Get your own web3 Credit Report

Cred Protocol
4 min readMar 23, 2023

Cred Protocol’s launching a Credit Report within their Dapp to give everyone with an active ethereum or arbitrum account greater access to the data behind their credit score. We help people understand their score and how to improve it, opening new opportunities to access DeFi products.

Want to see your web3 Credit Report? Preview to the launch of Cred Protocol’s new Dapp Report

The Dapp & Credit Score

Cred Protocol built a credit report to provide individuals with the ability to view their own credit score by simply connecting their wallet. A DeFi credit score measures the creditworthiness of an account based on its on-chain web3 footprint. By ingesting a wide variety of data points from across the spectrum of on-chain activity, Cred is able to assess the behavior of an account, and generate a score regardless of whether a wallet has interacted with a lending protocol before.

Providing this granular assessment of risk is key to creating the trust and transparency that will ultimately unlock access to credit in DeFi. Our score enables our customers to understand their existing users better, improve qualification of new users, and offer improved customer experience as users can be offered products and services best suited to their risk profile.

The Credit Report

In addition to the Cred Score, Cred is now launching a Cred Report within the Dapp, this report surfaces information about a wallet’s transaction history to the owner, empowering them to understand their data and improve their score. We believe that empowering individuals to improve their score will enable and incentivise the DeFi community to build products and services that acknowledge and cater to the spectrum of risk that exists.

The Cred Report provides a visual snapshot of an account’s current holdings across assets, deposits, collateral and debt, as well as showing how these values have moved over time. Surfacing this data alongside the credit score, allows the user to contextualize how their transactional record impacts their credit score, and identify behaviors that can improve it.

Holdings & Account History

In the ‘Your holdings’ section of the Report a user can see the assets within their account, the chains that the assets are found on, and the breakdown of protocols on which those assets are placed. In one place a user will be able to monitor their on-chain assets wherever they might be.

An account holder can then use the ‘Your account history’ graph to track how their asset position has moved over time, relative to the amount of loans that they have taken out. Providing a visual representation of a wallet’s history, alongside the transparency Cred provides through the credit factors that make up the score allows a user to interrogate their on-chain transaction history and understand the drivers behind their credit score. Placing information that is easy to interpret in the hands of the account holder is key to creating a culture of transparency and accountability in web3 where people are encouraged and empowered to proactively improve their creditworthiness and therefore their score.

The Cred Report also provides the account holder with a snapshot view of their token holdings and how they are deployed across assets, deposits, collateral and debt — alongside a view of how these token holdings compare to other wallets. The ‘Statistics’ section of the report contextualizes the information within the report, so that an account owner understand the current state of their account relative to the rest of the ecosystem. Over time as the account builds more transactions, the owner of the account will be able to see how their percentile position has changed.

Future work and upcoming posts

Cred Protocol is first and foremost a credit risk platform that provides a suite of APIs and Oracles to enable businesses to make risk-based decisions and personalized product experiences. Through our Dapp and the score and report, we wanted to illustrate what a consumer credit scoring experience could look and feel like.

Launching the report is just one step in our mission to bring Defi lending to 1 billion people. Over the next few months we’ll be improving our core credit scoring model and credit reports with more data, and expanding our capabilities with cross-chain and off-chain data.

We are building a risk platform that includes a holistic suite of products from Sanctions & Fraud Recognition, Credit Monitoring & Portfolio Management, and Protocol Credit Rating.

If this article has inspired you to build using the Cred Protocol, then you can create an account on our Developer Portal here

To find out more about Cred please visit our website, subscribe to our mailing list, or join our community on Discord

If you want to hear from us on a specific topic please tweet us @cred_protocol.

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Cred Protocol

Cred Protocol is a decentralized credit score that quantifies on-chain lending risk at scale using open, fair and transparent blockchain data.