Zoracles launches Unibond Financial NFT Marketplace

A credit score is a statistical value or number that helps lenders assess the creditworthiness of their customers based on credit and past repayment history. Zoracles Developed an on-chain solution called Zora Score to calculate the creditworthiness of an Ethereum wallet based on factors such as wallet age, DeFi activity, and loan repayment.

Credit scores are standard in conventional finance and are essential for making and issuing loans. Zoracles has developed an API for Zora Score that allows decentralized crypto-lending platforms not to require collateral due to their account registration. This was the first of its kind in cryptocurrency projects and protocols.

The Zoracles product team will implement the Zora Score in the NFT Marketplace to serve as a data point for buyer and seller reputation. Hacks are common in DeFi, and this metric protects market participants from dealing with people with a bad reputation for DeFi or in connection with blocked wallets.

Zora Score was very different from the usual scoring system of a rating agency. Consumers have the opportunity to enhance traditional creditworthiness through complementary products and services from companies such as Credit Karma and credit partners such as banks.

In this age of financial uncertainty and rapid progress, the pace of crypto protocol development is no different. Zoracles contacted several major protocols that requested that their Zora Points be submitted prior to implementation. Subsequently, the team developed an NFT exchange product to meet the needs of the lender’s most comprehensive protocols and sparked a strong interest in the standalone product. The product has evolved and includes not only the exchange of NFTs, but also data analysis to assign a value to these NFTs.

Next Evolution: Unibond

In early May, Uniswap v3 introduced a concept called Concentrated Liquidity Positions, expressed as NFT. Generally, liquidity providers are tasked with setting a price range for their token pairs. These positions are converted to NFT based on the unique parameters underlying each asset.

Uniswap v3 NFT is currently an underserved market, while sales of art and collectible NFTs will reach over 2.3 billion in 2021.

Zoracles You plan to use as much data analytics as possible to help buyers and sellers price your liquidity positions based on the percentage of time the team spends in the area and other factors the team is currently considering, including historical APY. This will solve a fundamental missing piece that other NFT markets have in Uniswap NFT Assets that does not guide the price of this new asset class.

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