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Lendvest Joins Chainlink BUILD To Advance Its DeFi Credit Score Framework

Traditional finance uses credit scores to assess the risk of individual borrowers based on factors like loan and payment history. Without a credit score equivalent, decentralized finance (DeFi) platforms rely on over-collateralization and face increased liquidation risk and reduced capital efficiency.

Lendvest is a platform that aggregates on-chain data to create a decentralized credit score framework for DeFi. With the ability to algorithmically assess individual user risk based on cross-chain data, DeFi protocols can maximize risk-adjusted returns and optimize terms for each user. 

This week, Lendvest announced it is joining Chainlink BUILD to accelerate the development of its decentralized credit score framework. The Chainlink BUILD program fosters promising early-stage startups in Chainlink’s ecosystem, which receive enhanced access to key infrastructure and technical support in exchange for paying fees that incentivize Chainlink service providers and boost the network’s cryptoeconomic security.

Lendvest’s team said that participating in BUILD will allow the platform to deepen its integration of Chainlink services such as Chainlink Functions, which retrieves data from any API, while accelerating Lendvest’s adoption by mutually aligning incentives with Chainlink and its vast ecosystem of web3 projects.

“We are confident that, with the support of Chainlink BUILD, fellow member projects, and the Chainlink community, Lendvest will expand and become a valuable contributor to both Chainlink and the broader Web3 ecosystem,” said Lendvest’s Head of Business Development, Faheem Hoosain. “Lendvest is committed to bringing true transparency to DeFi credit scoring, and we are excited to see what the future holds.” 

“We’re excited to join Chainlink BUILD to gain access to industry-leading Web3 services, technical support, and a robust cryptoeconomic model that empowers Lendvest to build a decentralized credit score for DeFi,” said Lendvest co-founder Joshua Gottlieb. “We look forward to continuing our collaboration together and we welcome the Chainlink community to actively participate in verifying Lendvest’s on-chain credit scores in the near future.”

To learn more about Lendvest visit their website, Twitter, and Telegram.

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