Nomis
Inspiration
Nomis is a Credit Karma for DeFi or a lending aggregator that smartly connects borrowers with DeFi protocols offering custom loan terms based on borrowers’ on-chain credit scores.
Nomis is designed to make DeFi lending terms even more attractive than TradFi ones for mainstream borrowers and underserved populations. We believe that there is no mass adoption until the problem is solved.
What it does
Nomis pieces user DeFi identity together from different chains by collecting and processing on-chain data from L1s and L2s.
Nomis makes DeFi borrowing as easy and fast as TradFi by providing users with a friendly web2-like interface and experience.
Nomis helps to leverage user on-chain reputation and find the most relevant lending offers based on web3 footprint.
How it works
Nomis provides borrowers with credit scores based on their multi-chain activities, thanks to the best-in-class credit score algorithm behind it.
Nomis enables and incentivizes DeFi lending protocols to hire credit score data to offer custom terms for borrowers. The protocols, in their turn, get an opportunity to optimize their business and risk models and get more clients.
Nomis, as an aggregator, smartly connects borrowers with the most relevant offers from DeFi lenders.
Differentiation
Nomis hires the DeFi lending aggregator model to bring mass adoption closer and respectfully treat the web3 principles. In contrast, a vertically-integrated model (e.g., Roci.Fi) eliminates competition and oppresses borrowers, and a credit score provider model (e.g., Bird.Money) doesn’t solve the borrowers' identity and UX problems.
What we built during the Hackathon
As far as Nomis is designed for piecing user DeFi identity together, we're more than motivated to continue developing Nomis (credit) Score on top of Ethereum.
As a result of the Hackathon, we've improved a credit score MVP for Ethereum wallets based on on-chain data (the MVP is open-source). We also have developed API and its documentation for Ethereum developers.
Moreover, we added an NFT-functionality to the MVP for Ethereum wallets. You can mint your non-transferable dynamic NFT that contains the wallet’s current credit score.
Our Hackathon roadmap was as the following:
Extracted wallet and transaction data from Near and constructed initial variables;
Aligned the Nomis mathematical model to the variables extracted;
Developed credit score and UI for Near wallets;
Developed API for Near developers and its documentation.
How we built it
We hired Etherscan API to get wallet, transaction, and NFT-movement data.
We constructed variables, which can be received via Nomis API, based on the data extracted.
Finally, we hired our mathematical model to develop Nomis (credit) Score based on the constructed variables.
Our solution is based on the .NET 6 platform and the ASP Net Core framework. We used the Docker toolset to build and deploy the solution. To build, run the following command: docker build -f src/Common/Nomis.Web.Server.Common/Dockerfile -t nomis-web-api . docker -dp 80:80 nomis-web-api
What's next for Nomis
We'll continue developing Nomis on top of Ethereum to help mainstream borrowers and underserved populations get alternative access to capital.
We aspire to incentivize lending protocols built on the Ethereum Ecosystem to hire the Nomis credit score data and provide borrowers with more attractive lending terms.
We're preparing a fundraising campaign to leverage our strong technical capability and build best-in-class credit score and lending aggregator solutions.