Tag: CERTIK
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What are the ERC-20 Tokens Supported by Coins.ph
In this guide, we list the ERC-20 tokens currently supported by mobile wallet Coins.ph in the Philippines.
The post What are the ERC-20 Tokens Supported by Coins.ph appeared first on BitPinas.
Crypto Credit Scoring Protocol CreDA Partners with FilDA to offer Leveraged and Low-Collateral Lending
New York, NY, Jan 14, 2022 - (ACN Newswire) - CreDA (Credit DeFi Alliance), the leading decentralized credit rating service and FilDA, the largest ever DeFi lending platform on HECO with a peak TVL of over US$2 billion, have partnered to offer exclusive lending rates to CreDA users. Users who mint their Crypto Credit Score as a Credit NFT (cNFT) will have access to leveraged lending and low or no-collateral loans directly within the CreDA platform.
The partnership comes only a few months after CreDA officially launched its platform and demonstrates the value Crypto Credit Scores can have by removing many of the barriers in traditional banking and the DeFi space. According to Bank of America, over 200 million users are now part of the digital asset universe, yet very few financial institutions would provide them with a loan. Even within the DeFi space, lenders operate in an over-collateralized manner with typical loan-to-value (LTV) ratios below 50 per cent.
Modeled after traditional consumer credit agencies, CreDA introduces the concept of personal credit scores into the $250 billion decentralized finance (DeFi) ecosystem.
Leveraging existing blockchain infrastructure, CreDA provides a trust architecture for the relatively young and volatile MetaFi ecosystem that includes emerging areas such as DeFi, GameFi and SocialFi.
"While our core business is focused on supporting the overall ecosystem through trusted and verifiable credit scoring, ours is a new concept for this space. By partnering with FilDA we hope to demonstrate the value and viability of the CreDA Credit Score to reward both users and lending institutions by brokering more transparent and trusted relationships," explains Fakhul Miah, incoming Chief Executive Officer. "We like to say that we're finally giving credit where credit is due."
How to get leveraged, low or no-collateral loans
CreDA allows users to link their wallets, mint a credit NFT (cNFT) and borrow at industry-defying rates, all from within the same platform.
CreDA provides on-chain credit ratings using the CreDA Oracle, which employs artificial intelligence (AI) to examine the user's assets, historical transactions and behavior in the crypto space across multiple blockchains. This data is used to calculate a credit score that is then minted into a secure non-fungible token called a credit NFT (cNFT). The cNFT enables the user to unlock preferential rates and incentives.
The FilDA partnership lets users access leveraged lending and low or even no-collateral loans based on the users Crypto Credit Score. The score represents a user's ability and willingness to pay back loans, de-risking Filda's exposure and rewarding the user for good on-chain behavior.
One major focus for CreDA is ensuring a safe and secure experience for users. To do this, data is fully protected, secured by industry leading, W3C compliant Decentralized Identifications (DIDs), which are linked to a user's cNFT. CreDA recently underwent a strict security audit with leading blockchain security group, CertiK.
About CreDA
Built on the Ethereum Layer 2 network, CreDA operates on Arbitrum with developers aiming to launch across multiple chains including, BSC (Binance Smart Chain), Ethereum mainnet and ESC (Elastos Sidechain) in Q1 of 2022 with more to follow throughout the year.
CreDA's Credit Oracle has already retrieved the data of billions of on-chain activities related to more than 90 million addresses across the largest blockchains. This large initial data pool helps to build a reliable and trusted credit model that will continue improving as more data is collected from additional chains and users who connect and mint their credit scores. The CreDA protocol is designed to compute a user's Crypto Credit Score while protecting their identity through the use of a DID, which does away with KYC (know your customer) checks.
The aim for the CreDA protocol is to eventually combine traditional (off-chain) and blockchain (on-chain) data to compute a holistic user credit score that allows for more flexibility and access between people's virtual and 'real world' lives. This will become even more relevant as technology advances and society continues to embrace virtual spaces, such as the Metaverse.
"As Benjamin Franklin once said, 'If you want to know the value of money, try borrowing some!' said Cassie Zhang, Chief Operating Officer during CreDA's launch in late 2021.
"The DeFi landscape is quickly evolving, but there is still one factor that is missing -- credibility. The CreDA protocol enables DeFi and other Web 3 platforms to model risk profiles across their user base and offer personalized rates and services, making them more competitive versus industry peers."
Social Links
Twitter: https://twitter.com/credafinance
LinkedIn: https://www.linkedin.com/company/creda-finance
Discord: https://discord.com/invite/eSvTm6a6kb
Media Contact
CreDA (Credit DeFi Alliance)
E-mail: [email protected]
Website: www.creda.app
SOURCE: CreDA
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.com
Mark Cuban-Backed DeFi App Seashell Promises Up to 10% Returns
Centralization Caused Most DeFi Hacks of 2021, $1.3B Loss to Users in 2021
Certik says the centralization of operational models cited is one of the major faults amongst protocols that suffered mishaps, causing at least $1.3 billion loss to users last year. (Read More)
Centralization Is The Most Common DeFi Vulnerability, Says CertiK Report
The blockchain and smart contract security firm CertiK found centralization risks in more than 16% of all audits performed in 2021. 1,737 smart contract audits in review Throughout 2021, CertiK performed a total of 1,737 smart contract audits. Out of these, 286 audits found a centralization risk. As an example for a hack that occured […]
The post Centralization Is The Most Common DeFi Vulnerability, Says CertiK Report appeared first on CryptoCoin.News.
Bit Rivals Rewards You For Playing Your Favorite Games: Presale Starts January 21
The global market for gaming has grown almost exponentially over the course of the last two decades, reaching an estimated value of more than $170 billion in 2020 with experts predicting the market will double in value by 2026 (Global Gaming Market, Mordor Intelligence Report). While plenty of crypto projects have attempted to capitalize on this segment of the market, one project, Bit Rivals, has carved out a unique niche for itself by bringing the best of gaming and crypto together using a feature-packed play-to-win and play-to-earn ecosystem powered by the $RIVAL token.
The Bit Rivals presale is scheduled to take place on January 21, for whitelisted investors only. However, Bit Rivals has opened two competitions to give you the chance to win a spot on the whitelist. You can either join the Bit Rivals Gleam giveaway or enter the competition in the project's Telegram group.
What is Bit Rivals?
Bit Rivals, which is currently completing the final stages of its Certik audit, brands itself as the ultimate platform for gamers. Their vision is to provide a level playing field by giving gamers of all skill levels more opportunities to earn rewards than rival projects that focus almost exclusively on high-skill, high-stakes eSports tournaments.
The Bit Rivals platform is composed of five main zones that are tailor-made for gamers and crypto investors. All users need to access them is a Rival ID, which is the gateway into the Bit Rivals ecosystem. As players progress in their favorite games, they'll earn badges and achievements that they can use to show off their skills and customize their profile, along with unique backgrounds, avatars, and titles that they can earn through Rival Rewards.
The Rival Arena is where players can win $RIVAL by participating in official tournaments hosted by either Bit Rivals or other Bit Rivals users. Players don't even have to play in tournaments to earn $RIVAL in the Arena. Reputable organizers and users that regularly host and market their own tournaments can collect an organization fee for their effort and can apply to fund their tournament's prize pool using the project's tournament wallet allocations.
The Rival Player Hub is at the heart of Bit Rivals. Players can use the platform's searchable player base directory and built-in VOIP to find, chat, and play with friends or build their own dream team to compete in tournaments hosted in the Rival Arena. The Player Hub also has global and game-specific leaderboards for players to climb and showcase their skills.
Rival Rewards is the way Bit Rivals levels the playing field, with a play-to-earn model that rewards players for playing their favorite games with Rival Points. These Rival Points can be used to buy $RIVAL tokens, cosmetics for users' Rival ID profile, NFTs, and gaming gear such as keyboards, monitors, and GPUs. All users need to do to earn Rival Points is to link their gaming service accounts, such as Steam or Origin, to their Rival ID.
Rival Loot is the official Bit Rivals marketplace, where players can spend their Rival Points and $RIVAL tokens to get rewards such as branded merchandise, hardware, and unique cosmetics. Artists can also use the Rival Loot store as a way to mint and sell their own NFTs for a commission.
Finally, Rival Swap is the platform's built-in DEX tool where investors can stake, swap, and farm $RIVAL. Investors will also be able to exchange BSC $RIVAL for pegged $RIVAL tokens on other platforms, including Ethereum, Matic, and Cardano.
Bit Rivals Launches its Presale on January 21
Bit Rivals will hold a private presale of 250 million $RIVAL tokens, 25% of the overall supply, on January 21 on DX Sale. Whitelisted buyers, as identified by their BSC wallet address, will be the only ones able to participate. Each buyer will have a maximum contribution equivalent to 8 BNB and a minimum contribution equivalent to 0.1 BNB, with an overall hard cap of $750,000.
Whitelist Spots Available Through Gleam and Telegram Competitions
Anyone interested in earning a spot on the whitelist can participate in one of two Bit Rivals-run giveaways. 800 spots on the whitelist will be allocated to the winners of its Gleam giveaway, which closes on January 19 at 12 PM GMT. An additional 20 spots will be given to winners of its Telegram giveaway, with more details available at t.me/BitRivals. All winners of both giveaways will be notified on January 20 via Telegram.
To learn more about Bit Rivals, check out the links below
Website: https://bitrivals.gg/
Telegram: https://t.me/bitrivals
Twitter: https://twitter.com/BitRivals
Instagram: https://www.instagram.com/bitrivals/