Glitch is teaming up with Bird.Money
Glitch is proud to announce that we’re partnering with Bird.Money, one of the most exciting open monetary ecosystems currently being built on Ethereum. Bird.Money leverages the power of off-chain oracle analytics to provide on-chain protocols with trusted data.
DeFi operating system + DeFi credit score
Glitch Finance is building an L1 blockchain to help decentralized finance scale. As such, a big part of our focus leading up to the mainnet launch is ensuring the proper conditions for a flourishing ecosystem. This means forming connections and building partnerships that boost the utility of the Glitch Protocol out of the gate.
dApps need good data to run, and finding good sources is something that we’ve dedicated a significant amount of time to. Although there are some similarities, Bird.Money is different than other blockchain oracles in that they don’t focus on price feeds for smart contracts. Rather they provide analytics products such as datasets and machine learning-based rating models to protocols both in and outside crypto.
In collaboration, Glitch users will gain access to the BIRD Score infrastructure, a next-generation DeFi credit risk score. That, as well as the rest of the Bird Analytics technology stack, will be deployed within the GLITCH network once it goes live. In the long term, this means that the Bird Analytics Oracle will anonymously provide information about loan applicants and users of decentralized lending platforms to reduce the risk of default to lenders — in essence, bringing the credit score on-chain.
Ultimately, users of the GEX and other GLITCH lending dApps will enjoy the benefits of better lending outcomes on both sides of the deal. Users with the best borrowing history will reduce the required collateral and greater access to funds, and lenders will understand their risk better and reduce the chance of default.
“Glitch shares a similar vision with Bird. And we fully support their belief that everyone should have access to accurate and personalized risk assessment that helps them gain access to the funds they need. We’re excited to be working together.” — Sean Ryan, CEO Glitch Finance
About Bird.Money
Bird.Money is developing data-driven solutions used to analyze risk in Decentralized Finance by securely delivering their Blockchain Individualized Risk of Default (BIRD) Score — DeFi’s improvement on the legacy financial system’s credit score — to lending platforms and protocols. The BIRD Score is the first DeFi credit score based on the statistical prediction of loan default, created using advanced machine learning methods and made available to lending protocols as a simple, accessible rating. It’s the next generation of credit scoring.
Website | Bird Docs | Discord | Twitter
About Glitch
Built from the ground up, GLITCH is a blockchain-agnostic super protocol explicitly designed for trustless money markets. Glitch solves the expensive fee structure of other blockchain platforms and plans to incorporate token wrapping bridges, where dApps can run more efficiently, all in service of Glitch’s ultimate goal: to become a cornerstone of decentralized finance infrastructure.
Website | Twitter | Telegram | Whitepaper
