General description of Off-Chain and how it relates to Bird.Money
Off-Chain Oracle Analytics help reduce the risk investors face before they begin to interact with the ecosystem.
Available information off-chain
Real-world events and user information available off-chain are utilized to improve the authenticity of borrowers and further mitigate the risks against loan defaults. Loan tracking information is parsed from Etherscan and analyzed using The Graph API to obtain user interaction data from Compound, AAVE and other lending protocols.
Information such as transactions, loan repayments and DeFi interaction history could be analyzed through the Etherscan API and inspected for defaults, liquidations and other imprudent behaviours.
Transaction history and Account forensics
Loan Tracker information provided by Etherscan and using the graph API to analyze Compound, Aave and other loan offering protocol data about a customer.
Bird.Money’s off-chain API feeds on-chain protocols with information about an ETH account address, its transaction history and related digital assets.
How does it work?
Users who provide as much information as possible in regards to their transaction history, will require less collateral than normally required. This provides an extremely transparent view to other lenders or borrowers which in turn creates a safer ecosystem. Users who supply this information will also get additional access to $BIRD tokens which is available to borrowers without addition collateral. The amount of $BIRD tokens the borrower can receive is based on the user’s Off-Chain Oracle Analytics transaction history and rating.
There will be an Off-Chain API interface for third party integration with other companies, developers, and DeFi apps. Some of the features available include ETH account analytics POST and GET endpoints. Other features such as account blacklist, Oracle integration with external data directories, on-chain and off-chain equity measurement, on-chain and off-chain assets measurement will be released in the next coming weeks.
More features such as account blacklist, smart contract analysis, a loan aggregation engine, and investment intelligence will be added to the API soon and will be free to the $BIRD community members.
Bird.Money's Off-Chain Oracle Analytics
Off-Chain Analysis being utilized to help build trust in the lending and borrowing cryptocurrency niche is something that has not been explored. Bird.Money is taking the opportunity to create a more trustworthy ecosystem while also providing an incentive to participate in borrowing and lending to increase your analysis score. Before, anyone could get a loan, whether or not they had a history of paying back their loan or avoiding their debt. With the ability to use real life information and events as a factor in the decision, users can worry less about credibility and trustworthiness and focus on using their assets to help grow their portfolios while participating in a new, innovative and trailblazing platform.