Objective: Produce a clear breakdown of Busha’s SOL-backed loan feature.

Deliverable: Article on Medium or Substack AND an X (Twitter) thread — both platforms are compulsory.

Content to include: Introduces Busha’s SOL-backed loan feature; Explains the problem this feature solves for crypto holders; Walk through how the loan process works, from collateral deposit to repayment; Highlights key details such as loan-to-value (LTV), interest rate, and liquidation mechanics; Explores practical scenarios where this feature is useful (emergencies, business needs, reinvestment, etc.); How users can borrow cash without selling their crypto; The step-by-step loan flow inside the Busha app; The 2% monthly interest rate and how repayment works; How liquidation risk works, including margin calls and collateral management; Why support for Solana matters for users who hold SOL.

Requirements: Narrative Style: Clear, practical, and experience-based; Originality: Must be 100% original and unpublished; Accuracy: All explanations of interest rates, LTV, and liquidation must be correct; Clarity: Avoid unnecessary jargon; prioritise simplicity and education; Only content sharing first-hand user experiences will be considered; Plagiarised, AI-only, or off-topic content will be disqualified.

<h3 class="heading-node">Overview</h3>Busha has just launched Solana-backed loans, allowing users to borrow instant naira using SOL as collateral. Users can now get immediate cash without selling their crypto.This bounty invites writers to produce a clear breakdown of Busha’s SOL-backed loan feature. Submissions should focus on real-world use cases, the end-to-end user experience, and why this new feature is particularly important for users in Nigeria.Strong entries will go beyond feature descriptions to explain why crypto-collateralised lending matters: preserving upside, accessing local currency liquidity, and expanding practical financial options without relying on traditional credit systems.<h3 class="heading-node">Scope of the Bounty</h3>Participants are expected to produce an article and an X thread that:<ul class="list-node"><li>Introduces Busha’s SOL-backed loan feature.</li><li>Explains the problem this feature solves for crypto holders.</li><li>Walk through how the loan process works, from collateral deposit to repayment.</li><li>Highlights key details such as loan-to-value (LTV), interest rate, and liquidation mechanics.</li><li>Explores practical scenarios where this feature is useful (emergencies, business needs, reinvestment, etc.).</li></ul><h3 class="heading-node">Requirements</h3><ul class="list-node"><li>Format: Medium or Substack AND X (Twitter) thread. Both platforms are compulsory.&nbsp;</li><li>Content Focus: Busha’s SOL-backed loan feature.</li><li>Narrative Style: Clear, practical, and experience-based.</li><li>Originality: Must be 100% original and unpublished.</li><li>Accuracy: All explanations of interest rates, LTV, and liquidation must be correct.</li><li>Clarity: Avoid unnecessary jargon; prioritise simplicity and education. </li></ul>Writers should clearly explain:<ul class="list-node"><li>How users can borrow cash without selling their crypto.</li><li>The step-by-step loan flow inside the Busha app.</li><li>The 2% monthly interest rate and how repayment works.</li><li>How liquidation risk works, including margin calls and collateral management.</li><li>Why support for Solana matters for users who hold SOL.</li></ul><h3 class="heading-node">Prizes</h3>A total prize pool of $2,250 USDC will be distributed as follows:<ul class="list-node"><li>1st Place: $1,000</li><li>2nd Place: $750</li><li>3rd Place: $500</li></ul><h3 class="heading-node">Judging Criteria</h3>Submissions will be evaluated based on the following:<ul class="list-node"><li>Narrative Quality: The quality of the narrative and the clarity of the user's story.</li><li>Feedback &amp; Insight: The depth of the user's feedback, and how well the article highlights Busha's SOL-backed loan feature&nbsp;</li><li>Visuals &amp; Engagement: The quality of the screenshots and the article and thread's ability to engage readers and an audience on X (Twitter).</li><li>Accuracy: The accuracy of the information presented.</li><li>Clarity: The overall clarity and logical flow of the thread. </li></ul><h3 class="heading-node">Terms</h3><ul class="list-node"><li>Submissions must be original, public, and clearly tagged.</li><li>Only content sharing first-hand user experiences will be considered.</li><li>Plagiarised, AI-only, or off-topic content will be disqualified.</li><li>If you’re selected as a winner, you’ll be required to show proof of your Busha account before payment is made.&nbsp;</li></ul>Participation is voluntary. By submitting, you agree to have your content reviewed, shared, or amplified by Busha and ecosystem partners.

Busha Crypto-Backed Loans Writers Bounty

Busha Crypto-Backed Loans Writers Bounty

2,250USDG Total Prizes
1,000 USDG 1st 750 USDG 2nd 500 USDG 3rd