Place/Date: - November 2nd, 2021 at 7:21 pm UTC · 2 min read
Contact: DeCredit, Source: DeCredit
DeCredit has built up it’s first version of credit oracle on Chain and implemented it.
The DeCredit team consists of personalities with several years experience in the credit field. All the team members have rich industry resources in the fields of credit agreement, big data in credit, industrial funds, data risk control, etc.
The primary essentiality is to work with the DeCredit Credit loan models on the mainnet; to deliver credit lending service to users and empower other DeFi projects in the future with the off-chain credit information.
DeCredit Credit loan model consists of 6 sub-models. These are :
The key relevance of staking is to verify the identification for eligible users who staked already. The eligible user has to stake and submit the application form, then the Credit oracle will refer to the submitted information for each individual applicant to raise the amount & limitation of loan with the same mortgage rate.
The whole verification and it’s final result (Individual Credit Status) will be conducted by the ‘DeCredit Scoring System’. It is an optimized procedure for DeCredit to process that credit data with an algorithm of Credit-Scoring & Credit-Matching.
The Credit Oracle is a bridge connecting the blockchain and the real world, and supplements the off-chain credit data to on-chain.
The Credit oracle will conduct its special feature development with DeCredit and it’ll come to us in the near future.
DeCredit aims to expand and implement more application scenarios and accelerate the construction of global credit oracles. Based on open source , DeCredit will provide powerful credit data services for other DeFi projects, NFTs, and Metaverse in the future to empower the entire ecosystem.