As we reflect on Q1 of 2024, we recognize the significant gains our organization has made toward democratizing financial access globally with new partnerships and network upgrades. Read further to catch up on what we’ve accomplished so far in 2024.

Creditcoin

Real-World EVM Event

Creditcoin recently got an overhaul to become EVM-compatible. In pursuit of this, Creditcoin’s EVM Testnet is already live, offering users the chance to accumulate redeemable rewards for Creditcoin’s EVM Mainnet launch later in 2024. This strategic shift has positioned Creditcoin to align more closely with the broader EVM ecosystem, opening up a world of new possibilities and interoperability.

The EVM-compatible Creditcoin Mainnet allows developers to leverage Solidity-based primitives and deploy them more efficiently on Creditcoin. After downloading a wallet and signing smart contracts on the Creditcoin EVM testnet, anyone can participate and throw their hats in the ring for exciting prizes. Testnet participants have the opportunity to earn rewards, like CTC tokens, stablecoins, NFTs, and ecosystem airdrops.

To participate in the Testnet, users can simply download one of the compatible wallets and perform social tasks or interact with smart contracts on the Creditcoin EVM Testnet. Users can accumulate points based on their on-chain activities, such as transactions and smart contract interactions. Social task points are earned via the QuestN platform, and on-chain activity points are calculated separately at the end of the testnet, including cumulative interactions and frequency of on-chain activity. 

Join the Real-World EVM testnet

Testnet Bug Bounty | Earn up to $1,500!

In case you missed it, Creditcoin is offering a variety of rewards up to $1,500 in CTC (ERC-20) tokens for each bug reported. Rewards are distributed on a first-come-first-serve basis. Depending on the severity, finding and reporting bugs can be quite lucrative, and simultaneously helps us to maintain the most robust system possible. Test your mettle and see if you can spot the bugs and win yourself a prize!

Both Low and Medium severity level bugs do not lead to vulnerabilities. For example, Medium could be a stuck transaction, while Low could involve an aesthetic or UX incident. If a bug isn't exploitable, it can’t receive a grading above Medium.

For High, Critical, and Extreme bugs involving an attack vector or vulnerability, the severity is assessed using metrics from the National Vulnerability Database's CVSS. When submitting a bug report like this, please use the CVSS metrics linked here to assess the severity of your reported bug.

Learn more about the bug bounty program

CTC Listed on Korbit

Did you crush your new year’s resolution yet? 2024 has been good to Creditcoin so far. In fact, one of the OG exchanges out of Korea, Korbit, listed Creditcoin (CTC) to kick off the year. Head over to Korbit and buy/trade some CTC today.

Blockscout Explorer

Creditcoin users enjoy the open-source functionality of Blockscout, Web3’s battle-tested block explorer. Following the official launch of the brand-new Blockscout Portal on the Creditcoin Dashboard, users can access advanced analytics and validate the history of the Creditcoin blockchain by leveraging Blockcscout’s granular search toolset. Get the latest statistics on Creditcoin wallet addresses, daily transactions, average block time, gas tracker, and more. 

Gluwa

Gluwa x Central Bank of Nigeria Partnership

One of the most notable developments in Q1 was the partnership between Gluwa, the development company of Creditcoin, and the Central Bank of Nigeria (CBN) to enhance the utility and drive adoption of the eNaira Central Bank Digital Currency (CBDC). This strategic collaboration underscores Gluwa’s commitment to supporting innovative financial solutions and driving positive change in the global financial landscape.

Read the full details of the partnership

🇳🇬 Tae Oh meets Nigerian VP, Kashim Shettima

To kick off March, Gluwa announced its MoU with the Central Bank of Nigeria to drive eNaira adoption as an official CBDC Partner Agent. During Gluwa’s meeting with the VP of Nigeria, CEO Tae Oh also introduced its satellite-based ISP solution aiming to provide internet connectivity across the world, starting with remote or rural geographies.

🇬🇭 Gluwa visits Ghana VP, Mahamudu Bawumia

In addition to providing support for the development and adoption of Ghana’s CBDC, Gluwa laid the groundwork for a long-term integration with its satellite-based ISP solution as well. First off, internet connectivity is a prerequisite for individuals to access information, banking, and subsequently leverage their skills by interacting with each other and the rest of the world. 

With high-speed internet and the power of digital assets like CBDCs, Gluwa is prepared to offer an elegant yet robust infrastructure for enhanced banking and digital asset infrastructure. As millions gain access to the internet and in turn, DeFi infrastructure, a vast world of exciting business and revenue models open up which stand to close the existing digital divide. 

🇱🇷 Liberia’s President, Joseph Boakai, Meets with Gluwa

Traveling to Liberia as well, Gluwa discussed enhancements to Liberia’s financial and internet connectivity infrastructure. This also extended to strategies to address issues with poor or intermittent internet connectivity. Gluwa’s satellite-based DePIN was at the forefront of solutions proposed which would complement CBDC banking infrastructure, efficiently bringing people online and into the banking system.

RWA Product: Jenfi Investment Maturation

Jenfi, a Singaporean firm helping businesses with marketing and securing financing with partners they can trust, is off to a smashing start. Investors have earned an average 19.04% APR over the last year, accumulating collective yields of $95,200 in USDC yield to be paid out. In early February,

the Jenfi opportunity officially matured, allowing investors to withdraw their funds. Gluwa would like to extend our congratulations to everyone who participated!

Conclusion

As the rest of 2024 unravels, our organization will continue striding to optimize and expand its services. From the successful launch of Creditcoin’s EVM Chain testnet to its milestone partnership with the CBN, we've witnessed tremendous growth in public-private partnerships as well as grassroots support from our community.

Later this year, the launch of the EVM-compatible Mainnet will introduce Creditcoin’s phase of becoming the Universal Smart Contract layer of Web3.

There is still plenty of work to do, but the future looks exciting from where we're sitting. Onwards and upwards, folks! Follow our X and join our community to learn about new opportunities for builders like hackathon competitions and grant programs.