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wrybakiewicz edited this page Apr 3, 2022 · 34 revisions

Credit Score System

Public URL: cryptoscore.me

This doc is describing functionalities of Credit Score System created in:

This app calculates credit score for provided ethereum address based on multiple indicators collected from on-chain activity of the address. Each indicator has it's own wage and details - which are presended in detail on frontend. Every score - main and all of subscores are is in range of 0-1000.

Implemented indicators:

  • Address Lifetime with 25% weight - measures lifespan of address based on first executed transaction. Addresses older than 365 days gets 1000. Every addresses with lifespan between 0-365 days gets its proportional score eg 100 days - 274, 200 days - 574 etc.
  • Social with 10% wage - calculates social score based on number of followers in CyberConnect. Every address with >= 10 followings get 1000.
  • Token holdings with 30% weight - measures average address token holdings from last 30 days. 1000 score is received by addresses which holds >= 100k$ of tokens in last 30 days (it means that address is holding eg. 100k$ for 1 day or eg. 3,33k$ for 30 days). Every amount between 0-100k$ get it's proportional score.
  • Loans with 10% wage - calculate score based on Aave borrowing, repaying and liquidations for address. It uses 3 factors: if first loan was taken >= 1 year ago, if there was any liquidations and which % of borrowings was repayed. Those 3 factors are in range <0,1> and are multiplied by each other and 1000.
  • Twitter with 10% weight - measures number of twitter followers for twitter account connected with CyberConnect. Addresses with > 30 followers get 1000.
  • POAPs with 5% weight - measures POAPs holdings - each POAP is multiplied by number of days which is held, those numbers are summed and if number is > 365 - address get 1000.
  • Friends social with 10% wage - it takes all CyberConnect friends of address and calculate score for them (it uses all metrics except this one). Returned number is average of friend's scores.

Potential improvements:

  • implementing more DeFi indicators based on: Uniswap, Sushiswap, Synthetix, Curve, Balancer, Yearn, etc.
  • implementing NFT indicators
  • implement DAO indicator based on the address activity in DAOs - eg. by using Snapshot voting history

Further ideas:

In our view, project can be developed further in one of the two directions

  • transfering credit score on-chain to be used in no collateral loans protocol - as it's a number that everyone can calculated because the code is open source - it's possible to build an oracle to have it on-chain
  • provide services for communities - many whitelists in crypto projects are spammed by bots and allowing only people with some minimum score may resolve this issue

Deployment:

App is deployed on AWS using Amplify for frontend and Elastic Beanstalk for backend.

Integrated APIs:

  • Address Lifetime - Etherscan
  • Social - CyberConnect
  • Token holdings - Covalent
  • Loans - The Graph with Aave subgraph
  • Twitter - CyberConnect, Twitter
  • POAPs - POAP
  • Friends social - CyberConnect

Example addresses to calculate credit score

  • 0x50b6a9BA0b1cA77Ce67c22b30aFC0a5BbBDB5a18(have connected twitter & friends on CyberConnect & POAPs)
  • 0x0005f124d6a49c29764b1db08546108ca0afeb68(have loans history)

Addresses of builders of this project (for Gitcoin reward)

  • 0xA0Cf024D03d05303569bE9530422342E1cEaF480
  • 0xF07D745Abb3AF5610A1ce1EC00770Ad89f51719a
  • 0x367c0c6015415a3Ce80D4fC3956A75538c6c696b
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