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World’s first on+off chain smb credit reputation scoring system, which can democratise access to credit for small businesses. This is built on top of our existing Defi protocol Dygnify for SME credit


Created At

ETHIndia 2022

Winner of


🧙 IPFS & Filecoin — 🔟 General Storage Track: Top 10


💸 Polygon — Best Defi Project


🏊 Push Protocol — Prize Pool


🎮 Valist — Best App/Games Deployed with Valist


🥇 Etherspot — Best Use


🥈 Covalent — Best Use

Project Description

Small businesses in emerging markets face acute credit crunch estimated to be $5 tn

  1. Existing bank liquidity isn’t sufficient

  2. Global liquidity isn’t accessible

  3. No comprehensive scoring mechanism which can be immutably shared with the world as a “proof of credit reputation” dygniy’s solution:

  4. We’ve built a scoring framework which builds an smb’s comprehensive 'Proof of reputation' credit scorethat combines off-chain credit bureau score + on-chain wallet activity related to on-chain borrowing track record across multiple borrowing/lending protocols

  5. Off-chain scoring includes an off-chain credit score and complete off-chain credit history like repayment track record, loan enquiries, loans outstanding

  6. On-chain scoring module computes a score using wallet credentials like length of credit history, avg age of the wallet, size of assets bought on chain, liquidation history of the wallet

  7. SMBs can mint an NFT and share their on+off chain reputation with global on-chain lenders, basis which lenders can lend to SMBs

  8. Dygnify’s solution includes user friendly and privacy protected on boarding (social auth, gasless experience) for smbs which can be accessed on a mobile, finally enabling: A. Access to borderless capital for SMBs in emerging markets B. Reduced cost of capital and C. Democratise growth of SMBs

  9. This is the project we submitted for EthIndia hackathon as a main entry which integrates covalent

  10. This is the Dygnify DeFi protocol in which we created a new branch with name 'EthIndia2022' specifically for the work in hackathon which contains integration with sponsor partners like IPFS, Biconomy, Push, EtherSpot and others.

How it's Made

INTERNET connectivity at the venue could have been much better. We had few challenges integrating Biconomy SDK for gasless transactions, but finally we were able to do it with their support.

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