Quote from: jc12345 on February 20, 2022, 09:20:43 PM

I was quite excited to see a credit score mechanism being worked on that can be used in the DeFi ecosystem. Of all the items you list this point is the most interesting. However reading the Telescore API section of the lightpaper I am wondering if you are measuring the correct attributes to determine someone's credit worthiness to re-pay a loan? You list the following attributes:

1. How many transactions in wallet?
2. What’s the wallet balance?
3. Time holding coins
4. Telefy protocol usage (Extra score!)
5. NFT transactions
6. Amount owned and repaid
7. Credit History Length
8. Any Collateralized Liquidation History
9. Cross Chain wallet transaction validation

These things can give you a score, but is it a score that can be applied to determine if the holder will pay back a loan? I am skeptical that about the principle of calculating a credit score in this case. The best way to secure a loan would be to lock up collateral in a contract that will automatically go the lender in the case of default. This plays closer to point 8 in the list. However locking something into a contract as collateral is independent of a credit score. I think most items on the list are irrelevant to determine if someone will pay back a loan. Some people for example store coins/tokens in new addresses because some consider that best practice. These people might be the lowest risk to pay back a loan yet they will be penalized?

I also note you have swaps functionality going, can you point us to your audits for your contract?

Tele score is determined based on different parameters that includes any collateralized history, length of credit history etc., Tele score will basically determine the APY instead of just Lending pool utilization, the better Tele score u have u will get less APY vice versa. Tele Lend will still take collateral and collateral manger will get executed if the borrower liquidates > X% which was mentioned in the light paper. Hope this clears your question. Yeah we are working on the contracts getting audited, will provide you the report when its done.

Quote from: 24Kt on February 21, 2022, 08:49:50 PM

Quote from: jc12345 on February 20, 2022, 09:20:43 PM

I was quite excited to see a credit score mechanism being worked on that can be used in the DeFi ecosystem. Of all the items you list this point is the most interesting. However reading the Telescore API section of the lightpaper I am wondering if you are measuring the correct attributes to determine someone's credit worthiness to re-pay a loan? You list the following attributes:

1. How many transactions in wallet?
2. What’s the wallet balance?
3. Time holding coins
4. Telefy protocol usage (Extra score!)
5. NFT transactions
6. Amount owned and repaid
7. Credit History Length
8. Any Collateralized Liquidation History
9. Cross Chain wallet transaction validation

These things can give you a score, but is it a score that can be applied to determine if the holder will pay back a loan? I am skeptical that about the principle of calculating a credit score in this case. The best way to secure a loan would be to lock up collateral in a contract that will automatically go the lender in the case of default. This plays closer to point 8 in the list. However locking something into a contract as collateral is independent of a credit score. I think most items on the list are irrelevant to determine if someone will pay back a loan. Some people for example store coins/tokens in new addresses because some consider that best practice. These people might be the lowest risk to pay back a loan yet they will be penalized?

I also note you have swaps functionality going, can you point us to your audits for your contract?

The criteria are indeed not an assurance that a borrower will respect the loan agreement. But maybe, they are just getting the approximate credit score according to their identified attributes. But a collateral is still needed to ensure that if in case, the borrower will have lapses, the lender has something they can get. And you are right, it should be different from the credit score itself.
Also, waiting if the team will disclose the background links of their team members not only their git repo.

Collateral is of-course required to safeguard the Lenders but APY will be determined based on the TELE score. APY is going to dynamic and will be different for every user based on their TELE score

Quote from: holydarkness on February 22, 2022, 08:59:20 AM

Quote from: jc12345 on February 20, 2022, 09:20:43 PM

I was quite excited to see a credit score mechanism being worked on that can be used in the DeFi ecosystem. Of all the items you list this point is the most interesting. However reading the Telescore API section of the lightpaper I am wondering if you are measuring the correct attributes to determine someone's credit worthiness to re-pay a loan? You list the following attributes:

1. How many transactions in wallet?
2. What’s the wallet balance?
3. Time holding coins
4. Telefy protocol usage (Extra score!)
5. NFT transactions
6. Amount owned and repaid
7. Credit History Length
8. Any Collateralized Liquidation History
9. Cross Chain wallet transaction validation

These things can give you a score, but is it a score that can be applied to determine if the holder will pay back a loan? I am skeptical that about the principle of calculating a credit score in this case. The best way to secure a loan would be to lock up collateral in a contract that will automatically go the lender in the case of default. This plays closer to point 8 in the list. However locking something into a contract as collateral is independent of a credit score. I think most items on the list are irrelevant to determine if someone will pay back a loan. Some people for example store coins/tokens in new addresses because some consider that best practice. These people might be the lowest risk to pay back a loan yet they will be penalized?

I also note you have swaps functionality going, can you point us to your audits for your contract?

I think they're following AAVE's step, back when they were still ETHLend. Not sure what's changed or this factors and services still works after the rebranding --I didn't follow AAVE much, just had a brief interest on LEND-- but they used to assume that the owner of the account would value their credibility tied to the account on a significant degree that they'll get reluctant to get default, as once they get default, their credit score on the account will be damaged.

This method matched their points from 6 to 8, where the history of their borrowing activity is put into factor and helps determining their credit score.

Yes you are right!