Grant Proposal: Nomis —on-chain open source credit score protocol
Name of Project: Nomis
Proposal Category: devtools-libraries
Proposer: sxlveign
(Optional) Technical Sponsor: N/A
LICENSE Do you agree to open source all work you do on behalf of this RFP and dual-license under MIT and APACHE2 licenses?: Yes
Project Description
The problem that Nomis is going to solve is the over-collateralization in DeFi borrowing which is an entry- and adoption barrier for mainstream borrowers.
Nomis is a crypto protocol based on a mathematical prediction and AI model enabling protocol users with a favorable on-chain credit score to borrow crypto with a fair collateral and APR on a case-by-case basis. On the other hand, Nomis is an open-source protocol that helps web3 developers both building new on-chain solutions and use cases, and balancing already existing high-TVL protocols.
Nomis brings two crucial competitive advantages to the table:
1) Nomis is an open-source solution that helps web3 developers leverage credit scores building better on-chain products and communities.
2) Nomis offers the most robust financial snapshot of a potential borrower hiring hierarchy analysis as a scoring method.
Value
Nomis will help Chainlink to grow its TVL, # of active users (as a result of acquisition of mainstream borrowers), as well as # of active on-chain developers, and # of on-chain use cases (as a result of opportunity provided to develop new DeFi solutions on-top of the Nomis open-source protocol).
Deliverables
The final deliverable for Nomis: Nomis credit score accuracy ≧ the top3 credit bureaus' score accuracy.
We aspire to achieve this deliverable as it will crush the entry- and adoption- barriers to crypto loans for mainstream borrowers and people that have no access to credit today. Nomis will deliver its value through DeFi dApps (via API) built on-top of it.
Development Roadmap
Milestone 1: Data extraction from NEAR Protocol; Basic attribute calculation (on-chain data and transaction history) (09/01/2022)
- Code for attribute extraction.
- Landing with calculated attributes.
Cost: $15,000
Milestone 2: Credit score calculation via Nomis' AI-algorithm; Web3 login connection to boost UX (10/01/2022)
- Code for credit score calculation.
- Web-wallet integration.
Cost: $15,000
Milestone 3: API & documentation development (11/01/2022)
- API for credit score calculation.
- Documentation for using API.
- Personal area to API stats.
Cost: $20,000
Milestone 4: DST (Decentralized Score Token, non-transferable dynamic NFT which contains wallet’s current credit score) implementation (12/01/2022)
- Contracts for tokens.
- Web-page for token exploration.
Cost: $15,000
Milestone 5: Community building (Twitter, Discord, Telegram) — 20K total followers as a milestone for 3 months (01/01/2023)
- Twitter Account with ≥ 5,000 followers.
- Discord Account with ≥ 5,000 followers.
- Telegram Account with ≥ 10,000 followers.
Cost: $15,000
Total Budget Requested
$75,000 in total.
Cost breakdown: 70% —product development (mathematicians, developers), 30% —marketing.
Maintenance and Upgrade Plans
Although, the long-term vision for Nomis goes far beyond credit scoring for DeFi.
In the future, other Chainlink dApps will use the Nomis score as a wallet qualifier for making job offers, for adding in whitelists, for offering special marketing terms, or just for inviting to a private party, etc.
Team
Team Members
- Alex Barabash, CEO
- Arty Shatilov, CPO
- Fedor Cherepanov, CTO
- +7 ready-to-go-full-time mathematicians and developers
## Team Member LinkedIn Profiles
The team has experience in developing of and commercializing AI- and crypto-related products such as Kickcity (web3 event/ticketing platform on Ethereum) and GoRecruit (employee scoring SaaS for HR). Moreover, our spike is 15+year experience in neural networks.
Grant Proposal: Nomis —on-chain open source credit score protocol
Name of Project: Nomis
Proposal Category: devtools-libraries
Proposer: sxlveign
(Optional) Technical Sponsor: N/A
LICENSE Do you agree to open source all work you do on behalf of this RFP and dual-license under MIT and APACHE2 licenses?: Yes
Project Description
Value
Deliverables
Development Roadmap
Total Budget Requested
Maintenance and Upgrade Plans
Team
Team Members
Team Website
Relevant Experience
Team code repositories
Additional Information