About Rain.Credit: The best lending platform in the Future
![](https://steemitimages.com/640x0/https://miro.medium.com/max/640/0*ZPVZX1NBkvXcusK9.png)
Rain.Credit is a BEP20 token on the Binance Smart Chain which acts as a non-custodial Off-Chain Data analytics Oracle Aggregator providing concise Credit rating on a user’s address. This credit rating is used to provide a better collateral factor for digital asset lenders and borrowers on the rain platform. Rain.Credit is based on the current decentralized lending platforms and protocols, but with various changes to bring an even more innovative design and experience.
What makes us so unique is how we will use Aggregated Off-Chain analytics to help reduce investors exposure when they begin to interact with our ecosystem.
The way our ecosystem benefit’s from this innovation is quite simple. A user who provides as much information as possible regarding their transaction history across multiple chains, will require less collateral than a user with opaque transaction history. This provides a transparent view to other lenders or borrowers which in turn creates a safer ecosystem. Users who supply this information will also get additional access to $RAIN tokens which is available to borrowers without needing any additional collateral. The amount of tokens a borrower can receive is based on the user’s Aggregated transaction history from the rain Off-Chain Analytics Oracle derived rating score. The formula to decide the amount of $RAIN token to be lent is as follows:
RAIN = Amount to borrow + Transaction History / Amount to secure
An Off-Chain API interface for third party integration with other companies, protocols, developers and deFi apps will be provided. Some of the key features that will be available include multiple POST and GET endpoints for multiple Ethereum Layer 1 and Layer 2 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 and off chain measurement of equity and assets, Loan aggregation engine, Shared AMM across multiple chains, Investment Intelligence and so much more will be released in the future and will be free to the $RAIN community members.
Oracles provide a solution to the transparency issue many defi projects face. By taking off chain information and supplying the data in an immutable way, the Rain.Credit Oracle enables smart contracts to pull data from from blocks that contain the needed information. The information transmitted by the Rain.Credit oracle will include things that can’t be tracked or monitored by the blockchain. This includes user payment history across multiple chains, real world economic events, changing government policies and user account history.
By providing a completely transparent layer, trust is entrenched by both lenders and borrowers. Instead of blindly lending someone a crypto assets without any sort of history of proof of previous fulfillment of lending requirements, a lender can look into the users past payment history with other lending protocols and determine the amount of collateral required dynamically (More for risky lenders). This allows the lending protocol to have a more fine grained control on asset allocation to a particular user depending on their credit score. Other external factors can also influence this confidence, but it would not be possible without the information the Rain.Credit Oracle provides.
By taking advantage of the Collateral Debt Position which is utilized by Compound, Aave, Cream and other providers while also combining pooled assets through our AMM. User’s will have an entirely different experience not seen with any other lending providers. With $RAIN, you can borrow the sum of up to 70% of your collateral (for example you can borrow 70 BNB and its equivalent value in BUSD, DAI or any other stable coin with 100 BNB posted as collateral).
Users who take out additional borrowed $RAIN tokens would be subject to additional interest and would have to fulfill payment at a set time. If the user is unable to fulfill their payback agreement before a liquidation occurs, the user would be subject to a less positive analytic rating which would lessen their chances of being granted another loan on the platform.
Rain.Credit is taking the opportunity to create a more trustworthy ecosystem while also providing an incentive to participate in borrowing and lending to increase a user’s Credit score. Off-Chain analysis utilization to build trust in lending and borrowing in the defi space is something that has not been explored before loans are processed. With the ability to use real life information and events as a factor in decision making, users can worry less about credibility, trustworthiness, higher collateral factor and focus on using their assets to help grow their portfolios while participating in an innovative and trailblazing platform.
For more information:
Website: https://rain.credit/
Telegram: https://t.me/joinchat/UqEl0GyJZ4WkDUWR
Twitter: https://twitter.com/rain_credit
Author: thanhtrasjba
Forum Profile Link: https://bitcointalk.org/index.php?action=profile;u=2627413
Yo, just wanted to give a shoutout to Instant Credite for saving my butt when I needed some quick cash! Their process was super easy and hassle-free – I filled out a simple application online and got approved in no time. Plus, the funds were deposited into my account almost instantly. If you're in a pinch and need some extra dough, definitely check out Instant Credite!