Spectral (SPEC)

Spectral is a decentralized protocol that introduces programmable creditworthiness to the Web3 ecosystem. By leveraging on-chain data, Spectral aims to enhance capital efficiency in decentralized finance (DeFi) through innovative credit risk assessment tools.

Key Features:

• MACRO Score: Spectral's Multi-Asset Credit Risk Oracle (MACRO) score evaluates an Ethereum account's creditworthiness based on on-chain transaction history. Ranging from 300 to 850, this score assists lenders in assessing borrower risk within the DeFi space.
• Non-Fungible Credit (NFC): Users can bundle multiple wallet addresses into a single Non-Fungible Credit token (ERC-721), representing their aggregated on-chain transactional history. This feature provides a comprehensive view of a user's credit profile, facilitating more accurate risk assessments.
• Decentralized Credit Risk Modeling: Spectral democratizes the credit scoring process by allowing participants to propose and modify methodologies for credit assessment. This collaborative approach aims to produce robust and evolving credit models tailored to the decentralized ecosystem.
• Integration with DeFi Protocols: By providing on-chain credit scores, Spectral enables DeFi platforms to offer under-collateralized or optimally collateralized loans, improving capital efficiency and expanding financial opportunities for users.
• Funding and Development: In November 2021, Spectral raised $6.75 million in a funding round led by Polychain Capital, with participation from Galaxy Digital, Social Capital, and others. This investment supports the development of Spectral's decentralized credit bureau infrastructure.