay close attention to this article. Indeed, we’ll explain everything you need to know about the present and future of the Creditcoin tokens - right here, right now.

Why does Creditcoin use a token?

The Creditcoin token (CTC) is the power behind the throne, incentivizing network participants, powering real-world transactions, and underpinning the security of the network. But why do blockchains even need tokens?

Decentralized networks need a way to coordinate the behavior of multiple different stakeholders to achieve the network’s overall objectives. Creditcoin has two main stakeholders: infrastructure users (fintech lenders and borrowers) and network participants (stakers in our case).

Blockchain tokens exist as the glue holding its parties together. Stakers provide a service (network maintenance) and in return, get paid in the network’s native tokens (in our case, CTC). Users benefit from using the network, so they need to buy and expend CTC tokens to access the network’s services. This creates a harmonious balance between token supply and demand.

Tokens also play a vital role in keeping a blockchain network secure. By creating economic incentives for good behavior, and inversely, burning staker’s tokens for dishonest behavior, tokens ensure that a network’s participants do as they’re supposed to.

With that brief token explainer completed, let’s now dive into the specifics of the CTC token powering the Creditcoin network.

What is CTC?

CTC is the general ticker used for the tokens operating from the Creditcoin blockchain, designed to facilitate real-world credit transactions and history-building on a public, immutable ledger. The Creditcoin network provides a bridge between traditional lending markets and the digital asset world, giving users access to robust credit facilities without intermediaries.

Creditcoin’s tokens are available on two blockchains: Creditcoin and Ethereum. Here, we’ll explain everything you need to know about these tokens, why they’re essential to the ecosystem, and how they enable different functions like paying gas fees, interacting with smart contracts, and staking on the network.

Creditcoin Tokens

There are two Mainnet versions of the CTC token, denoted by the environments for which they’re intended to operate:

1. Mainnet CTC (Native) – This token is used on the Creditcoin Native chain, which is the Substrate-based blockchain of Creditcoin. It's used for staking activities, becoming a validator, or nominating validators.
2. Mainnet CTC (EVM) – This version is compatible with Creditcoin’s EVM-compatible smart contracts and interacting with DeFi applications compatible with the Ethereum Virtual Machine.

You can swap between these two tokens, along with wrapped CTC (wCTC), using the SwapCTC tool.

Ethereum Tokens

There are two Ethereum tokens which have distinct tickers as well:

G-CRE: This is the ERC-20 version of Creditcoin, which can be found and traded on centralized or decentralized exchanges.

wCTC: A wrapped Creditcoin token available with limited liquidity on Uniswap. Note that this token is not available on centralized exchanges.

What Can Each Creditcoin Token Do?

The Creditcoin tokens serve a multi-purpose dual functionality within the Creditcoin ecosystem, enabling a variety of features. Here are the main functions for each:

• Smart Contracts: Creditcoin supports EVM-compatible smart contracts, allowing developers to build decentralized applications (dApps) on Creditcoin or to interact with other DeFi protocols using Mainnet CTC (EVM). This opens up opportunities for users to create, execute, and interact with contracts that facilitate lending, credit tracking, and more.
• Gas Fees: Transactions on the Creditcoin network require gas fees, which may be paid with Mainnet CTC (Native) when staking or swapping from Native network, but would usually be paid in Mainnet CTC (EVM) for EVM-based smart contract interactions.
• Staking: Users can stake Mainnet CTC (Native) to support the Creditcoin blockchain, securing the network through a Nominated Proof-of-Stake (NPoS) consensus mechanism. By staking, users contribute to decentralization and are incentivized with rewards, supporting individual and ecosystem-wide benefits.
• DeFi: With Mainnet CTC (EVM), users can directly access EVM-compatible DeFi applications from the Creditcoin ecosystem. This compatibility allows CTC holders to engage in DeFi activities like lending, borrowing, yield farming, and staking in liquidity pools on the EVM network.

How can I stake tokens and earn CTC (Native)?

The 2.0+ transformed Creditcoin and radically improve the stability, security and performance of the Network by transitioning the RWA protocol from PoW to NPoS. Whilst this doesn’t affect the core function or utility of either CTC token, it does change how users can acquire new CTC (Native) tokens.

Following the 2.0+ upgrade, users can now earn Mainnet CTC (Native) rewards by participating in Network security, either as a Validator or Nominator. In other words, by staking your Mainnet CTC (Native) tokens, you can earn even more tokens. The easiest way to start staking is by joining the Network as a Nominator.

How Do I Acquire Creditcoin Tokens?

Eager to get involved with Creditcoin's ecosystem? To participate in governance, staking, or any upcoming features that require CTC (Native) or CTC (EVM) tokens, you’ll more than likely acquire G-CRE first from a centralized exchange, or by swapping ETH or a stablecoin to G-CRE.

There are two primary methods to obtain G-CRE:

1. Participate in Creditcoin EventsCreditcoin frequently hosts community events where tokens are distributed as rewards! Make sure you have Credit Wallet, and then keep an eye on announcements to get tokens directly through engagement.
2. Purchase G-CRE from Centralized ExchangesG-CRE is available on several CEXs. Simply create an account on one of the following platforms and deposit funds. Then, search for CTC pairs and follow the platform’s instructions to complete your purchase.

Exchanges Currently Supporting G-CRE:

• HTX: https://www.htx.com/trade/ctc_usdt/
• Upbit: https://upbit.com/exchange?code=CRIX.UPBIT.KRW-CTC
• OKX: https://www.okx.com/trade-spot/ctc-usdt?channelid=1902090
• LBank: https://www.lbank.com/trade/ctc_usdt
• Bybit: https://www.bybit.com/en/trade/spot/CTC/USDT
• And more…

SwapCTC: We've temporarily disabled our user-friendly swap interface that allows for direct swaps to and from G-CRE to CTC (EVM), CTC (Native), and wCTC. Stay tuned for updates on when this tool will become available again!

Get Started on the Creditcoin Network Today

Mainnet CTC tokens are the driving force behind the Creditcoin network, connecting users to secure, decentralized credit systems and DeFi applications. With uses ranging from staking, governance, or cross-chain DeFi, understanding the distinguishing features of Mainnet CTC tokens empowers you to maximize your participation and benefits within the Creditcoin ecosystem.

About Creditcoin

Creditcoin is the world’s leading real-world asset infrastructure chain for financial institutions, connecting global borrowers, lenders and investors on-chain. To date, the protocol has helped its partners record over 4.27 million real-world credit transactions, valued at $79.7 million USD, while servicing 337,000 customers worldwide across emerging markets.

By transparently securing credit history and loan performance on the Credicoin network, the protocol has already helped thousands of borrowers, businesses, and investors secure capital financing, build credit history, and grow their global RWA investment footprint.

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