RociFi – Credit Scores for DeFi
Christopher Brookins is the co-founder of RociFi, a DeFi primitive for on-chain scoring and capital-efficient lending.
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Why you should listen
RociFi enables borrowers with clean EVM-compatible on-chain history and reputation to borrow with collateral while offering lenders a high, stable deposit yield.
In order to borrow on RociFi, users must mint an ERC-1155 token, NFCS (Non-Fungible Credit Score). The NFCS proves ownership of the address bundle that the borrower wishes to be credit scored.
The need for a unique, non-transferable on-chain credential that unlocks greater utility and safety across Web3 has grown in interest since Vitalik Buterin’s recent post about “Soulbound” tokens.
RociFi’s NFCS (Non-fungible credit score) is designed to be Web3’s first, verified token for credit, reputation, and trust.
As the need for on-chain reputation and credit scoring grows, Chris says RociFi is moving away from under-collateralized lending and will focus on credit scoring, expanding utility, and integration with other projects. Potential future directions for the protocol include reconfiguring credit scores for lower borrow rates or partnering with existing liquidity pools.
There is an upcoming token launch for ROCI via an IDO which will unlock elements of integration and collaboration in their platform. They aim to grow liquidity responsibly and decentralize the credit scoring apparatus. After token launch, the core team plans to introduce an incentive and staking system designed to attract and retain sticky token holders that promote long-term growth and sustainability of the protocol.
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