Nomis <> Aptos

Inspiration

The core philosophy of DeFi loans was to make capital accessible to everyone, but the present structure creates hindrances to mass adoption. The barrier is that DeFi loans are always over-collateralized by design. It makes them too elitist and reserved for those with both tech skills and capital.

It might seem weird, as one borrows because they need funds they don't own in most cases. So, DeFi loans, as a source of capital, aren't accessible for mainstream borrowers and underserved populations looking for alternatives in the eyes of the upcoming recession.

What it does

Nomis is a Credit Karma for DeFi or a multi-chain lending aggregator that smartly connects borrowers with DeFi protocols offering custom loan terms based on borrowers’ on-chain credit scores. Nomis is designed to bring mass adoption closer and enable DeFi lenders to get more clients.

We help mainstream borrowers and underserved populations get alternative access to capital by placing them in a web2-like experience and enabling them to leverage their on-chain reputation to get better DeFi loan terms. On the other hand, Nomis enables lending protocols to use wallet credit score data in their business models to offer custom terms for borrowers and target particular customer segments on the aggregator.

How it works

• Nomis provides borrowers with credit scores based on their multi-chain activities, thanks to the best-in-class credit score algorithm behind it.
  
• Our solution enables and incentivizes DeFi lending protocols to use wallet credit score data to offer custom terms for borrowers. The protocols, in their turn, get an opportunity to optimize their business and risk models and get more clients.
  
• Nomis, as an aggregator, smartly connects borrowers with the most relevant offers from DeFi lenders.
  
  
  

Differentiation

Nomis hires the DeFi lending aggregator model to bring mass adoption closer and respectfully treat the web3 principles. In contrast, a vertically-integrated model (e.g., Roci.Fi) eliminates competition and oppresses borrowers, and a credit score provider model (e.g., Bird.Money and Masa.Finance) doesn’t solve the borrowers' identity and UX problems.

What we built so far

As far as Nomis is designed for piecing borrower DeFi identity together, we're more than motivated developing Nomis on top of Aptos.

As a result we've developed a credit score MVP for Aptos wallets based on on-chain data (the MVP is open-source). We also have developed API and its documentation for Aptos developers.

The roadmap was as the following:

• Extracted wallet and transaction data from Aptos and constructed initial variables;
  
• Aligned the Nomis mathematical model to the variables extracted;
  
• Developed credit score and UI for Aptos wallets;
  
• Developed API for Aptos developers and its documentation.
  
  
  

How we built it

We hired Aptos indexer GraphQL API to get wallet, transaction, and NFT movement data. We constructed variables can be received via Nomis API, based on the data extracted. Finally, we hired our mathematical model to develop Nomis (credit) Score based on the constructed variables.

Our solution is based on the .NET 6 platform and the ASP Net Core framework. We used the Docker toolset to build and deploy the solution. To build, run the following command: docker build -f src/Common/Nomis.Web.Server.Common/Dockerfile -t nomis-web-api . docker -dp 80:80 nomis-web-api

What's next for Nomis

We'll continue developing Nomis on top of Aptos to help mainstream borrowers and underserved populations get alternative access to capital. We aspire to incentivize lending protocols built on the Aptos Ecosystem to hire the Nomis credit score data and provide borrowers with more attractive lending terms.