Rain.Credit: Off-chain Oracle Analytics Aggregation on Binance Smart Chain

Rain.Credit is a service that provides information about a customer loan application to reduce the risk of default, excessive risk taking and criminal activities to investors. The more information provided by the borrower, the less collateral needed to borrow and the more funds available to be borrowed.

We are increasing access to loans for customers through rain credit DROPS by analyzing customer payment history in binance smart chain, ethereums native chain as well as other third party chains in exchange for access to more loans and other services.

Rain credit DROPS is simply the extra amount of RAIN tokens we offer borrowers without any extra collateral based on their transaction history and rating from rain credit Off-chain Oracle Analytics Aggregation.

The problem with Oracle Lenders on Ethereurm

Ethereum’s smart contracts are completely self-contained and any data or access to off-chain data is limited. For security purposes, this is necessary because execution in blockchains must be deterministic and the reaction to subsequent calls to outside APIs can change in unknown ways. Nevertheless, with additional outside data, aggregating multiple information data from multiple chains some desirable forms of smart contracts functionality are feasible.

An Oracle is a conceptual solution that takes off-chain information from the real world and submits an immutable copy of this information into blocks, making it open for future use of smart contracts.

Example of Real world events that can affect on-chain loans and chances of default include but not limited to;

• Customer account activity
• Payment history
• Excessive Leveraging
• Government Regulations

Accessible Intelligence off-chain

Real world events and customer information accessible off-chain would be used to improve authenticity of borrowers and further alleviate the risk of default. Intelligent Information such as transaction history, loan history, account transaction history, liquidations on Bsc chain, ethereum native chain as well as other proprietary chains api’s will be analyzed for defaults and other activities.

Transaction history and Account forensics

Loan Tracker information provided by bscscan, etherscan and using the graph api’s to analyse compound, aave, cream and other loan offering protocol data about a user’s address will be used to create a Credit Score on the user’s address. This credit score will be used by investors to gauge a borrower’s credit rating thus minimizing losses and default risk.

If you are fascinated about blockchain, cryptocurrency, defi, binance smart chain, ethereum, an open future to make the world a better place to come join our community in building risk.credit as we create a world without boundaries.

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