Borrower and Lender Bonus Rewards
Borrower's and lenders are receiving bonus rewards for the borrowing and lending. Cut off day is always Sunday, 12:00 UTC
​Borrower and lender weekly rewards are capped as follows:
Borrower and lender bonus reward caps
The platform allocates every week 2,885 SMARTCREDIT tokens to borrowers and lenders as bonus rewards. Reward tokens are allocated every Sunday, 12:00 UTC. Reward tokens can be claimed immediately via “My Rewards” in app.smartcredit.io.

Which parameters influence the weekly rewards?

Borrower and Lender bonus rewards in SMARTCREDIT tokens are allocated every week for full last 7 days. If borrowers loan or lenders deposit are less than 7 days old, then they will not receive rewards for the uncompleted week. However, they will receive the rewards for the following weeks. The bonus rewards per week are not fixed - the weekly rewards are variable.
The weekly SMARTCREDIT token rewards depend on several parameters:
  • How many other users are borrowing — if total borrowing volume (open loans) is more than previous week, then weekly rewards APY is smaller than previous week. And vice versa.
  • How many other users are lending — if total lending volume (total deposits into FIF's without SMARTCREDIT token) is more than previous week, then weekly rewards APY is smaller than previous week. And vice versa.
  • The cap on the borrower and lender rewards — the cap on the borrower rewards in USD is 10%–75% APY (based on open loans); the cap on the lender rewards is 10%–50% APY (based on total FIF deposits without SMARTCREDIT token)
  • The borrower/lender ratio on the platform — if there are more borrowers, lenders will receive more returns. And vice versa.
  • The number of booster tokens - if there are booster tokens and rewards APY is below the cap, then booster tokens will be used to increase the weekly rewards APY till the cap
  • The price of SMARTCREDIT token - low volume on the platform and low SMARTCREDIT price means the users are getting more SMARTCREDIT token rewards. High volume on the platform and high SMARTCREDIT price mean that the users are getting fewer SMARTCREDIT token rewards.

Reward caps and booster tokens

If the weekly rewards exceed the defined cap, then the tokens above the cap are allocated to the booster bucket. This will happen, for example, if the borrowed volume is small on the platform.
Booster tokens are allocated first to borrowers and then to lenders by the following algorithm:
  1. 1.
    If the reward tokens exceed the cap in USD value, then the tokens above the cap will be moved into the booster bucket and paid out in the following weeks
  2. 2.
    If the reward is below the gap in USD value, and there are enough booster tokens, then the cap will be filled with the booster tokens.
  3. 3.
    Otherwise, the booster tokens will be added to the reward tokens (in this case, there is a too small number of booster tokens available to fill the cap)

How to earn with SmartCredit.io?

Here are some ideas about how to earn rewards and how to use the rewards:
How to earn with borrowing?
How to earn with lending?
For more details, see:
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Which parameters influence the weekly rewards?
Reward caps and booster tokens
How to earn with SmartCredit.io?