Overview

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.

Scope of the Bounty

Participants are expected to produce an article and an X thread that:

• 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.).

Requirements

• Format: Medium or Substack AND X (Twitter) thread. Both platforms are compulsory. 

• Content Focus: Busha’s SOL-backed loan feature.

• 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• Originality: Must be 100% original and unpublished.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.
  

Writers should clearly explain:

• 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.

Prizes

A total prize pool of $2,250 USDC will be distributed as follows:

• 1st Place: $1,000

• 2nd Place: $750

• 3rd Place: $500

Judging Criteria

Submissions will be evaluated based on the following:

• Narrative Quality: The quality of the narrative and the clarity of the user's story.

• Feedback & Insight: The depth of the user's feedback, and how well the article highlights Busha's SOL-backed loan feature 

• Visuals & Engagement: The quality of the screenshots and the article and thread's ability to engage readers and an audience on X (Twitter).

• Accuracy: The accuracy of the information presented.

• Clarity: The overall clarity and logical flow of the thread.
  
  

Terms

• Submissions must be original, public, and clearly tagged.

• Only content sharing first-hand user experiences will be considered.

• Plagiarised, AI-only, or off-topic content will be disqualified.

• If you’re selected as a winner, you’ll be required to show proof of your Busha account before payment is made. 

Participation is voluntary. By submitting, you agree to have your content reviewed, shared, or amplified by Busha and ecosystem partners.