RociFi x Gora Groundbreaking Merger: Pioneering the DeFi Risk Oracle
RociFi and Gora announce their merger!
The merger brings two of the most innovative projects together to push the boundaries of DeFi.
RociFi is a credit and risk scoring protocol allowing wallets to monetize their onchain history via customized borrowing terms.
Gora is a multichain oracle network bringing differentiated data feeds onchain.
The credit oracle and everything oracle combine forces to create DeFi’s first — Risk Oracle.
In pioneering the concept of the DeFi risk oracle, the combined team sets itself apart from traditional oracle solutions, which unlocks new use cases within DeFi.
Projects integrating the Risk Oracle will have real-time access to wallet information that enables sybil resistant governance, customized terms to retain whales, targeted airdrop incentives to power users, and protocol risk and solvency data (previously held in blackbox by risk providers).
Next Steps
Under the 50/50 merger, the RociFi brand and $ROCI token will fold into the Gora brand. $ROCI holders will be able to convert their holdings to $GORA, dollar for dollar, in the near future.
In preparation for the conversion, $ROCI trading will be paused immediately. More information will be continuously provided as to where and when holders can convert to $GORA, run nodes, and stake.
The RociFi community will see immediate benefits by its product roadmap taking a 9 month shortcut by folding into Gora’s existing oracle network!
Furthermore, $ROCI holders who convert to $GORA will be able to run a node immediately; unlocking a juicy APR and stacking their holdings.
The Gora community will be able to tap into the RociFi ecosystem to further expand its multichain and DeFi adoption efforts. Gora’s hotly anticipated DeFi platform launch, GoraFi, will now be aided by RociFi; including wallet information to reduce airdrop hunters and ensure top wallets are rewarded with the most tokens.
Also, the merger will introduce an ERC-20 version of $GORA that will be tradable on EVM-compatible DEX in early April.
More details will be released over the coming weeks regarding token conversion, DEX trading pool, node enrollment, and revised product roadmap and tokenomics.
Kicking off the Merger with a Bang
In early Q2, Gora will be participating in a pilot with our partners Qoda Finance. Qoda Finance, a peer-to-peer lending protocol operating on Arbitrum.
Imagine a scenario where a DAO contributor finds themselves in possession of $60,000 worth of XYZ tokens, vesting linearly over the next six months but needing liquidity now. In this innovative pilot, contributors will be able to deposit their unvested tokens as collateral and borrow $10,000 USDC against them.
The new Gora will play a pivotal role in this pilot by providing collateral price feeds for native tokens, crucial for calculating loan-to-value ratios and health factors. Moreover, with the merger, Gora will serve credit scores for each borrower address, further enhancing risk assessment capabilities.
Despite the inherent volatility of long-tail assets, Gora’s oracles deliver performant price feeds essential for collateral factor calculations. Additionally, Gora’s provision of credit risk data adds an extra layer of security for lenders while offering long-term benefits for borrowers.
As the DeFi ecosystem continues to evolve, the merger between Gora and RociFi serves as a beacon of innovation, propelling the industry forward into new realms of possibility. With a shared commitment to pushing boundaries and driving meaningful change, Gora and RociFi are poised to shape the future of decentralized finance for years to come!
Discord: https://discord.gg/cy6wQEV6Hr
Telegram: https://t.me/RociFi
