In an exciting announcement, Gora, a multi-chain oracle network on Algorand, and RociFi, a credit score oracle protocol on EVM, have revealed their merger. This collaboration signifies a significant milestone for Gora Network, opening up new opportunities and strengthening its position in the DeFi space.
RociFi has played a key role over seven months in providing on-chain credit scores for EVM wallets on Algorand through Gora's network. This successful partnership has set the stage for further progress, as both oracle solutions have found synergies to enhance their capabilities. By combining strengths, Gora and RociFi aim to create a more powerful and robust project.
The collaboration will introduce a range of new use cases within DeFi, including reliable collateral price feeds and wallet-level credit data provided by RociFi's expertise. These offerings will enable projects to access comprehensive wallet information in real-time, allowing for better governance, customized borrowing terms, targeted airdrop incentives, and transparent protocol health assessments.
Merger Structure and Benefits
The merger will operate on a 50/50 structure, with the $ROCI token transitioning into the Gora Network ecosystem. $ROCI holders stand to gain from seamless 1:1 conversion to $GORA, unlocking various opportunities such as participation in the Gora network, node operation and staking, and an accelerated product roadmap thanks to the integration with Gora.
For the Gora community, the merger with RociFi means access to the robust EVM ecosystem, promoting wider adoption of multichain and DeFi for Gora. This includes the enhanced launch of GoraFi, the introduction of an ERC-20 $GORA token, and a stronger team with expertise in the EVM ecosystem.
Collaboration with Qoda Finance
To mark this occasion, Gora and RociFi will partner with Qoda Finance, a peer-to-peer lending protocol on Arbitrum, for a pilot project exploring unvested token lending in DeFi.
About RociFi
RociFi is a decentralized credit economy offering EVM on-chain credit scores to support under-collateralized lending in DeFi, with a focus on quantizing credit and facilitating on-chain lending.
About Gora
Gora is a secure and decentralized oracle platform providing data feeds for Algorand and other blockchains, empowering smart contract integration and data-driven decisions in dApps.
Both Gora and RociFi are dedicated to maintaining community engagement and transparency throughout the merger process, ensuring relevant updates are shared promptly. It's important to conduct individual research before making any financial decisions based on the information provided here.
For more information on RociFi and Gora, please visit their respective websites.
