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What countries are currently supported if I want to use CarrDefi to purchase a vehicle or fund a loan?
Currently you can fund a pool from any country. As for obtaining a CarrDefi loan that will initially start in the US then open to more country’s late.
You are not limited to any specific dealer. Just find the vehicle you want to buy and complete the application process; we will do the rest.
A funding pool is an amount of digital assets that will get loaned to borrowers for repayment.
Depending on the type of pool you fund you will earn between 7% to 17% APY.
BTC, ETH, XRP and CARR
You will receive your first payment distributions 30 to 45 days from the time the pool is completely funded.
CarrDefi will manage the assets and transfers to the dealers.
You will manager your own portfolio however CarrDefi will handle the underwriting and payment collection process.
In the event a borrower falls behind we will start the collection process. If the borrower falls to far behind, we will then repo the vehicle and liquidate the asset at the auction. Once a vehicle is sold at the auction the proceeds from the sale will be distributed to the pool.
The digital assets are converted to a stable coin then converted to fiat at the bank to fund the dealer.
Unlike other defi projects the vehicle is the asset.
Each month when a borrower makes his or her monthly payment your portion of that pool will be distributed to your wallets.
That will depend on the length of the funding pool you are in, 48 to 72 months. However you will receive monthly distributions as borrowers make monthly payments.