We are excited to announce a partnership with DREP (Decentralized Credit Data Middleware), an early leader in creating a global credit protocol for the DeFi industry. DREP’s credit system, once successful, will allow for lower collateralization for credit enhancement in the DeFi field, as opposed to today’s ubiquitous standard of overcollaterization. Credit is a use case we believe will propel DeFi further into mainstream use. Overcollaterization, while trust-minimized, increases the cost of financial interactions significantly. Users with strong credit have to put up $15 to receive a $10 loan, with a fear of being margin called and losing their collateral nonetheless, selling assets they can afford to hold but simply failed to add margin in time.

DREP’s unique solution, through an open, accessible credit protocol, will significantly lower the cost of many DeFi use cases and enhance the multidimensional credit investigation of DeFi user portraits. Our partnership is primarily focused on product and engineering, specifically the ability to leverage each other’s competitive advantages to better service both of our customer bases.

Integration

Committed to building a DeFi Credit Protocol, DREP is the decentralized credit-data middleware based on layer-2 facilities, with the goal to change the single method of credit enhancement in the DeFi field through the multidimensional credit investigation of DeFi user portraits. As the first product released in the DREP 2.0 Product line, DREP Crossing is the ultimate solution to efficient and flexible cross-chain swap of multiple assets including NFTs. Shortly after the announcement of the DREP 2.0’s upgrade plan, DREP has built up a rich partnership portfolio.

For more information, please follow DREP Twitter and join the Telegram Community.

DREP will utilize the APIS as its back-end solution for its upcoming DREP 2.0 applications. The APIS provides highly performant, low-cost API solutions for the most used layer-one public blockchains and layer-two scaling solutions. DREP will utilize the APIS to expand its ability to read and write data to other chains and layer-twos, as well as their own layer-two solution, an essential feature of the DREP 2.0 upgrade.

The APIS will in turn support DREP 2.0 on its API protocol, allowing the APIS’s customers, including DREP itself, to frictionlessly leverage DREP’s credit solutions in their front-end applications. The APIS believes that DREP has a significant chance of becoming the leader in the reputation economy, primarily due to the technical capabilities of their team and their go-to-market approach centered in Asia. We have been impressed with DREP’s team in every conversation we’ve had, and Eastern DeFi users currently utilize DeFi products in their daily lives significantly more than Western ones. Consequently, we believe that DREP’s products should garner significant usage, becoming increasingly valuable to our other customers for their decentralized applications.

We are excited to work with DREP, and will continue to keep you posted as products specific to the partnership are launched.

ABOUT DREP Foundation

A credit enhancement protocol for lending on open networks. Using algorithms and layer-two solutions to provide the lowest cost, most capital efficient lending solutions on public blockchains.

Committed to building a DeFi Credit Protocol, DREP is the decentralized credit-data middleware based on layer-2 facilities, with the goal to change the single method of credit enhancement in the DeFi field through the multidimensional credit investigation of DeFi user portraits. As the first product released in the DREP 2.0 Product line, DREP Crossing is the ultimate solution to efficient and flexible cross-chain swap of multiple assets including NFTs. Shortly after the announcement of the DREP 2.0’s upgrade plan, DREP has built up a rich partnership portfolio.

👋 About THE APIS:

Indexing protocol for querying and writing to open networks. Making APIs open and accessible to power a decentralized world.

📰 INFO

https://medium.com/the-apis/announcing-the-apis-partnership-with-drep-624900229121