September 07, 2021 - 3 min read
SupraOracles is partnering with Credefi, a powerful and fully decentralized crypto lending platform for small to medium enterprises (SMEs). As first movers in the revolution to bridge TradFi and DeFi, SupraOracles and Credefi are excited to work together to drive vision with cutting-edge technology.
Unlike most DeFi lending platforms, Credefi is a fully decentralized lending platform that incorporates traditional banking instruments. These TradFi characteristics allow their target customers, SMEs that are familiar with TradFi practices, to be confident in Credefi’s security and reliability. SupraOracles will supply that security as it will be responsible for bringing off-chain data onto the blockchain to help facilitate data accuracy and usability on Credefi. This partnership will be paramount to Credefi’s credit risk analysis and its three-layer security, which entails proprietary credit-scoring, real-economy assets collateral, and its security module.
As Credefi evolves to become blockchain interoperable and offer cross-chain liquidity, SupraOracles is well positioned to provide fast and reliable cross-chain solutions. Credefi’s revolutionary vision will require it to cater to members of the SME community’s respective verticals, and SupraOracles is committed to developing customizable solutions for Credefi’s evolving needs.
Ivo Grigorov, CEO of Credefi, commented: “Oracles are at the core and forefront of trust and credibility of DeFi. To be able to deliver a service so important and groundbreaking is and always will be relying on trustworthy data. This being said, SupraOracles is our go-to partner in this long and responsible journey. We are extremely proud to be partnering with SupraOracles, a team and a project of great visionaries in the field of oracle technology.”
Joshua D. Tobkin, CEO and Co-founder of SupraOracles, commented: “SupraOracles is looking forward to strengthening Credefi’s capabilities through our oracle technology and evolving partnership. Solutions that allow DeFi to integrate with traditional finance are still very much in their infancy, and SupraOracles is thrilled to be working with a partner that understands this market as well.”
SupraOracles strives to bridge the gap between traditional capital markets and the Web3.0 ecosystem. Our vision and driving mission is to empower the developer community with a novel oracle toolset so that they may conveniently create, deploy, and manage data applications with superior performance, robustness, and agility.
Our project is supported by seasoned professionals with experience in the architecture of consensus mechanisms, randomness research, real-time data services, investment banking, digital securities, traditional stock exchanges, big data, doctoral academia, big 4 consulting, blockchain/DLT, and DeFi.
Together with our developer community and growing list of partners, SupraOracles aims to solve the oracle dilemma and ultimately, power the future of finance.
Credefi connects crypto lenders with SME borrowers from the fiat economy. The protocol resolves the key challenges that DeFi and TradFi are facing today: DeFi’s inconsistent, fragile yields that evaporate in bear markets and speculative borrowers that are fickle and cannot satisfy DeFi lending supply; as well as the difficulty for SMEs to get TradFi funding at normal interest rates.
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