RociFi Overview
- What is RociFi?
RociFi is a decentralized credit economy with on-chain credit scores designed to facilitate under-collateralized lending. It assesses users' creditworthiness based on their transaction history across multiple EVM-compatible chains. NFCS tokens, Non-Fungible Credit Score, are soulbound, meaning they are non-transferable and permanently linked to the owner’s digital identity.
- Main Features
- On-chain scoringCapital-efficient lendingLowest collateral ratiosNo KYC for borrowersNo deposit lookup for lenders
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Frequently asked questions
These data points are analyzed to generate a credit score for each user, which is then represented by the non-fungible credit score (NFCS) token. The credit score is classified on a scale from 1 to 10, with 1 being the most creditworthy and 10 being the least.
Credit scores are calculated using the RociFi credit scoring algorithm, which takes into account various data points across multiple EVM-compatible chains such as Ethereum Mainnet, BSC, Avalanche, Polygon, and Optimism. These data points include borrowing and repayment behavior on DeFi lending protocols, liquidity provision and trading activities, and balance changes over time.
If you don't repay your loan on RociFi, your collateral will be liquidated at the date of maturity plus the grace period. The liquidated collateral will be sold for USDC and returned to the pool. After the loan matures, the interest rate becomes 2x higher than the standard rate. The longer you wait to repay, the more interest you will have to pay.
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