This project is a dapp built using ReactJS that leverages the Internet Computer Protocol (ICP) and Bitfinity to compute on-chain credit scores for EVM-compatible wallets. Using Covalent API for data acquisition and analysis, this application aims to provide a comprehensive, transparent, and secure method of calculating creditworthiness based on a user's blockchain transaction history and represent it on-chain as a ERC721 non transferrable NFT.
How the scoring model works
Step 1: Data Acquisition
Data Points Gathered:
- Average balance over the previous six months
- History of incoming and outgoing transactions
Step 2: Data Analysis
- Wallet activity frequency
- Presence of a recurrent income or salary
- HODL'd assets
- Gambling behavior
- Any interactions with sanctioned or flagged wallets
Red Flags and Exclusions:
- Wallets with less than 3 months of history or fewer than 20 transactions are either rejected or require additional wallets for a valid score.
- Immediate red flags are raised for interactions with sanctioned wallets, setting the score to zero.
- Negative scoring for zero-value transactions containing begging messages in the data field.
Step 3: NFT Minting
After a successful analysis, an NFT representing the user's on-chain credit score is minted. This NFT serves as a verifiable credential of the user's financial behavior on the blockchain.
- Frontend: ReactJS
- Blockchains supported: All EVM-compatible ones
- Tokenization: ERC-721 standard for the credit NFT
- make the NFT cross-chain for interoperability
- expand the number of chains analysed