• The Landvest Alpha App enables users to view credit scores via both on-chain and off-chain support.
• Chainlink has provided both technical support and oracle data to the Landvest Alpha App development since late July.

Landvest, an upcoming decentralized credit-score protocol that is geared towards democratizing DeFi lending platforms, has announced the launch of its flagship product dubbed Alpha App. The Alpha App was developed to help crypto users obtain reliable data on lending credit scores through on-chain and off-chain avenues.

Notably, the on-chain version of the Landvest Alpha App enables users to connect their crypto wallets with Ethereum’s Sepolia testnet to obtain credit scores. The off-chain version of the Landvest Apha App, on the other hand, enables users to access credit scores through the wallets.

“For users without lending history on Aave v2 (Ethereum), this feature allows them to interact with the dashboard by providing them with wallets that have borrowing data and are verifiable on Etherscan,” Landvest noted in the announcement.

Closer Look at Landvest’s Alpha App and Chainlink Mutual Interactions

The close collaboration between Landvest and Chainlink has existed for several months. In late July, Landvest announced that it had officially joined Chainlink’s BUILD program. As a result, Landvest received technical support on how to build its DeFi platform from the Chainlink team and also had access to Oracle data to ensure the credibility of the project. In exchange, the Chainlink ecosystem benefited from the Landvest integration through the commitment to provide network fees and other notable advantages to the stakers.

“Our participation in BUILD furthers our integration with Chainlink, with added benefits of priority support from the Chainlink ecosystem, increased access to DeFi protocols aiming to capture a larger share of Web3 users, and stronger incentive alignment between the Chainlink and Lendvest communities,” a prior announcement noted.

Through the close collaboration with the Chainlink team, Landvest developed a credit score that divides a wallet address into three categories; low, medium, and high risk. For instance, this wallet address was rated at low risk with a score of 753, after facilitating 16 transactions on the AAVE V2 without any defaults. On the other hand, this wallet address was given a score of 546 after facilitating 5 transactions on AAVE V2 and came very close to being liquidated in its borrowing history.

Currently, the Landvest Alpha App data is limited to transactions that occur on the AAVE V2 lending pool, but the team is working on integrating other lending protocols in the future.

Bigger Picture

The crypto lending industry came to almost a standstill in 2022 following the collapse of several projects led by Celsius, which lost over $4.7 billion of creditors’ funds before filing for Chapter 11 bankruptcy protection in the United States. Since then, credit protocols all over the world have been working to provide more transparency on the funds allocated in different pools to the customers.

In this regard, Landvest came up with a noble idea to democratize the credit score in order to help investors understand the level of risk involved in every transaction.

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