BitClout is a blockchain-based social network that lets you speculate on people with real money via “Creator Coins”. The CRD Network has built an integrated system with BitClout to offer better functionality to Creator Coins and related markets by offering banking services and financial instruments that utilize those assets as collateral.
The CRD Network’s integration with BitClout allows fans and creators to be able to buy and sell Creator Coins directly with their normal bank account, or credit card. Chief among our neobanking utilities is for Creator Coin holders to take loans by using those assets as collateral, and thereby sidestep some of the major restrictions regarding Bitclout as a platform.
As when Influencers liquidate their own Creator Coin holdings, users investing in their coin are notified of this transaction. In other words, without our help, the capital associated with these Creator Coins is effectively tied up, given that any rapid divestment could collapse the price.
The primary thing we want to do is to broaden the utility of Creator Coins and their ability to create capital and opportunities. To that end, the CRD Network allows creators to airdrop NFT Fragments to their fans to increase interest in their Creator Coins. As such, if they are working on a project, they can give a date by which they will distribute the NFTs proportionally to people’s Creator Coin holdings, and thereby increase their Coins’ value through increased demand.
Our platform integration with BitClout also seeks to utilize our expertise in the DeFi space. Hence we are looking to create a Creator Coin liquidity pool; you can hence deposit your Creator Coins and earn daily yields for your stake. These liquidity pools will be used to enable the creation and execution of various financial instruments, such as short sales.
In addition, the CRD Network credit cards offer cashback rewards in Creator Coins, CRD Tokens, or even fiat.
Ultimately, we want to make the best of this evolving technology and enable users and creators to exercise their creativity, and thereby make the world a better place.