Challenges
Most Useful Web3 Tool
We believe our project justifies submission for the acceptance criteria. Please see the README at the GitHub link which outlines more details for this specific bounty.
#BUIDLathon 2023 DeFi Track
We are qualified because we meet the acceptance criteria. We think that Janka Score could be a cool new thing that would be good for DeFi users.
Best Use of Existing Subgraph(s)
We believe our project justifies submission for the acceptance criteria. Please see the README at the GitHub link which outlines more details for this specific bounty.
Web3Modal DeFi Challenge: Making Bank (Without the Banks)
We believe our project justifies submission for the acceptance criteria. Please see the README at the GitHub link which outlines more details for this specific bounty.
Build new signal adapters
We believe our project justifies submission for the acceptance criteria. Please see the README at the GitHub link which outlines more details for this specific bounty.
Covalent Unified API Bounties
We believe our project justifies submission for the acceptance criteria. Please see the README at the GitHub link which outlines more details for this specific bounty.
Get crazy with dynamic NFTs hosted on the Internet Computer
We believe our project justifies submission for the acceptance criteria. Please see the README at the GitHub link which outlines more details for this specific bounty.
Build on Base 🔵
We believe our project justifies submission for the acceptance criteria. Please see the README at the GitHub link which outlines more details for this specific bounty.
Transparent Bridge
We believe our project justifies submission for the acceptance criteria. Please see the README at the GitHub link which outlines more details for this specific bounty.
Spectral.finance's Bounty
We believe our project justifies submission for the acceptance criteria. Please see the README at the GitHub link which outlines more details for this specific bounty.
Build Web3 Businesses at Scale
We believe our project justifies submission for the acceptance criteria. Please see the README at the GitHub link which outlines more details for this specific bounty.
Project details
The Problem:
A lack of transparency in DeFi lowers trust which leads to capital inefficiencies. Users are required to meet burdensome collateralization requirements and lenders are challenged with identifying reputable parties. Traditional finance relies vetting processes which are often biased, deeply intrusive, and incompatible with decentralized approaches.
The Solution:
We have an opportunity to use transparency to increase trust in DeFi. The issue is not necessarily that the data is not available, but that it is difficult to make sense of quickly and in a way that can be broadly and fairly applied. Historic on-chain data is often discarded due to a perception of being low value and lacking in novel insights. Janka believes there is an opportunity to focus on action instead of identity, by distilling and simplifying complex transaction histories into a simple to understand score. By evaluating lending events across multiple chains and protocols the Janka Score is able to reflect the probability that a user is going to repay a loan, using known rules and an approach that can be reproduced and verified by anyone.
We do not expect this initial score to be complete or perfect. However, we aim to provide a foundational paradigm which can be further directed by a decentralized community, such as a DAO or DAO-like structure. This will allow for those being 'judged' by the score to have a direct say in how the score is calculated. A self-imposed score means that creditworthiness is able to be based in fact, not an opaque process controlled by a third party.
Janka Score does not aim to be a definitive assessment, but a high quality signal that is available to everyone as a public good. Let's ensure that DeFi remains rooted in transparency, community, and truth.