Education Center

What is KOIN?

KOIN is a form of fund available only on KoinWorks platform given to Lenders through a certain promo or program. Lender can use KOIN to funding in loans and gain only the interest from each repayment.

KOIN is only valid once every time it is used to lending. The principal of KOIN will be forfeited, but the interest earned will be fully owned by the Lender.

How to Get KOIN

Both prospective and active users can earn KOIN through various KoinWorks promos. Every user can earn KOIN by participating in KoinWorks Referral Program just by inviting friends to register and start lending or by using a friend's referral code who is an active user when registering an account on KoinWorks.

Every user also can earn KOIN by using KoinWorks Promo Code upon registration.

There are so many ways to earn KOIN. Please follow our social media accounts @koinworks and our blog to get the latest info of various programs to earn KOIN.

The Use of KOIN & Its Expiration

The use of KOIN is exactly the same as the use of your fundings on KoinWorks. Please keep in mind that the Lender must immediately allocate the KOIN that has been earned to avoid forfeitication because it has expiration period (30 days after the KOIN received).

Specifically, if a Lender possesses KOIN then when making funding, the KOIN will always be allocated / deducted first because of the expiration date in force.

Example scheme is as follows:

  • Funding Amount: IDR1,000,000
  • Cash Balance: IDR10,000,000
  • KOIN: 200,000

Then from the total funding amount of IDR1,000,000, the 200,000 KOIN will be prioritized and deducted combined with IDR 800,000 deducted from the Cash Balance.

The Lender’s funding composition would be like this:

Total Funding = KOIN + Cash Balance

  • => IDR1,000,000 = 200,000 KOIN + IDR800,000

After making funding, the final amount of the Lender's Cash Balance will be IDR 10,000,000 - IDR 800,000 = IDR 9,200,000 and can be seen on the dashboard.

This is done because KOIN has an expiration period so that it will always take precedence on every funding.

If the Lender does not possess any KOIN, the Cash Balance will be deducted every time she/he makes a funding.

The allocated KOIN will generate returns in the form of principal and interest, where the principal of KOIN will be withdrawn by KoinWorks and the interest will be fully owned by the Lender.