NFCS (Non-fungible Credit Score) is DeFi’s Credit, Reputation, and Trust token. It also acts as a credential for the under-collateralized borrowing.

1. Introduction

To borrow from RociFi users need to be credit risk rated by the Protocol’s credit risk scoring (CS) API.

In order to receive a CS, users must mint their Non-fungible Credit Score (NFCS) token first. NFCS is an ERC-721 token that is minted on the Polygon blockchain and is used to verify ownership of the addresses for which the credit risk score (CS) has been generated.

NFCS operates as a credit, reputation, and trust credential that neatly classifies user’s on-chain behavior into an easily interpretable scale from 1–10; with 1 being the most creditworthy and 10 being the least. More details about RociFi’s scoring terminology can be found here.

Multiple addresses can be added, i.e. “bundled” to NFCS. In this case CS is defined based on the aggregate transaction (Tx) history from these addresses. NFCS is immutable once generated.

NFCS operates similarly to credit bureaus like FICO where the score belongs to the user, but the user does not control it.

At this moment RociFi analyzes Tx history of bundled addresses on 4 blockchains: ethereum mainnet, Polygon, Optimism, BSC and Avalanche. In the near future, RociFi will analize all bundled address’ activity on all major EVM-compatible chains.*hz182J1etBUUFj_-

Figure 1. Final page of the NFCS minting flow. Scores 1–6 give access to the under-collateralized lending

2. How NFCS works

2.1 The flow

NFCS can be created on Polygon in a few seconds with a couple simple steps:

Read here in-detail NFCS guide: How to mint Non-Fungible Credit Score (NFCS)