Rain.Credit
a transparent view to lenders or other borrowers that grows and creates a more secure ecosystem.
Crypto lending is a growing market that started only a few years ago. Unless you’re new to cryptocurrency, you’ve probably heard this term at some point. Crypto lending works similarly to peer-to-peer lending, where the borrower connects with the lender via an online crypto lending platform with cryptocurrency as the trading currency, not fiat money. Technically, the more correct term is a loan secured by crypto since not all loans are denominated in cryptocurrency.
Individual investors or traders often use their crypto assets as collateral for cash loans that can be used for investment or as working capital. The mechanism may differ depending on the crypto lending platform, but simply put, borrowers use their crypto assets such as bitcoin, as collateral to get a fiat loan or stablecoin loan. The lender then provides the asset for this loan in exchange for the interest rate on the asset.
Now I want to invite you to explore the Best DeFi Lending Platforms.
Yups, It’s Rain.Credit.
Let’s find out…
What is Rain.Credit?
Rain.Credit is a BEP20 token on the Binance Smart Chain that acts as an Oracle Aggregator non-custodial Off-Chain Data analyzer that assigns a short Credit rating to a user’s address. This credit rating is used to provide a better collateral factor for lenders and borrowers of digital assets on the rain platform. Rain.Credit is based on the current decentralized lending platform and protocol, but with various changes to bring more innovative designs and experiences.
What makes Rain.Credit so unique?
What makes us so unique is how we will use Off-Chain Aggregate analysis to help reduce investor exposure as they begin to interact with our ecosystem.
The benefits of our ecosystem from this innovation are quite simple. A user who provides as much information as possible about his transaction history across multiple chains will need less assurance than a user with an unclear transaction history. This provides a transparent view to other lenders or borrowers which in turn creates a safer ecosystem. Users providing this information will also have additional access to $ RAIN tokens available to borrowers without requiring additional collateral. The number of tokens a borrower can receive is based on the user’s Aggregate transaction history of the rank value derived from Oracle’s Rain Off-Chain Analytics. The formula for determining the amount of $ RAIN tokens to be lent is as follows:
RAIN = Amount to borrow + Transaction History / Amount to secure
Off-Chain API interface for third party integration with other companies, protocols, developers and deFi applications will be provided. Some of the key features that will be available include multiple POST and GET endpoints for multiple Layer 1 and Layer 2 Ethereum chains. Over time, other features will be introduced, some of these features are: Integration with external data providers and directories, Decentralized account blacklist tracker, smart contract analysis, on-chain and off-chain equity and asset measurement, loan aggregation engine, Joint AMM across the chain, Investment Intelligence, and many more will be released in the future free to members of the $ RAIN community.
Oracles provide solutions to transparency problems that face many defi projects. By releasing chain information and supplying data in an unchanging manner, Rain.Credit Oracle enables smart contracts to pull data from blocks containing the information needed. The information that Rain.Credit oracle sends will include things that the blockchain cannot track or monitor. This includes payment history of users across multiple chains, real world economic events, government policy changes, and user account history.
By providing a completely transparent layer, trust is embedded in both lenders and borrowers. Instead of blindly lending crypto assets to someone without a history of proof of previous loan eligibility, the lender can view the user’s previous payment history with other lending protocols and determine the required collateral amount dynamically (more for risky lenders). This allows the lending protocol to have more precise control over asset allocation for specific users depending on their credit score. Other external factors could also influence this belief, but they would not have been possible without the information Rain provided Oracle Credit.
By taking advantage of the Collateral Payable Position used by Compound, Aave, Cream and other providers while also aggregating the assets collected through our AMM. The user will have a completely different experience that is not seen with other loan providers. With $ RAIN, you can borrow up to 70% of your collateral (for example you can borrow 70 BNB and the equivalent in BUSD, DAI or any other stable coin with 100 BNB posted as collateral).
Users who take an additional $ RAIN loan token will be charged additional interest and must meet the payment on time. If the user is unable to meet the repayment agreement before the liquidation occurs, the user will be subject to a less positive analytics rating which will reduce their chances of getting another loan on the platform.
Tokenomics
$ RAIN has a simple distribution model. The total supply consists of 800,000 $ RAIN. The distribution of tokens is as follows:
40% will be sold via presale.
20% will be used for project development.
20% will be used to provide liquidity and agricultural products.
10% tokens will be allocated to the team (For 2 years, these tokens will be locked to instill trust in the community).
10% will be used for marketing.
Rain.Credit Roadmap
K2–2021 (Musim Testnet)
Our focus for the second quarter of 2021 is to equip the platform with Oracle and the Lending platform to work effectively on the testnet in record time. We also aim to further build on the Oracle platform by building a “Trust Network”, which motivates data providers.
- $ RAIN token Presale (read more)
- Exchange List
- Testnet Off-Chain Aggregation Oracle Analytics
- Testnet Loan Platform.
- Testnet Trust Network
- Launch of Betting and Deflation Farming
K3–2021 (Musim Mainnet)
Our focus for the start of the third quarter of 2021 is to equip the platform with Oracle and the Lending platform migrating from Testnet to Mainnet in record time. We also aim to further build on the Oracle platform by launching a “Trust Network”, which incentivizes data providers.
- Contract Audit Loan and Oracle
- Mainnet Off-Chain Oracle Analytics
- Mainnet Loan Platform
- Aggregated Data Provider
- Trust Network
- RAIN Oracle Hackathon
K4–2021 (Middleware season)
This quarter will be heavily focused on mid-sized device integration and a period that will appeal to our community with the launch of the RAIN Drop RAIN Governance.
- Oracle Network Release 2.0 (Beyond Aggregation Analysis)
- Off-Chain Oracle Marketplace release supporting multiple chains
- RAIN GraphQL Abstraction Layer Launched
- RAIN DAO Governance
- Release of Off-Chain Asset Management and Monitoring Platform
- Release of Off-Chain Asset Management and Monitoring Platform (One-Click Integration with non-blockchain based platforms)
- Comprehensive API Release and Documentation
K1–2022 (Cross Season)
The First Quarter will see a focus on Cross-Chain integration outside the Ethereum network with the aim of making our services available on various blockchain networks.
- Cross Chain Collateral Loans
- Launch of the Cross-Chain Oracle
- Smart Contract Analysis Platform
- Cross-Chain Trust Score (Outside the Ethereum Network)
- Asset Group Trust Score
- Continuous development and improvement of the Trust Network
- Academic research and publication of the impact of Trust Score in the DeFi sector
Tim Kredit Rain
Rainbuilder / Developer Lead
Greetings /
Drizzle Developer /
Monsoon Community Manager / UI / UX Designer
Conclusion
Rain.Credit takes the opportunity to create a more trustworthy ecosystem while also providing incentives to participate in borrowing and lending to increase users’ Credit scores. The use of off-chain analysis to build trust in lending and borrowing in the deficit space is something that has not been explored before the loan has been processed. With the ability to use real-life information and events as a factor in decision making, users need not worry too much about credibility, trustworthiness, higher assurance factors, and focus on using their assets to help grow their portfolios while participating in innovative and innovative platforms. + s
I For more information on RAIN.CREDIT, click the link below
OFFICIAL LINK WEB SITE: https://rain.credit/
TWITTER: https://twitter.com/rain_credit
TELEGRAM GROUP: https://t.me/joinchat/UqEl0GyJZ4WkDUWR
GITHUB: https://github.com/orgs/Rain-Credit
MEDIUM: https://rain-credit.medium.com/
DISCORD: https://discord.gg/aEc7NWbU
by AlphonsoDavies
link url ;https://bitcointalk.org/index.php?action=profile;u=3122525
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