WATCH CREDITBIT CONTRACT

Step 1:

Open Ethereum Wallet and click on the Contracts tab.

Step 2:

Scroll to the bottom and click Watch Contract. Wait until the wallet is synchronized.

Step 3:

Contract name: You can choose the contract name as you prefer (CreditBIT)

Contract Address:

JSON Interface (copy and paste the following code):

Step 4:

The window should look like this. Click OK to add Contract.

Step 5:

If you successfully added a Contract it should be seen in your Ethereum Wallet like on the above picture.

FUNCTIONS AVAILABLE IN THE CONTRACT

Click on the contract as shown on previous page - step 5. When you are inside of a Contract you can find a functions drop down list.

Note: Some functions are not available yet.

WATCH CONTRACT EVENTS

To watch contract events, tick the checkbox Watch contract events.

Now you should be able to view the latest events on the contract.

TRANSACTIONS

TRANSACTION FEE

For each transaction a small amount of Ether/Gas is deduced from your account. Please acquire and deposit this amount of Ether on your account before you start with transactions.

Step 1:

Go to one of your accounts which has positive CreditBIT Token balance.

Step 2:

Click Send button on the top bar.

Step 3:

To send CreditBIT Token you need to specify where would you like to send it. Enter the address in input TO. Then select amount which you would like to send and select CreditBIT Token from the drop down. Remember, fee for the transaction is always in ether currency. At the end click Send button.

Step 4:

After the execute contract popup appears enter your account password and click Send Transaction button.

Step 5:

You can see your transactions bellow in the Account main page.

Step 6:

You can click on the transaction to view transaction details.

LOCKING

TRANSACTION FEE

For each transaction a small amount of Ether/Gas is deduced from your account. Please acquire and deposit this amount of Ether on your account before you start with any action.

BLOCKS

On Ethereum Blockchain, approximately every 15 seconds a new block is found. This metronome can be represented with this table:

4 blocks = 1 minute

240 blocks = 1 hour

5760 blocks = 1 day

40320 blocks = 1 week

172800 blocks = 1 month (depends on the month)

2102400 blocks = 1 year (depends on the year)

Locking for N blocks

The locking time period is measured in blocks. Locking for 500 blocks means locking for approx. 125 minutes. Locking for 1.000.000 blocks means locking for approx. 173 days. Calculate other time frames accordingly.

LOCKING

To lock your Tokens you must follow the procedure explained in a tutorial.

You can lock any amount of Tokens (1 is a minimum) anywhere from 1 block to 4204800 blocks (approx. 2 year period). Think twice before locking your Tokens for a longer period, as it can't be undone. We suggest you to test locking for a shorter time (small amount of blocks) first before going for longer periods.

Locking period resets each time you lock any amount of tokens. So if you lock 5 Tokens for a month, and after 15 days you lock another 5 tokens for a year period: you will have 10 tokens locked for a year. Please be careful when re-applying lock! If you need to lock another batch of Tokens, we suggest opening a new Ethereum account and transferring the second amount of Tokens there, where they can be locked independently.

CreditBOND YIELD (AWARD):

With locking your Tokens you will be able to collect yields from the CreditBOND Smart Contract. But be sure to understand, how the yields are calculated first.

Yields depend on a locking period:

from 1 to 175200 blocks (a month) - 1% yield per year

from 175200 to 525600 blocks (3 months) - 3% yield per year

from 525600 to 1051200 blocks (6 months) - 6% yield per year

from 1051200 to 2102400 blocks (1 year) - 8% yield per year

from 2102400 to 4204800 blocks (2 year) - 12% yield per year

Step 1:

Step 2:

Step 3:

Step 4:

Step 5:

Remember to read the instruction first. It is very important to understand how locking works. The input lock for blocks represents how much time your CreditBITs will be locked.

Step 6:

Enter the password which is associated with your account and was set when this account was created. To finish a process click Send Transaction button.

Step 7:

You can see your transactions bellow in the Account main page.

Step 8:

If you click on the transaction you can view transaction details of each transaction.

CLAIM BOND REWARD

TRANSACTION FEE

For each transaction a small amount of Ether/Gas is deduced from your account. Please acquire and deposit this amount of Ether on your account before you start with any action.

CreditBOND YIELD (AWARD):

With locking your Tokens you will be able to collect yields from a CreditBOND Smart Contract. But be sure to understand, how the yields are calculated first.

Yields depend on the locking period:

from 1 to 175200 blocks (a month) - 1% yield per year

from 175200 to 525600 blocks (3 months) - 3% yield per year

from 525600 to 1051200 blocks (6 months) - 6% yield per year

from 1051200 to 2102400 blocks (1 year) - 8% yield per year

from 2102400 to 4204800 blocks (2 year) - 12% yield per year

CALCULATING CLAIMED BOND YIELDS (AWARDS)

To claim a CreditBond reward after locking, you must follow the procedure explained in the tutorial.

You can claim the Bond Reward before locking period runs out. You will obtain a proportional share of the Reward, according to blocks passed between locking and claiming. You will not obtain locked Tokens, as the locking period is not over yet. With claiming your awards too often you will lose small percentage of reward due to rounding.

If you claim the Bond Reward after locking period is over, you will obtain a Bond Reward for a full number of blocks elapsed from the time of locking till the time of claiming (not only to the end-of-locking block). Also your Tokens will be unlocked and returned to your Wallet.

Example:

Someone locks 100 CRB for 1.500.000 blocks. Yield for this period is 6%. If he claims a reward after 500.000 blocks, he will obtain the following reward:

100 CRB * 0,06 * 500.000 / 2102400 = 1.4269... CRB (approx.)

If he claims his reward again after another 1.200.000 blocks, locking period will be over by then. Therefore, he will obtain the following reward:

100 CRB * 0,06 * 1.200.000 / 2102400 = 3.4246... CRB (approx.)

and the original amount of locked Tokens: 100 CRB

In total, he will obtain 4.8515...CRB, almost the same as he would claim his reward once:

100 CRB * 0,06 * 1.700.000 / 2102400 = 4.8516... CRB

Difference if the result of rounding.

Step 1:

Step 2:

Step 3:

Step 4:

Click Claim Bond Reward from the functions drop down menu, which is located on the right side of Ethereum Wallet / Mist.

Step 5:

Select the account if it is not already selected. Then click on the Execute button.

Step 6:

Enter the password which is associated with your account and was set when the account was created. To finish the process click Send Transaction button.

Step 7:

You can see your transactions bellow in the Account main page.

Step 8:

If you click on the transaction you can view the transaction details of each transaction.