Lendvest collaborates with Chainlink BUILD program

Lendvest is on the verge of collaborating with the Chainlink BUILD program. This is for enabling it to work on the overall growth of the ecosystem and mass acceptance of Web3. This will be achievable by connecting with Chainlink’s high-level Oracle services, along with the required technical backup. In return, Lendvest will be expected to offer network fees, as well as further advantages to the Chainlink community, service providers, and the stakers.

Through the collaboration with BUILD, Lendvest will receive further advantages like the backing of the Chainlink ecosystem, as well as higher connectivity with DeFi protocols and greater incentive distribution amongst Chainlink and Lendvest communities. Through these benefits, Lendvest is certain they will be capable of furthering their name and achieving the acceptance of a decentralized credit score infrastructure needed for DeFi.

Lendvest is a platform that is boosting data with regard to the upcoming credit module in DeFi. Presently, the entity is into collecting data for building decentralized data feeds for the formation of an ascertained credit score for DeFi protocols. A credit module of this sort will provide the option for decentralized lending platforms to algorithmically measure the risk quotient of a user. This will help bring about greater risk-adjusted returns for the platform.

The reason behind Lendvest honing in on BUILD was to increase the advantages of safety and dependability that are provided by Chainlink’s Oracle framework. Lendvest will be in the position of being able to get connected to data belonging to any API via Chainlink Functions and fresh Chainlink product alpha and beta releases. In return, it is expected that Lendvest will offer 4% of its conventional token supply to Chainlink service providers and stakers. 

According to the Co-Founder of Lendvest, Joshua Gottlieb, they are extremely pleased to have collaborated with Chainlink BUILD and aim to remain committed in their intention to reach out to the Chainlink community to take part in authenticating Lendvest’s on-chain credit scores in days to come. 

As for the Head of Business Development at Lendvest, Faheem Hoosain, he believes with the backing of Chainlink BUILD, their company will be able to grow and make their contribution towards the wider Web3 ecosystem.

Chainlink is the benchmark for the Web3 services platform and has been responsible for immense volumes of transactions to be carried out throughout DeFi, on-chain finance, gaming, NFTs, and various other businesses. Lendvest, on the other hand, aggregates on-chain lending data for building an authenticated credit score for DeFi protocols.