Announcing Credit Cub 🐻‍❄ - an autonomous underwriter on farcaster

Credit Cub :polar_bear: is a Farcaster Frame that gives credit based on the activity of your farcaster and linked onchain accounts.

It uses a Frame Server that can control a Safe Contract Account via the still very alpha “club” plugin in order to let anyone submit an authorized application, and if they pass some basic “not bot” checks and have some minimal level of activity can claim credit from a shared underwriter.

Effectively a Credit Union (or a variant of a ROSCA/ASCA) where your Farcaster Account is how you qualify.

Plus some added onchain fun to incentivize Trustees to not just run off with the funds and behave more positive sum.

Note: The current underwriting model is very much a toy model as the goal is to experiment with “Club Goods” where one could steal $ today but in doing so would burn their reputation with the other members of the club as well as give up the potential of future $$$. Basically the marshmallow experiment.

It’s also left more open than anyone forking this to underwrite as a business should do, so it can serve as a kinda faucet for new Union members to do the quests, and experiment with borrowing (and hopefully repaying) permissionlessy

New Members: If you have been wanting to try Union but have yet to find someone to extend you some trust, Credit Cub’s Credit Club is a good place to get a little bit of credit to start playing with permissionless onchain credit.

You can preview how much credit you qualify for on or via the frame.

If you dont qualify for much, would recommend completing some of the easier quests :

  1. Register on Union (directly or by minting the MoGo NFT)
  2. Stake 100 dai
  3. Vouch for 3 friends (+5)
  4. Set up your voting wallet to delegate to yourself or any delegate
  5. Follow @union and @creditcub on Warpcast.