Available Networks and Credit Metrics

Available Networks

The Credora Smart Contract is deployed on Ethereum Sepolia and Flow networks. It is expected to go live on Ethereum Mainnet in the coming month.

It will also be available on other blockchains in the near future.

Available Credit Metrics

The credit metrics we hold in the smart contract are the following:

  • Credit Score [uint256]: A score out of 1000, granularly differentiating the creditworthiness of borrowers. Credit scores are outputs for specific methodologies.

  • Total NAV [uint256]: NAV is typically calculated for investment funds. The formula is ((Total Assets - Total) / Outstanding Shares). Total NAV delivers the numerator for this equation.

  • RAE [bytes8]: A Rating Agency Equivalent is delivered as a Credit Assessment Metric, providing a way to compare Credora outputs to the big 3 US Credit Rating Agencies.

  • Borrow Capacity [uint256]: The output of a scenario analysis, considering the impact of additional unsecured debt in the context of the strategy, current leverage, and historical leverage.

  • Implied PD [uint256]: Implied probability of default for the borrower over a specified tenor. This is derived using the Rating Agency Equivalent and corresponding historical default rates.

  • Implied PD Tenor [uint256]: The tenor over which the borrower's Implied PD has been calculated, which is anchored to the average duration of their outstanding debt.

It is well known that Solidity does not support floating-point numbers. For this reason, credit metrics (except for RAE that is bytes8) are managed and stored as uint256.

The integer is obtained by multiplying the float number with a factor of 10^18. Hence, numerical metrics must be always divided by that factor to obtain their float representation.

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