RCN Loans — a global peer-to-peer lending protocol, based on smart contracts that connects lenders and borrowers around the world regardless of currency through RCN tokens.
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Additional information about the ETH project
RCN — a global credit protocol, based on smart contracts and blockchain technology. The platform summarizes all types of loans under the RCN protocol, not only those created by Ripio, but also fully decentralized loans with crypto assets as collateral. Lending is a core feature of the RCN dapp. This feature allows you to search for loan requests and then select loans that best suit your profile. After you click on Credit, you must sign a transaction that transfers RCN tokens to the borrower's account.
On the Loans tab, you can see your overall activity as a lender, the current status of each loan and accrued interest, the limitation date for each payment, as well as detailed information about the beneficiary. If you are eligible for compensation for a specific loan, you can also request that compensation directly from the dapp. Credits are full-fledged ERC721 tokens. Using the Transfer option on the Loan Details tab, you can transfer the ownership of the debt to the hardware wallet or “sell” the payment rights if you wish to opt out of the investment.
RCN credits will be calculated, using a combination of three different variables:
| Repayment / amortization type | Bullet "credit: only one payment (no installments). Fixed / French loan: a fixed number of installments. Variable loan: a percentage or a fixed amount of variable installments. |
| Interest rate | Fixed, variable or mixed. |
| Cancellation type | Contested or non-revocable. |
Ripio Credit Network strives to improve lending conditions for both lenders and borrowers around the world, and surpass the solutions, offered by the traditional credit system and peer-to-peer lending services.
Why RCN?
RCN improves transparency and reliability in lending. The network aims to reduce traditional lending selectivity and inherent bureaucracy, while creating solutions, provided by most peer-to-peer lending platforms by diversifying the lender's portfolio, reducing default risks and increasing its potential.
Additional information about the ETH project
At the moment, the site does not have White Paper and RoadMap. However, you can get more detailed information about the project through the blog on the Medium platform. The developers publish articles and various news, related to the project, regularly.
From social networks, the community leads:
Subscribe to social networks to stay up to date with all updates, communicate with other users and ask your questions. The audit of the smart contract can be checked on the GitHub site.