Rain.Credit : Off-Chain Oracle Analytics Aggregation
Introduction
The increasing need to assess creditworthiness against a background of secure and authentic data, however, presents unique opportunities for entrepreneurs to implement innovative solutions.
Defi is a calculation project that enables the availability of authentic and reliable credit risk data for lenders. The Defi system allows multiple lending institutions to collect borrower data through a highly secure cross-company data collaboration platform. The underlying blockchain-based protocol ensures that data is decentralized and not owned by a single party. The platform also leverages trusted computing technology that takes privacy protection and information security to the next level. This creates ideal conditions for lending institutions to extract value from data safely.
Rain.Credit
Rain.Credit is a service that provides information about customer loan applications to reduce the risk of default, excessive risk taking and criminal activity to investors. The more information provided by the borrower, the less collateral needed to borrow and the more funds available for borrowing.
We are improving access to loans for customers through rain credit DROPS by analyzing customer payment history in the binance smart chain, ethereum native chain, and other third party chains in return for access to more loans and other services.
Rain credit DROPS is simply an extra amount of RAIN tokens that we offer borrowers without additional collateral based on their transaction history and rating of the Rain Credit Aggregation Oracle Analytics Off-chain.
Issues with Ethereurm's Oracle Lenders
Ethereum smart contracts are completely self-contained and any data or access to off-chain data is restricted. For security purposes, this is necessary because execution on the blockchain must be deterministic and the reaction to subsequent calls to outside APIs can change in unknown ways. However, with additional external data, combining multiple informational data from multiple chains, some desired form of smart contract functionality can be performed.
Oracle is a conceptual solution that takes off-chain information from the real world and sends a fixed copy of this information into blocks, making it open to future smart contract use.
Examples of real-world events that can affect on-chain loans and possible defaults include but are not limited to;
- Customer account activity
- Payment history
- Overuse
- Government Regulation
Accessible Intelligence off the chain
Real-world events and customer information that can be accessed off-chain will be used to increase borrower authenticity and further reduce the risk of default. Intelligent information such as transaction history, loan history, account transaction history, liquidations on the Bsc chain, the original ethereum chain and other proprietary chains will be analyzed for defaults and other activities.
Transaction history and forensic accounts
Loan Tracker information provided by bscscan, etherscan and using api charts to analyze loan offer protocol data, aave, cream and others about the user's address will be used to create a Credit Score at the user's address. This credit score will be used by investors to measure the borrower's credit rating so as to minimize losses and the risk of default.
- 40% will be sold via pre-sale
- 20% will be used for project development
- 20% will be used to provide liquidity and agricultural produce
- 10% token will be allocated to the team (For 2 years, this token will be locked to instill public trust)
- 10% will be used for marketing
- Rainbuilder / Main Developer
- Regards / Developers
- Drizzle / Community Manager
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