Frequently Asked Questions

Do you have short tutorial videos?

Yes, here they are:

Where can I buy SmartCredit.io tokens?

You can now buy SMARTCREDIT tokens in Bittrex, Loopring, UniSwap, and Bancor. See the section "Exchange Listings".

Which platforms does SmartCredit.io support?

You can use SmartCredit.io on desktop, tablet, and mobile by connecting your wallet to the application through WalletConnect.

Which wallets does SmartCredit.io support?

SmartCredit.io has native support for MetaMask wallet, and WalletConnect supported wallets, including Ledger, Ledger Live, Trust, 1inch Wallet, Eidoo, Loopring Wallet, Coinomi, Bridge Wallet, etc.

What are the platform fees?

Borrowers have to pay a 0.5% platform fee that is added to the interest rate.

Lenders have no platform fees. There are small fees when using the Compound to invest in the "bucket 0" of your personal Fixed Income Fund. (to cover the gas costs).

See more in the "Revenue model".

I am having trouble with using some SmartCredit.io features!

Make sure you have connected your wallet (check the wallet status in the top right corner of the screen, next to account information). If you are connected, make sure you are on the Ethereum Mainnet Network.

If you still cannot use SmartCredit.io features, submit a support ticket or write to us at support@smartcredit.io.

My transaction is stuck pending confirmation!

Did you input a low gas price or add less gas than recommended? If yes, you can try to boost or cancel the transaction on MetaMask.

Otherwise, you will have to wait until the transaction either finishes or fails.

I found a bug; what should I do?

Submit a support ticket or write an e-mail to support@smartcredit.io.

I have an idea that would improve the platform!

If you have a suggestion that you think would improve SmartCredit.io, submit a support ticket or write an e-mail to support@smartcredit.io. Alternatively, join the SmartCredit.io Community on Telegram to discuss your ideas with the community.

How can I test SmartCredit.io without using real assets?

We have a beta test program; if you are interested in joining, please send an e-mail to support@smartcredit.io.

How do I create a Fixed Income Fund?

Click 'Invest with FIF' on the menu to create a Fixed Income Fund. You have to choose the currency for the FIF (you cannot change this later) and distribute the funds into allocations for different loan maturities (you can change this later).

You can deposit funds in the FIF dashboard (go to My FIFs and click your FIF) after you have created a FIF.

How do I deposit funds in a Fixed Income Fund?

To deposit funds, go to the FIFs page, click the FIF you want to deposit in, and click the 'Add Funds' button in the top right corner of the FIF dashboard.

Which currencies do Fixed Income Funds support?

As of version 1.2, FIFs support ETH, DAI, USDC, USDT, and SMARTCREDIT. See details in the section "Fixed Income Funds".

Is there a minimum or maximum amount I can deposit in a Fixed Income Fund?

There is no minimum or maximum amount for a FIF deposit.

For the "bucket 0" (invested in the Compound), there is a minimum of 0.5 ETH or 500 DAI, USDC, and USDT.

There is no maximum amount for a FIF deposit.

Where are my Fixed Income Funds invested?

FIFs invest funds from the "bucket 0" 0-10 Days into the Compound.

Funds from buckets 1, 2, and 3 (11-30, 31-90, and 91-180 days) are invested into Fixed Term Loans.

How much will I earn from a Fixed Income Fund?

Each FIF's Annual Percentage Yield (APY) represents the estimated percentage of how much you can earn from a FIF annually.

APY varies based on your FIF configuration.

Can I change the currency of an existing Fixed Income Fund?

No, you cannot change the currency after you create a FIF.

How to change the fund allocation of an existing Fixed Income Fund?

Open the FIF and click the 'Adjust Allocations' button. Adjust the fund allocations and click confirm. You should see the new allocations once the transaction is completed.

What happens when I terminate a Fixed Income Fund?

When you terminate a FIF, the investments will discontinue.

Funds from the Compound are immediately returned to you and are available for withdrawal. The existing fixed-term loans continue running until the borrowers repay.

Can I delete my Fixed Income Fund?

Currently, that is not possible. You can terminate your FIF and withdraw the funds, which will make the FIF inactive.

How do I withdraw funds from a Fixed Income Fund?

On the FIF page, click the 'Withdraw' button. You can withdraw only available funds. If your FIF has active loans, you will have to wait until borrowers repay these loans.

I withdrew funds from a Fixed Income Fund, but there are still funds invested!

You can withdraw only funds that are currently not invested (available funds). You'll have to wait for the active loans to finish before you can withdraw them.

My Fixed Income Fund is not investing funds!

SmartCredit.io uses a fair matching system for matching FIFs with loan requests, so if your FIF is active and it has available funds, the funds will get invested.

How do I create a Loan Request?

To create a loan request, simply go to Borrow and fill out the form. After clicking 'Create Loan Request', you will have to complete a transaction to create a Credit Line. See more in the section "Credit Lines".

Once the transaction is completed and your Credit Line is created, you have to sign the loan request details (this doesn't cost you any ETH), and the loan will be created. You can create multiple loans in the same Credit Line without having to pay any transaction fees!

After you transfer the minimum collateral required, your loan will get matched to and funded by a Fixed Income Fund.

Which tokens can I use as collateral for a Loan Request?

See the section "Collaterals" for further info.

How do I deposit collateral to a Loan Request?

You have to go to the Loan Request page, determine the amount you want to deposit, click 'Transfer Collateral' and confirm the Metamask transaction.

Another way to transfer collateral is by going to the Credit Line page, clicking the collateral you want to deposit (click 'Show All' to see all available collaterals for that Credit Line) and picking the amount you want to deposit.

You can deposit more collateral than required by a loan to either fund more loans or transfer to an existing loan later if that loan is at risk of liquidation.

Which currencies can I borrow?

Currently, you can borrow ETH, FRAX, DAI, SMARTCREDIT, USDC, and USDT.

How to repay a loan?

To pay back a loan, go to the loan page and press Repay button. After completing the MetaMask transaction, the loan is repaid.

I cannot see my Loan Requests!

You should verify first that you are connected to the application with your wallet and that the Credit Line has been created (check the transaction status in block explorer).

If you still are unable to see your loans, submit a support ticket or contact support@smartcredit.io.

What is a trust rating?

The trust rating is your credit score. A higher trust score means less interest rate and less collateral ratio. And vice versa. See details in the section "Trust Score".

How do I improve my trust rating?

You can improve your trust rating by completing the psychometric test and connecting your SmartCredit.io account to your social media accounts.

I made a mistake when creating a loan request, and I want to delete it!

You can only terminate a Loan Request if it has not been funded yet.

To terminate the Loan Request, go to the loan request page and click 'Terminate Loan'

My Loan Request is not being funded!

Make sure you have enough collateral deposited. If your loan has enough collateral available and it is matching, wait for at least half an hour for it to be matched.

If that does not happen, submit a support ticket or write to us at support@smartcredit.io.

Further info

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