Teller is an open-source protocol that interacts with consumer data to calculate default risk and offer unsecured crypto asset loans. Users can supply liquidity to the protocol’s lending pools and earn interest from repaid loans. Teller leverages borrowers’ credit history to calculate an annual interest rate (APR) that is based on market conditions vs. consumer credit risk, reducing or eliminating the need for collateral.
The Teller Protocol calculates consumer credit risk as a measure of personal financial data, e.g. debt to income ratio. The latter translates into APRs that are not only based on money market interest rate but also takes into account consumer credit risk. Variable loan APRs in turn result in variable APYs for the protocol’s liquidity providers. For the consumer, this means an affordable user experience that leverages positive credit history to lower DeFi’s exorbitant collateral ratios.
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link
The Chainlink Labs Channel Partner strategy is intended to outline a joint approach between Chainlink Labs and select accelerators, launchpads, incubators, devshops, and software tools to promote the user adoption and growth of the web3 ecosystem. Chainlink Labs and the channel partners will collaborate to accelerate and nurture the web3 ecosystem in key areas including gameFi, NFTs, developers, and startups.
Chainlink Labs is the leading provider of secure and reliable open-source blockchain oracle solutions, enhancing smart contracts by connecting them to a wide range of off-chain data sources and computations, such as asset prices, web APIs, IoT devices, payment systems, and more. We are dedicated to the development and integration of Chainlink as the standard decentralized oracle framework used by smart contracts across any blockchain.
