The CreDA website has relaunched with some new features and more to come!
If you haven’t heard, CreDA has undergone some changes to focus on providing data services to Web3 organizations, including credit scoring for DeFi, credibility management for DAOs and community auditing for airdrops and marketing.
To demonstrate this flexibility of the CreDA data service, the first application of the technology will be to support the Elastos ecosystem in identifying long-standing community members and providing a credit score for upcoming airdrops. You may have seen that we’ve been testing our Oracle on Ethereum and the Elastos Main Chain. We are expecting to be finished with the Elastos Smart Chain (ESC) in the coming weeks.
Currently, the application and profile pages are being finalized and we expect them to be available this week. Those who visit our website will be able to check their Crypto Credit Score based on their historical ELA holdings and activity in the community before 2024 and share it on their social media for bragging rights. You can read more about it here.
In the meantime, you may notice some other aspects of the home page that promote some new features you may not be familiar with. Here we break down the intention and progress on further developments of the CreDA 2.0 project:
- CreDAchat
The first thing you might notice is something called CreDAchat. Essentially, CreDA’s AI developers are training a powerful Large Language Model (LLM) with proprietary contextual data from the CreDA Oracle, which will allow users to glean insights and understand changes in Web3 using natural language.
CreDAchat is a temporary name and the project is in its early stages, but if you’re interested to be an early tester or want to stay informed, please join our Telegram channel.
2. Risk Assessments and Audits
One of the anticipated use cases for CreDA will be for DAOs and other communities in GameFi or SocialFi to subscribe to CreDA’s credibility assessments. These reports will allow community decision-makers to ensure there aren’t bad actors participating in their community.
More will be shared in our forthcoming whitepaper. Again, our Telegram and X channels are the best way to stay informed.
3. Crypto Credit Scores
While CreDA is expanding its scope to include more data and insights-focused services, the core function of CreDA remains the same — to provide access to credit and capital for billions of people around the world who are trapped in the Credit Paradox. As such, we will continue to provide the core function of CreDA, which is to allow users to determine a Crypto Credit Score that can be used with partnering DeFi platforms.
What will be different is that our score will be focused on modelling only on-chain data (for now), as the regulatory and data-storage challenges of modelling on and off-chain data are quite limiting at this stage of our growth.
4. Institutional Research and Reports
As CreDA continues to build a proprietary database and AI-powered Credit Oracle, we intend to begin offering customized research reports, trend and insights analysis, as well as custom-trained GPTs, alerts, etc. Currently, however, our developers and AI experts are focused on the Elastos BeL2 Airdrop.
Should investors or Web3 organizations be interested in a custom report or analysis, we are open to taking on customers on a case-by-case basis at this point. Please reach out with any inquiries on our Telegram channel.
There’s lots happening at CreDA and we expect more updates in the coming days, weeks and months. Please follow along and provide us with feedback on our progress.
Thanks and we look forward to showcasing the profile and sharing features in the coming days.
