Webtransfer
Decentralized Credit Network
White Paper
1. Introduction: From Centralization to Decentralization
– Advantages of Blockchain and DeFi
– Goals and Objectives of Webtransfer
2. Market Overview and Competitive Landscape
– Existing Models of DeFi Lending
– Webtransfer Uniqueness: P2P Interaction and Social Integration
– The Role of Credit Unions in Unsecured Loans
3. Types of P2P Loans
– Secured and Unsecured
– Specialized Loan Types
4. Concept of Liquidity Credit Pools
– Liquidity Credit Pools: Types and Returns
– Risk Management and Investments
5. Credit Certificates (LP NFT Tokens)
– Functions and Rights of Holders
– Usage and Trading
6. Credit Scoring and Risk Management
– Social Rating and Data Analysis
– Adaptive Lending Conditions
– Guarantor Rating
7. Webtransfer Insurance Pool
– Purpose and Mechanism
– Levels of Insurance and Compensation
– Management and Investment
8. Credit Unions in Webtransfer
– Structure and Legal Status
– Advantages and Joining
9. Webtransfer Affiliate Program
– Role and Preferences of Partners
– Formation of Credit Unions
10. Governance with WEB Token
– Role and Distribution of Tokens
– Participation in Governance
11. Technological Infrastructure
– Technologies and Smart Contracts
– Audit and Bug Bounty
12. Roadmap
– Plans for 2024-2025
– Long-term Prospects
13. Conclusion
– The Role of Webtransfer in the Development of P2P Lending
– Decentralized Management and the Future
1. Introduction: From Centralization to Decentralization
Webtransfer is one of the first and largest social lending platforms, which had up to 10 million participants worldwide from 2013 to 2017. Initially operating on a centralized model using VISA debit cards for P2P lending, the platform faced limitations such as a lack of transparency and high dependence on intermediaries.
In response to these challenges, Webtransfer made the decision to transform into a decentralized platform based on blockchain technologies and smart contracts. This eliminates the need for centralized intermediaries and improves the security, transparency, and resilience of the platform.
A feature of the new model is the introduction of credit unions, which allow participants to come together for collective funding and risk management. These unions form the very decentralized network of Webtransfer, providing participants access to a wide range of lending opportunities, as well as the issuance of debit and credit cards.
Webtransfer plans to integrate innovative DeFi tools, including liquidity credit pools and credit certificates — non-fungible tokens (NFTs), to create a unique model of P2P lending. This model combines social connections with cutting-edge financial instruments, making the lending process more accessible, secure, and profitable for all participants.
Goals and Objectives of the Project
The main goal of Webtransfer is to improve the accessibility of financial services worldwide, especially for those who are outside the reach of traditional banking systems. Our target audience is people who do not have access to traditional banking services, as well as those looking for alternative, more transparent, and profitable lending and investment options.
The project sets the following key tasks:
– Democratization of finance: lowering the entry threshold for small investors and borrowers, facilitating access to loans and investment opportunities regardless of location, social status, and other factors.
– Creating a safe and transparent ecosystem: using blockchain technology and open protocols to ensure maximum transaction security, data immutability, and transparency in interactions between participants.
– Social integration and mutual aid: promoting the creation of strong social bonds among users based on common financial interests; stimulating a culture of mutual help, support, and collaboration in addressing financial issues.
Webtransfer aspires not only for financial innovations but also for positive social changes, making the world of lending more accessible, safe, fair, and inclusive for everyone, regardless of geography and status.
2. Market Overview and Competitive Landscape
In the field of decentralized finance (DeFi), there are several major projects offering solutions for cryptocurrency lending, such as Compound, MakerDAO, and Aave. These platforms focus on collateral-based lending, where loans are secured by other crypto assets, and use blockchain technology to automate transactions using smart contracts, ensuring transparency and security.
In contrast, Webtransfer not only supports similar collateral-based lending but also significantly expands its capabilities by integrating these financial mechanisms within a social network framework. Such integration allows for the creation of a governance model based on broad participation, where community members actively participate in decision-making through voting and receive support from insurance pools in the form of insured loans.
Credit unions play a key role in this process, allowing members to pool resources for financing loans within the community, making unsecured loans safer and more likely to be repaid, especially if the borrower is a member of the corresponding credit union. This unique combination supports a broader range of credit operations and fosters the development of a community-based approach to funding.
These capabilities distinguish Webtransfer in the DeFi space, where direct peer-to-peer (P2P) interaction without intermediaries is still rare. This approach not only increases the efficiency of risk management through the diversification of lending options but also promotes more active community involvement in management, making Webtransfer a pioneer in combining social interaction with financial technologies. This unique position may serve as a solid foundation for future growth and success of the project.
3. Types of P2P Loans
The maximum amount for a single loan within the Webtransfer network is capped at an equivalent of $1,000 USD, expressed in stablecoins such as USDT, USDC, and others supported by the platform. This limit has been set to minimize the risks to creditors, given the absence of traditional borrower verification. The maximum loan term is 30 days.
Webtransfer offers two main types of loans: secured and unsecured, with the possibility to choose additional conditions for each:
Secured Loans
These loans are issued against the collateral of cryptocurrencies, stablecoins, NFTs, and other digital assets. The collateral minimizes the risks for creditors and allows offering lower interest rates to borrowers. Depending on the terms, the collateral can exceed the loan amount by 150-200%. An example might be a situation where a borrower uses their crypto assets to obtain funding for business projects.
Unsecured Loans
These are issued based on the borrower’s social credit rating without physical collateral. These loans carry greater risk for creditors, which is reflected in higher interest rates. An example might be an education loan for a student with a high social rating.
More details about the social credit scoring system and its role in evaluating borrowers can be found in the section “Credit Scoring and Risk Management”.
Specialized Loan Types:
Secure Loans
This is a type of secured credit where, in addition to standard collateral, there is additional insurance from the insurance pool. This insurance pool is necessary to minimize risks in case the value of the collateral asset sharply decreases or if there are legal and operational issues in its realization. It also helps cover liquidation expenses and moral hazard. An example is financing a startup, where potential losses are partially covered by the insurance pool.
Direct Loans
Direct loans can be either secured or unsecured and do not involve additional insurance measures. These loans offer flexibility in choosing terms directly dependent on assessed risks. An example might be a short-term loan for purchasing and subsequent resale of goods for profit.
Interest rates on loans are formed based on a number of factors, including the type of loan, amount, term, borrower’s social credit rating, and current market conditions.
In summary, Webtransfer offers a limited number of basic types of loans, but each can be adapted to specific borrower needs and market conditions, ensuring the necessary variety and flexibility in financial operations.
4. Credit Liquidity Pools
At the heart of Webtransfer’s decentralized credit network lie credit liquidity pools — smart contracts that pool cryptocurrency funds provided by participants to finance P2P loans. Pools vary in the type of collateral accepted and the associated level of risk:
- Secured pools: Loans are issued against the collateral of cryptocurrencies, stablecoins, NFTs, and other digital assets. The lower risk level and interest rates make these pools more attractive for creditors looking for more stable and secure investments.
- Unsecured pools: Loans are issued based on the social credit scoring of participants without tangible collateral. The increased risk is accompanied by higher rates, which can offer higher returns for creditors willing to take on this risk.
- Mixed pools: A combination of secured and unsecured loans with varying risk and return ratios. Mixed pools allow participants to diversify their investments within a single pool, balancing between risk and potential profit.
Participants in the credit pool receive interest from the loans issued, proportional to their contributed share of liquidity.
Mechanism for Pool Yield Formation
The profitability of credit liquidity pools in Webtransfer is determined by the dynamics of supply and demand on the platform. Interest rates on loans are adjusted in real time, reflecting the current balance between borrower needs and creditor willingness to provide funds. This creates a natural regulation mechanism that promotes optimal resource allocation and provides competitive conditions for all network participants.
Participants have the opportunity to choose pools with different levels of risk and potential return, allowing them to individually tailor their investment portfolio according to their preferences and financial goals. Thus, participants are not only able to manage their investments but also actively influence their potential profit by choosing between more conservative or risky lending strategies.
Additionally, the platform provides tools and analytics to assess the current market situation, helping participants make informed decisions and optimize their return while managing risks.
These mechanisms ensure that the credit liquidity pools in Webtransfer not only serve as an effective tool for financing loans but also provide participants with flexible opportunities for investing and earning income.
5. Credit Certificates (LP NFT)
To represent shares in credit liquidity pools, credit certificates — non-fungible tokens (NFTs) linked to credit pools — are used. When funds are deposited into the credit pool smart contract, users receive these NFT certificates, which are minted upon deposit and burned upon withdrawal of funds. Each certificate is unique and provides its holder with a number of important rights and benefits:
– Confirmation of the liquidity share contributed to a specific credit pool.
– The right to receive a portion of the interest income from loans issued from the pool, proportional to the contributed liquidity.
– The ability to manage liquidity — adding or withdrawing funds from the pool at any time.
– The ability to trade Credit Certificates among all holders on the secondary market.
Extended Uses of Credit Certificates:
Beyond their basic functions, Credit Certificates (LP NFT tokens) offer Webtransfer participants broader opportunities for interaction within the platform’s ecosystem:
– Use as collateral for obtaining loans: holders of credit certificates can use them as collateral to obtain loans within the platform. This allows participants to access additional financial resources while maintaining their share in the liquidity pools and the right to interest income.
– Investments in specialized investment pools: credit certificates can be directed to specially created pools that offer various investment strategies or focus on specific market segments. This provides holders the opportunity to diversify their investments and participate in new financial projects.
– Use as a tool for loans by other participants: certificates can serve not only as collateral for the holders themselves but also be offered in pools where other participants can borrow against their own assets. This approach helps create additional demand for credit certificates and increases their liquidity on the platform.
These additional functions of credit certificates significantly expand their uses within the Webtransfer ecosystem, making them a multifunctional tool for managing personal finances, investing, and obtaining credit. They enable holders to actively participate in the platform’s economy, maximizing their investment benefits and providing new opportunities for growth and development across the ecosystem.
Thus, NFT Credit Certificates not only serve as a tokenized digital property right for a share in a credit pool and associated interest income streams but also ensure a high level of security and convenience in investment management. Trading these certificates on the secondary market enhances liquidity and provides additional opportunities for interaction and income for Webtransfer ecosystem participants.
6. Credit Scoring and Risk Management
Every participant in the Webtransfer network has a social credit rating determined based on their history of interactions, credit activity, ratings, and reviews from other users within their social connections and trust chain.
This rating plays a crucial role in issuing unsecured loans and setting the limits, interest rates, and required levels of collateral to minimize risks.
Webtransfer is committed to developing and implementing an advanced credit scoring model based on a comprehensive analysis of users’ social, financial, and behavioral data. The system will utilize multifactorial scoring models with artificial intelligence and machine learning to assess creditworthiness in real-time.
Innovations in a historical context:
Webtransfer was the first in the world to implement the Visual DNA method to assess borrowers’ personality traits, using a test based on the “Big Five” model. This allowed a deeper understanding of users’ motivations and preferences, improving their reliability assessment as borrowers.
Key aspects of scoring:
– Social credit rating: each user will have an individual rating formed based on their interactions in the network, credit history, reviews, and ratings from other users.
– Comprehensive data analysis: analysis algorithms will consider a wide range of factors, including financial flows, social connections, online behavior, as well as macroeconomic and demographic data.
– Adaptive lending conditions: lending conditions will automatically adjust based on changes in credit rating and borrowers’ financial situations.
An additional credit scoring parameter – Guarantor Rating
Parameter description:
An additional creditworthiness assessment parameter is the number of guarantors within the participant’s credit union or partner network. This indicator reflects the level of trust the participant enjoys among other system participants and their ability to attract guarantors.
Integration mechanism into the credit score model:
1. Quantitative assessment of guarantors: each guarantor adds a certain number of points to the credit rating, depending on their own credit history and rating. The rating also includes consideration of loans issued, allowing for the activity of guarantors in the credit network.
2. Verification of guarantors: an automated system checks the status and credit background of each guarantor to ensure their suitability and relevance. It’s crucial that active loans of a guarantor do not exceed the term of the guaranty and serve as collateral.
3. Limits and restrictions: setting a maximum number of guarantors that can influence the scoring to prevent data distortion.
4. Dynamic rating update: regular updates of the rating based on changes in the composition of guarantors and their credit ratings. If a guarantor has repaid issued loans and withdrawn money from the credit pool, the borrower’s rating should change. During the guaranty period, the guarantor cannot withdraw the amount equivalent to the guaranty collateral.
The introduction of guaranty strengthens mutual trust and fosters the creation of a more stable credit environment, enhancing creditworthiness and access to better lending conditions. However, there is a risk of collusion and abuse, which requires strict audit and control procedures to maintain the integrity of the credit system.
Continuous improvement:
Active implementation of artificial intelligence methods on the Webtransfer platform enhances credit scoring systems. Using feedback and analyzing user behavior will help improve the accuracy and fairness of lending conditions, reducing financial risks and strengthening trust and loyalty among users.
This approach not only increases the efficiency of the credit system but also reinforces the principles of trust and mutual aid within the decentralized Webtransfer credit network, promoting the creation of fairer and safer financial conditions for all participants.
7. Webtransfer Insurance Pool
To ensure reliable protection of loans and stability of credit operations in the Webtransfer network, a decentralized insurance pool is functioning. This mechanism accumulates funds through a portion of fees charged on operations with secured loans, voluntary contributions from participants of the ecosystem, as well as investment activities of the pool itself.
Depending on the chosen level of insurance, a certain percentage of the interest earned is directed to the insurance pool to cover losses in case of borrower default.
Webtransfer offers two levels of insurance:
Full insurance (25%): when a loan is successfully repaid, 25% of the interest earned is directed to the insurance pool. This level of insurance guarantees full compensation for losses in case the borrower fails to repay the loan.
Partial insurance (10%): when a loan is successfully repaid, 10% of the interest earned is directed to the insurance pool. This level of insurance provides compensation for 75% of losses in case the borrower fails to repay the loan.
The maximum amount of insurance paid per loan is capped at $1,000, which matches the maximum size of a single loan. Interest on the loan is not covered by the insurance pool.
In the event that a borrower is unable to repay the debt (default), the creditor’s losses are compensated from the insurance pool funds. Compensation occurs through the redemption of credit certificates secured by the issued loan, with an addition of 5% annual interest to the amount of the unredeemed debt.
Thus, even in the event of a total default by the borrower, the creditor’s losses are fully compensated by the insurance pool and the subsequent realization of the collateral.
Transparency and accessibility of information about the size and composition of the pool are ensured through blockchain technology, allowing all network participants to track the state of the insurance pool in real time.
Distribution of funds and dividends
The Webtransfer insurance pool plays a key role in the financial stability of the network, accumulating funds through commissions from insured loans and investment activity. At the end of each calendar year, half of the accumulated funds in the pool are distributed among WEB token holders as dividends, while the remaining 50% are reinvested to increase the size of the pool and maintain its long-term stability.
Example of distribution:
2024: The pool accumulated $1 million USD. Of this, $500,000 USD is distributed as dividends among WEB holders, and $500,000 USD remains in the pool for its expansion.
2025: The pool collects an additional $1 million USD, increasing the total funds to $1.5 million USD. Of this amount, $750,000 USD is distributed among WEB holders, and the remaining $750,000 USD continues to augment the pool.
Thus, the Webtransfer insurance pool plays a key role in ensuring the security and stability of the platform. It not only protects the interests of creditors but also creates favorable conditions for WEB token holders, encouraging their active participation in the development of the ecosystem and contributing to its long-term success.
Diversification and investment
As part of the strategy to enhance system resilience and minimize risks, the insurance pool is continuously diversified. This is achieved by including a variety of instruments and assets that help reduce the overall risk of the pool. Funds from the insurance pool are invested in different asset classes, including stablecoins, government bonds, low-risk DeFi projects, and governance tokens of other protocols. Thus, even in the event of mass defaults, the pool can provide compensation for creditors’ losses.
Decentralized management
Management of the insurance pool is conducted by WEB token holders through decentralized governance mechanisms. WEB token holders can vote on key issues regarding the management of the insurance pool using a decentralized governance platform. This includes selecting assets for investment, changing insurance levels and compensation rules, and making decisions on payouts in complex cases. This approach not only promotes the democratization of the management process but also enhances participants’ trust in the insurance mechanism, making it transparent and predictable.
8. Credit Unions in Webtransfer
Credit unions in Webtransfer represent dynamic networks of partner organizations that create joint liquidity pools for mutual loan financing. These unions span various countries, regions, and cities, and can also be formed around common interests, providing not only financial support to their members but also fostering the development of local economic initiatives through decentralized management and collective lending.
Credit unions are created, owned, and managed by their members, which may include both informal groups by agreement and legal entities, typically non-profit organizations. The exemption from corporate income tax on the revenues of legally registered non-profit credit unions is a significant advantage. This facilitates a more effective redistribution of resources within the union and provides additional incentives for the development and expansion of the union members’ credit opportunities.
Legal entities within credit unions may issue debit and credit cards for their members. These cards can support both fiat and cryptocurrency funds, providing union members with a convenient and flexible tool for managing their finances.
Additionally, credit unions can be organized in the form of a DAO (Decentralized Autonomous Organization), which offers further benefits such as the automation of management and operations, reduction in operational costs, and increased transparency in decision-making. A DAO operates based on blockchain smart contracts, ensuring a reliable and tamper-proof management system where each action or change in structure requires majority participant approval.
Participation in Credit Unions
Those wishing to join an existing credit union or to create a new association can start with active unions in their region or area of interest. This provides a first step towards actively influencing community economic development and gaining support from like-minded individuals.
Advancing Deep Decentralization
Webtransfer is moving towards complete autonomy and self-organization, highlighting the absence of centralized managerial roles, such as directors or managers. The platform serves merely as a foundation for credit operations, where each participant or structure is free to independently create websites and companies while still maintaining a connection with the extensive credit network. This ensures network integration based on cooperation and mutual aid, promoting growth and community development.
This model of decentralization allows each participant to be an initiator of change, fostering the democratization of financial interactions and strengthening financial stability through collective efforts.
9. Webtransfer Affiliate Program
Webtransfer values the contributions of every member of our community and especially recognizes the importance of those who have helped spread knowledge about our service in the past. Many of our loyal partners have actively participated in educating the community, creating educational materials and running blogs or YouTube channels. These materials have significantly eased the process for new users to understand and utilize our platform for lending.
As part of the new decentralized social credit network, Webtransfer aims to revive and enhance this network of interactions. We are pleased to announce the launch of an updated affiliate program that will provide unique incentives and resources to both old and new partners.
Partner Preferences Include:
– Rewarding with WEB tokens: partners actively promoting Webtransfer and attracting new users will be rewarded with WEB tokens. These tokens can be used for participating in platform governance or exchanged for other cryptocurrencies.
– Bonuses for forming large pools: partners who form significant credit pools through their affiliate networks will receive special bonuses in the form of additional tokens or improved conditions for their pools.
– Access to special tools and resources: providing partners with access to marketing and educational resources that will help them more effectively conduct their activities and attract more users.
Role of Partners in Forming Credit Unions:
Partners who attract new participants through their affiliate link and create an affiliate network are essentially forming a credit union. These unions act as a foundation for expanding the Webtransfer network, strengthening the community, and increasing credit opportunities.
History of Success and the Role of Partners:
It is noteworthy that Webtransfer’s early success required no investment in traditional advertising thanks to the active support of our partners. Their efforts stimulated organic growth and expansion of our community. In recognition of these contributions, we aim to enhance our support for our partners by providing them with all the necessary resources to continue developing and expanding our community.
This program is designed not only to reward our partners but also to ensure sustainable growth and expansion of our community. We believe that the active involvement of experienced participants in promoting our platform is key to creating a strong and transparent decentralized financial system.
10. Management with the WEB Token
The WEB token plays a central role in the Webtransfer ecosystem, performing key functions in the management of the protocol and its development. Holders of WEB have a voice in deciding key issues related to the development of the platform, including making changes to the protocol, updates, and adding new liquidity pools.
Distribution of the WEB Token
New WEB tokens are distributed through two main mechanisms:
1. Credit Mining – participants of the platform receive rewards in WEB for issuing loans through the Webtransfer protocol. A larger volume of issued loans results in more tokens.
2. Staking in credit pools – holders of other cryptocurrencies can earn WEB by locking their assets in special Webtransfer liquidity pools and providing them for loan financing.
Additionally, tokens are periodically distributed among the most active network participants as a reward for contributing to community development.
Opportunities for Participation in Governance
WEB holders have the opportunity to directly influence the development of the Webtransfer protocol through decentralized voting mechanisms, including:
– Protocol updates – holders can vote for or against changes to the Webtransfer base code.
– Adding new liquidity pools – votes are conducted to include new cryptocurrencies and tokens in the platform’s liquidity pools.
– Changing protocol parameters – changing rates, limits, collateral requirements, and other key settings.
– Strategic decisions – votes on partnerships, roadmaps, token issuance, and other important issues.
The voting process is fully decentralized, with each WEB holder having a number of votes proportional to their token share. Decisions are made based on community consensus of token holders.
Thus, WEB not only stimulates participation in the Webtransfer credit system but also gives holders direct control over the present and future development of the protocol.
11. Technological Infrastructure
Transaction and smart contract security is a top priority for Webtransfer. To ensure the reliable protection of user funds, modern cryptographic algorithms and security protocols will be utilized.
Technology Choice and Smart Contract Programming
Webtransfer has selected blockchain platforms Solana, TON and Polygon for the implementation of its smart contracts, considering their technological advantages and user accessibility.
- Solana has been chosen for its high performance and low fees, making it ideal for scalable solutions. Smart contracts on Solana are developed in Rust and C, which ensure high performance and security.
- TON (Telegram Open Network) is used for its unique integration with the Telegram messenger, allowing users to easily manage their assets through the well-known messenger application, utilizing FunC language for smart contracts.
- Polygon supports our network due to its high performance and low transaction costs. Being compatible with Ethereum, it allows developers to use existing tools and the Ethereum ecosystem to create scalable and efficient applications.
Bridge for Cross-Network Interoperability
To enhance cross-network interaction and ensure seamless operational compatibility, we will develop a bridge that allows token and NFT holders to swiftly transfer their assets between different networks. This is particularly important for participants using multiple blockchain platforms. The presence of such a bridge will enable users to easily move assets, increasing the flexibility and accessibility of services within the global credit network Webtransfer.
Development and Testing of Smart Contracts
All Webtransfer smart contracts will be developed using best coding practices and will undergo multiple rounds of testing to identify bugs and vulnerabilities. Specialized tools and testing procedures adapted to the unique features of each platform will be employed.
Independent Audit and Bug Bounty Programs
In the near future, Webtransfer plans to engage one or more reputable blockchain security firms to conduct an independent audit of the smart contract source code. This will allow for a comprehensive check for potential vulnerabilities, errors, and bugs. Successful audit completion will confirm the high level of system security. A special budget is also planned for organizing bug bounty programs, designed to engage ethical hackers in finding and fixing vulnerabilities, with rewards based on the criticality of the issues found.
Webtransfer strives to adhere to industry best practices in security to ensure maximum protection of funds and confidential data of platform users.
12. Webtransfer Roadmap
Webtransfer is committed to continuous development and innovation in the field of decentralized social lending. Our roadmap focuses on improving user experience, expanding platform functionality, and integrating with key elements of the crypto ecosystem.
2024
Q3-Q4 (Priority):
– Launch of credit liquidity pools for investors and borrowers.
– Implementation of advanced social credit scoring features for more accurate risk assessment.
– Development and launch of an educational program for new users on the basics of cryptocurrencies and P2P lending.
Q4:
– Integration with leading DEXs and CEXs (Binance, Coinbase, Uniswap) to increase WEB token liquidity.
– Implementation of decentralized insurance mechanisms to protect loans.
– Expansion of WEB token functionality, including participation in special staking and reward programs.
2025
Q1:
– Launch of the Webtransfer mobile app, simplifying access to platform services.
– Launch of a loyalty program for active users and lenders.
– Development of tools for integration with global financial services and payment systems.
Q2-Q3:
– Implementation of innovative risk management tools based on artificial intelligence.
– Organization of an international hackathon for developers to create new DeFi solutions based on Webtransfer.
Q4:
– Expansion of the partner network with other DeFi and blockchain projects.
– Launch of cross-chain functionality to ensure compatibility of WEB with other blockchains.
Long-Term Perspective
– Development of the international Webtransfer ecosystem to support global P2P loans.
– Development of the proprietary Webtransfer blockchain for maximum scalability and security of the platform.
– Cooperation with government and international financial regulators to create a favorable legal environment for the development of DeFi and P2P lending.
Integration and Support for Credit Unions
– Strengthening of credit unions: Webtransfer plans further development and support for credit unions, improving their risk management capability and lending capacity. This includes the introduction of new tools for risk management and data analysis, allowing unions to more effectively distribute credit resources and support local economic development.
– Expansion of credit union functionality: As part of the goal for global integration and development, features will be introduced that allow credit unions to operate internationally, providing support not only in fiat but also in cryptocurrency operations. This will enhance opportunities for cross-border financing and interaction with international financial platforms.
Webtransfer continuously explores new opportunities and technologies to enhance its services and expand its presence in the world of decentralized finance. We invite all interested parties to join us in this journey and contribute to the creation of the future of finance.
13. Conclusion
The decentralized social credit network Webtransfer represents an innovative solution in the field of P2P lending, combining the advantages of social connections and trust with advanced blockchain technologies, smart contracts, and decentralized finance. Unlike many existing DeFi protocols, Webtransfer is not only geared towards experienced crypto investors but also towards ordinary people striving for financial inclusivity.
Credit unions in our network play a key role as they not only strengthen the financial stability of their members but also promote the development of economic initiatives at the local level. The introduction of credit unions will help achieve the project’s goals by providing access to a broader and more diverse range of credit opportunities and supporting the principles of decentralization and self-management. This fosters the creation of a strong and mutually beneficial ecosystem, strengthening the community and ensuring its sustainable development.
Using the concept of liquidity pools and unique NFT credit certificates, Webtransfer provides a transparent and fair mechanism for financing P2P loans without intermediaries. The integration of social credit scoring systems and risk management allows for the issuance of both secured and unsecured loans with various levels of profitability and risk.
Currently, active work is underway on the development and testing of key smart contracts that form the basis of Webtransfer. After completing this important stage, the platform will be ready for public launch. Decentralized governance through the WEB token ensures that the development of the Webtransfer ecosystem will directly depend on its participants, who act on principles of openness and equal opportunity. The introduction of an insurance pool to protect loans underscores the commitment to the safety of funds and the protection of all participants in the credit process.
At the intersection of social networks, the crypto industry, and DeFi, Webtransfer offers unique financial opportunities and interactions for its users. The elimination of intermediaries, fair access to capital, and innovative credit tools usher in a new era in P2P lending, based on trust, transparency, and collective management.
The Webtransfer roadmap envisages further integration with leading blockchain wallets, decentralized exchanges, and other DeFi protocols, which will ensure seamless interaction with the crypto ecosystem and mark another step towards complete financial decentralization and inclusivity.
We invite everyone passionate about creating a fairer and more inclusive financial system to stay tuned for further announcements about the public launch of Webtransfer. After the launch, you will be able to register, purchase WEB tokens, and participate in managing the platform through votes on key ecosystem development issues.
Webtransfer: where everyone is a bank!
15.04.2024
Changes and Updates
Webtransfer reserves the right to make changes and updates to this white paper at any time without prior notice. These changes may be aimed at improving, supplementing, or adapting the content in line with technical progress, user feedback, changes in regulatory requirements, or other factors affecting the platform’s operation. Users are advised to regularly review the white paper to stay informed of the latest updates and changes.