The Quest Hub announces it is reviewing Spectral Finance’s wallet signals for use in vetting users of its collateral-free crypto loans and exploring new chains.
The QuestHub offers some of the world’s first uncollateralized cryptocurrency loans. They’ve begun a project that will explore the use of Spectral’s MACRO Scores and wallet signals to better understand their users and reduce rates of default.
At the moment they rely on a user’s Qredit Profile, which is based on their previous history of repaying loans, the contents of wallets connected to the platform (such as NFTs, tokens, or coins), their smart contract and dApp activity, previous repayments, and finally any co-borrowers or social media activity. Users are assigned a letter grade. A lower score may require a guarantor.
QuestHub offers loans between USD$500–$5,000 at a 2% monthly interest rate for a 30–180 day term. To date, $236,000 worth of loans originated out of a pool of $1,500,000. For now, they’re lending USDC on Solana and Polygon Ethereum, Avalanche, and Binance Smart Chain.
Want to learn more?
For more information about The QuestHub, please click the following link.
For more information about the MACRO Score and its wallet signal components, please click the following link.