🌠How DecentraCredit Works

• DecentraCredit is simply a marketplace where Lenders and Borrowers meet each other and seal the deal with minimal assistance from the platform.

• The only other prominent function of DecentraCredit is the Escrow Services that it provides to keep a trust-less system running safely.

DecentraCredit works simply like a marketplace because, at the core, it is nothing but a marketplace.

Users can choose from all the lenders who are offering crypto loans against different terms and conditions and can choose the lender who fulfils their preferred conditions the closest. For example, let's say a user wants to borrow USDT against BTC and wants to pay an interest rate below 5% annually. Moreover, he wants a high liquidation factor, such as 95%.

There might be 5 different lenders who offer USDT against a BTC collateral. However, they all have different rates of interest and also have mentioned different Liquidation Ratio, ranging from 80% up to 95%.

Now the user can tally all these lenders and their terms and conditions and choose a lender who matches his preferences the closest. For example, he might choose a lender who is offering USDT against BTC collateral, at a 4% interest rate and has a liquidation ratio of 90%.

While this is not exactly what he was looking for, this is the closest the marketplace has to offer him. Do you realise the freedom the borrowers and lenders have in this system? A truly decentralised p2p lending system with the dapp working just as a meeting place.