Berlin, April 14, 2022 / PRNewswire /-Reputation DAO, a verifiable, decentralized and programmable reputation service for DeFi, today US $ 4.75 million (Euro 4,365,000) Seed investment from DACM, AirTree Ventures, Koji Capital and Framework Ventures. Sergei NazarovCo-founder of Chainlink also participates as an advisor in Reputation DAO.
The DeFi market continues to grow rapidly, with locked totals $ 200 billion However, the combination of DeFi’s lack of reputation and identity services and lending platforms that require more than 100% collateral means that the potential capital that can flow into DeFi is limited.
Reputation DAO is building a basic infrastructure using Chainlink, and a comprehensive credit system will be introduced to DeFi. This is the equivalent of a traditional financial credit scoring system.
Reputation DAO is the latest project launched by Mycelium, a global network rooted in Australia, building next-generation transaction technologies, including Tracer DAO.Founder Pat McNab Ash Morgan will begin building a reputation DAO in late 2019, opening the black box of DeFi’s existing credit and reputation system and transparently managing it to enable secure and reliable interactions within the DeFi economy. Created a system that has been created.
“DeFi is forming an alternative rail for financial evolution, but with a wealth of risk, credit and identity-related financial data that can be leveraged to unlock new applications within DeFi, such as unsecured lending. There is. ” Pat McNabCo-founder of Reputation DAO.
“Interoperability between DeFi and traditional finance is essential for trillions of dollars of capital and billions of users. Reputation DAO provides a conduit for this data to flow into smart contracts, security, pricing, We will strengthen our warranty. “
This funding will drive the development of reputation infrastructure and scoring products. Reputation DAO scales the analytics engine to map off-chain data such as AML / KYC, traditional credit scores, and social media data to enhance the assessment of account-specific risk indicators delivered to smart contracts. , Can promote hundreds of billions of loans. ..
Richard Galvin“Credit scoring is an important feature of both banks and external providers in the traditional financial system. For both borrowers and lenders, this clarity has never been the feature of DeFi,” said DACM Co-Founder and CEO. There wasn’t.tem aWith the rise of DAOs that require independent and reliable information, we believe that reputation DAOs are the basic infrastructure for the sector’s next growth phase. “
Chainlink co-founder Sergey Nazarov said: “DeFi has already redefined the global financial industry, but one of the missing links that hinders its growth is the lack of a comprehensive credit system. Chainlink is a reputation DAO adopting global DeFi. We are helping to unlock the reputation infrastructure needed to accelerate. ”
Reputation DAO (fk)a. Chainlink Oracle Reputation) is building a verifiable, decentralized and programmable reputation service for DeFi. Reputation builds a bridge between DeFi and traditional finance, allowing individuals to leverage real financial data and identities as they interact with smart contracts. With a powerful data streaming engine, Reputation DAO analyzes account, oracle, and DAO-specific data on-chain. Reputation is the key to unlocking DeFi and enabling many new decentralized applications.
DACM is a leading digital asset fund manager with global operations.Co-founded Richard Galvin When Gabriel Abed In 2017, DACM $ 500 million Venture capital is a long-only, market-neutral strategy for clients around the world. DACM has brought world-leading benefits to its clients by combining in-depth technology and infrastructure research in combination with its own commercial and valuation methods. The DACM Digital Asset Fund was the number one in the world to run the only crypto fund in 2020 and 2021.
Key link
Find out more about Reputation DAO
Reputation twitter
Disagreement of reputation
View original content and download multimedia: https: //www.prnewswire.com/news-releases/reputation-dao-raises-us4-75m-to-build-reputation-scores-and-increase-access -to-defi-301525531 .html
Source reputation DAO
