Blockchain

CTC Token 101: Everything You Need to Know

Discover how the CTC token powers the Creditcoin protocol, how to stake your CTC, and the two different versions of CTC... all in this blog!

Creditcoin Team

Aug 29, 2023 • 4 min read

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, 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 for tokens on the Creditcoin blockchain, used to facilitate real-world credit transactions, power dApps, and build verifiable credit histories on a public, immutable ledger. Available on both the Creditcoin and Ethereum networks, CTC powers essential functions like paying gas fees, interacting with smart contracts, and staking.

Here, we’ll explain everything you need to know about these tokens, why they’re essential to the ecosystem, and how you can get them.

Creditcoin Tokens

Aside from Creditcoin Network, CTC exists on Ethereum as well, with each possessing specific capabilities:

Creditcoin Network

CTC (Native) – This token is used on the Substrate-based blockchain of Creditcoin. It's used for staking activities.
CTC – This version is EVM-compatible. It enables DeFi and smart contract interactions.

Ethereum Network

G-CRE (ERC-20) is available for trading on centralized and decentralized exchanges.
wCTC (ERC-20) is available on Uniswap, allowing CTC token holders to leverage multi-chain opportunities.

You can swap between the Ethereum and Creditcoin networks using the SwapCTC tool.

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 CTC (Native) rewards by participating in Network security, either as a Validator or Nominator. In other words, by staking your 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 get CTC on the Creditcoin Network, you first need to acquire CTC on the Ethereum network. You can do this through a centralized exchange (CEX) or Uniswap. Once you have it, use SwapCTC to bridge your tokens to the Creditcoin Network.

There are two primary methods to obtain CTC on Ethereum:

Purchase G-CRE from Centralized Exchanges

You can purchase G-CRE from a DEX or centralized exchange, but note that the ticker symbol for trading pairs is CTC when searching for pairs on CEXs.

We recommend using Uniswap to acquire G-CRE.
You can create an account with several major exchanges, then follow the platform’s instructions to purchase CTC and/or withdraw them. Note that when withdrawing CTC from centralized exchanges, it will be G-CRE on the Ethereum network:
See full list here

Get Started on the Creditcoin Network Today

CTC tokens on the Creditcoin network are the heart of the ecosystem. Connecting users to secure, decentralized credit systems and DeFi applications. With uses ranging from staking and governance to cross-chain DeFi, understanding the different features of CTC tokens empowers you to maximize your participation and benefits.

About Creditcoin

Creditcoin is a Layer 1 blockchain built to support developers in creating innovative applications that connect digital assets with real-world infrastructure and services, such as RWAs and DePIN.

Its Universal Smart Contract technology allows protocols to interact with data and assets across multiple blockchains easily, without the need for bridges. This makes Creditcoin a flexible foundation for complex, multi-chain projects.

Additionally, its focus on verifiable credit histories helps bridge traditional finance with decentralized systems, enabling users and protocols to build transparent credit profiles, access capital, and explore new opportunities in the digital economy.