Gora Announces Merger with RociFi

For over seven months, RociFi has been instrumental in providing on-chain credit scores for EVM wallets on Algorand through Gora’s network. This successful partnership now paves the way for even greater advancements. Through this period of collaboration, both oracle solutions have identified a path for synergy. Gora and RociFi recognize that by combining their strengths, they can create a more impactful and robust project.
The resulting force unlocks a new wave of use cases within DeFi by offering, among other services:

• Reliable Collateral Price Feeds: Gora’s oracle ensures performant price feeds, even for longtail tokens, crucial for calculating loan-to-value ratios and health factors.
• Wallet-Level Credit Data: RociFi’s expertise in credit scoring equips the Risk Oracle with the ability to assess creditworthiness on an individual wallet basis, further enhancing risk assessment capabilities.

Projects integrating this new kind of “DeFi Risk Oracle” will gain real-time access to comprehensive wallet information, enabling:

• Sybil-Resistant Governance: Prevent manipulation by ensuring fair representation in voting processes.
• Customized Borrowing Terms: Offer attractive rates to retain high-value users.
• Targeted Airdrop Incentives: Reward the most active and engaged users within your ecosystem.
• Transparent Protocol Health: Gain insights into protocol risk and solvency for informed decision-making.

Relevance for RociFi

The merger operates under a 50/50 structure, with the $ROCI token transitioning into the Gora Network ecosystem. $ROCI holders will benefit from a seamless 1:1 conversion to $GORA, unlocking exciting opportunities:

• $ROCI to $GORA Conversion: Holders can convert their tokens for immediate participation in the Gora network.
  Details on $ROCI conversion to $GORA have been released, and you can find more details here: https://blog.roci.fi/roci-conversion-details-557fdbc3239c
• Node Operation and Staking: $ROCI holders will become $GORA holders who can run nodes and earn attractive APR rewards through staking.
• Faster Product Roadmap: The RociFi community enjoys a nine-month acceleration of their product roadmap by integrating with Gora’s existing oracle network.

Opportunities for Gora

The Gora community gains access to the robust RociFi on the EVM ecosystem, fostering wider multichain and DeFi adoption for Gora. This includes:

• Enhanced GoraFi Launch: The highly anticipated cross-chain Gora.Fi platform will leverage RociFi’s expertise to implement fairer token distribution through EVM wallet information integration.
• ERC-20 $GORA Token: A tradable ERC-20 version of $GORA will launch on EVM-compatible DEXs in early April, facilitating seamless conversion for $ROCI holders.

For Gora, the merger with RociFi opens up new possibilities. We expanded our reach to the EVM and TradFi (Traditional Finance) chain spheres. Gora.Fi, our DeFi platform, will receive a boost with RociFi’s expertise in ETH by incorporating valuable wallet information for fairer token distribution and new use cases, and Gora Network will welcome a team with strong business management experience and knowledge. in the EVM ecosystem, which will propel Gora to new heights in the blockchain space.

Gora is now positioned to play a more prominent role in shaping the future of DeFi and bridging the gap between decentralized and traditional finance.

Unlocking New Use Cases: Unvested Token Lending

To celebrate this momentous occasion, Gora and RociFi will collaborate with Qoda Finance, a peer-to-peer lending protocol on Arbitrum, for a groundbreaking pilot project. This pilot will explore a novel use case in DeFi — unvested token lending. Read more here:
https://goranetwork.medium.com/unlocking-liquidity-goras-role-in-unleashing-lending-against-unvested-tokens-4aed3c0ccfd9?source=friends_link&sk=6d821cfae112c6367b410d4148bc2578

About RociFi

RociFi is a decentralized credit economy with EVM on-chain credit scores designed to facilitate under-collateralized lending. It consists of an on-chain lending protocol and off-chain credit scoring API, leveraging on-chain data, machine learning, and loan risk management to enable under-collateralized loans via the blockchain. RociFi aims to quantize credit and facilitate on-chain under-collateralized lending, providing a unique solution within the decentralized finance (DeFi) space.
For more information on RociFi visit: https://roci.fi/

About Gora

Gora is an oracle platform that provides secure, reliable, and decentralized data feeds for Algorand and other blockchains. With a mission to enable seamless data integration for smart contracts, Gora empowers projects to make data-driven decisions and unleash the full potential of dApps. Gora is a product of Gora Network.
For more information on Gora visit: https://www.gora.io/
Want to stay in the loop? Join our vibrant Gora communities on Discord and Telegram.

Disclaimer

While the merger is a complex process with commercial and community considerations, both Gora and RociFi are committed to keeping their communities updated throughout the integration, on the appropriate channels of each project. We will continue to share relevant details as they become available.

The information provided in this article regarding the Gora Network and RociFi merger is for informational purposes only and does not constitute financial advice. Gora Network does not endorse or recommend any specific investment decisions and reminds readers to conduct their research before taking any financial actions.