KredoFi docs
For borrowers
Limits, terms, repaying, levels, and what happens if you don’t repay.
#Your limit
Your limit is the smaller of two numbers:
- your level cap times your band share: level caps are $100, $250, $500 and $1,000 (levels 1 to 4); band shares are A 100%, B 75%, C 50%, D 0%;
- your income cap: half your average monthly income, rounded down to a multiple of $50, at most $1,000.
Example: band B at level 1 with a $250 income cap can borrow min($100 x 75%, $250) = $75.
The pool also lends one borrower at most 10% of the pool's value, and only what it has in cash. The borrow form shows the most you can take right now.
#Terms
| Mainnet | Testnet demo | |
|---|---|---|
| Loan term | 30 days | 2 minutes |
| Grace after the due date | 7 days | 1 minute |
| Minimum hold for a level-up | 15 days | 1 minute |
| Score valid for | 30 days | 30 days |
Interest is a flat amount per loan (rounded up to the smallest USDC unit): A 4%, B 6%, C 8%. Band D can't borrow. You can have one loan at a time.
#Repaying
You repay the whole amount due in one transfer: principal plus interest. A $100 band A loan repays $104.
#Growing your limit
When you repay, your level goes up by one if all of these hold. The values come from the contract's own settings (min_hold_ns, loan_term_ns):
| Level-up rule | Mainnet | Testnet demo |
|---|---|---|
| Hold the loan at least | 15 days (half the term) | 1 minute |
| Borrow at least | half your limit at the time | half your limit at the time |
| Your limit can rise at most once per | 30 days (one term) | 2 minutes (one term) |
| Highest level | 4 | 4 |
What the app says, built from those settings:
- Mainnet: "Hold at least 15 days and borrow at least half your limit to level up. Limits can rise at most once per term (30 days)."
- Testnet: "Hold your next loan at least 1 minute to level up."
While a loan is open, the passbook shows a countdown box ("Level up in 0:42"), then "Repay now to level up to $187.50". After a repayment, "Borrow again" takes you to the next loan. If a repayment doesn't level you up, the passbook says which condition wasn't met.
#Your score
A score is valid for 30 days. After that, check your limit again. While a score request is pending you can't borrow.
#If you don't repay
After the due date plus the grace period, anyone can mark the loan as defaulted; the contract checks the dates itself. Then:
- the reserve pays the pool back first, up to the loan's principal;
- your account is blocked from borrowing for good, and your bank fingerprint stays taken, so the same bank identity can't start over with a new account;
- anyone can ask for your sealed name to be released to the recovery partner (once). Only the partner's key can open it.
#What lenders see
Your band, score, loan amounts and dates, linked to your NEAR account. Never your income, transactions or name.