Lendvest and Chainlink: Pioneering DeFi’s Future with Decentralized Credit Scores

• Lendvest partners with Chainlink through the Chainlink BUILD program to enhance its decentralized credit score framework for DeFi.
• Lendvest’s decentralized credit score aims to provide credible underwriting and transparent rates for DeFi users.

In a groundbreaking move for decentralized finance (DeFi), Lendvest has joined forces with Chainlink through the Chainlink BUILD program. This strategic partnership aims to leverage Chainlink’s cutting-edge oracle services and technical expertise to strengthen Lendvest’s decentralized credit score framework, which is tailored for DeFi platforms.

Lendvest’s decentralized credit score framework is purpose-built for DeFi lending platforms, with a clear mission to offer credible underwriting and a decentralized delivery system. This innovative approach ensures the generation of fair and transparent lending rates for all users.

The recently unveiled Lendvest alpha app serves as a testament to their commitment to innovation. This app empowers users to access credit scores directly on the blockchain. Users can experience the alpha app in two distinct ways:

1. On-Chain Version: This option allows users to connect their wallets and fetch their credit scores on the Sepolia testnet.
2. Off-Chain Version: Users without an Aave v2 lending history can interact with a user-friendly dashboard, providing wallets with borrowing data that is verifiable on Etherscan.

Further enhancing Lendvest’s dedication to security and reliability is their utilization of Chainlink’s oracle infrastructure. In the alpha app, Lendvest incorporates Chainlink’s external adapter for the secure delivery of credit scores. As a proud member of Chainlink BUILD, Lendvest gains early access to an array of products, setting the stage for seamless integration into future iterations of their credit score app.

To ensure a smooth user experience, Lendvest has thoughtfully provided a comprehensive guide:

• On-Chain App: Users can easily connect their wallets, select Sepolia as their network, and access wallet scores on-chain. The step-by-step process includes connecting to the Sepolia testnet and acquiring test tokens for Sepolia ETH to cover gas fees.
• Off-Chain App: This option offers a “random wallet” button, allowing users to explore selected wallets with on-chain loans. It provides insights into credit scores and loan transaction details through the Lendvest dashboard.

The Future of DeFi Credit Scores: A Sneak Peek

Lendvest, on its mission to aggregate on-chain lending data, aspires to create an ironclad credit score system for DeFi protocols. By harnessing Chainlink’s capabilities, Lendvest is on the path to becoming a trailblazing decentralized credit scoring protocol. This integration empowers decentralized lending platforms to algorithmically assess the risk profiles of individual users, ensuring favorable terms for users and boosting risk-adjusted returns for DeFi platforms.