ScoreMe

TL;DR

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.

CODE: https://github.com/OxMarco/ScoreMe

VIDEO: https://youtu.be/EDILRsuhh6c

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

Indicators Extracted:

  - 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.

Technologies Used

- Frontend: ReactJS

- Blockchains supported: All EVM-compatible ones

- Tokenization: ERC-721 standard for the credit NFT

Future Work

- make the NFT cross-chain for interoperability

- expand the number of chains analysed