Bird.Money (BIRD) - Bitcoin.com Listing Event on 07 Apr 2021

Bird.Money (BIRD) – Bitcoin.com Listing Event on 07 Apr 2021

“On April 7th. (BIRD) by Bird.Money will be listed on the Bitcoin.com Exchange, paired with USDT and BTC. “

Source

Bird will be listing on Bitcoin.com Exchange.

April 6, 2021 by naomi

On April 7th. BIRD by Bird.Money will be listed on the Bitcoin.com Exchange paired with USDT and BTC. 

BIRD is the native token of the Bird.Money platform. This data-driven digital lending solution addresses one of the biggest challenges that DeFi lending platforms and users face today: a lack of transparency. 

In the traditional financial system, lenders rely on credit scores to assess the worthiness of a potential borrower. Credit scores aggregate data from an individual’s financial history and represent an individual’s overall creditworthiness in a single number. This number is comprised of data ranging from transaction history, amount of current debt, and can sometimes even be affected by whether an individual is registered to vote. 

After compiling all this data, the credit score lets financial institutions calculate the risk of loan default. An individual who consistently pays bills on time will have a higher credit score and will be considered to be less of a risk to the lending institution. 

Due to the nature of the Decentralized Finance ecosystem, centralized credit scores don’t exist. Lending platforms within this ecosystem are made up of smart contracts that don’t have access to data stored outside of the blockchain. This limits the available data for lenders and borrowers to the transaction history of any particular wallet. 

Bird.Money is a non-custodial digital asset platform that leverages off-chain oracle analytics to bridge the gap between off-chain data and on-chain lending. By providing off-chain analytics to lenders and investors, this next-generation lending platform helps digital lenders reduce the risk of defaults. 

The Bird.Money Oracle pulls data such as trust ratings, blacklisted accounts, defaults, liquidations, scams and known hackers from its data providers and feeds them towards credit assessment. The more transparent the view on a potential borrower is – and the more trustworthy they seem – the better. Users that supply additional information such as prior transaction history will be able to borrow assets without having to post more collateral. 

Borrowing in DeFi lending platforms usually requires a collateral deposit that surpasses the value of the loan taken out. For example, to take out $100 DAI in Maker at a collateralization ratio of 66%, borrowers would have to deposit $166 worth of ETH to access that loan. By providing further information to Bird.Money, investors can access additional capital, increasing the ratio of what they can borrow on their collateral up to 85%. 

BIRD is the token at the heart of the Bird.Money ecosystem. Data Providers running Oracle nodes can earn BIRD by providing data on borrowers, and Data Consumers – entities giving out loans – can purchase data using BIRD. 

Additionally, the team behind BIRD recently announced a partnership that will allow BIRD holders to stake their tokens, and a yield platform will be released shortly. 

“With DeFi lending platforms booming, we’re thrilled to be supporting a project like BIRD that is providing an exciting way of increasing transparency while benefiting borrowers and lenders alike.“

Danish Chaudhry, CEO Bitcoin.com Exchange

Luciano Sebastian from Bird.Money also hailed the listing of the BIRD token on Bitcoin.com Exchange:

“We’re extremely excited to be listing BIRD on one of the premier exchanges in the space, further increasing access to our token as we continue to shape the future of DeFi and lending.”

Luciano Sebastian

With the popularity of Decentralized Finance and digital lending platforms ever-increasing, risk management for digital lenders will become increasingly important. The team at Bird.Money is constantly innovating to address the risks for tomorrow’s digital lenders. 

To find out more about BIRD, visit Bird.Money today! 

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