TeleFy, in a nutshell, brings in a way to associate trustless Tele-Score i.e, credit score for every wallet. The Tele-Score services come along with the Telefy platform determines the credit worthiness of each wallet and produces most appropriate interest rates for the users who are availing the benefits of lending pool. Based on the holds in the wallet and the transactions performed by the users the Tele-Score gets impacted and so at any point in time, users could pay the interest that suits most for the lending they opted in.
Tele-Score will be published as an open-source micro service that can be leveraged by any exchanges or users who are interested in consuming this service. Tele Score can be a transformational service that can change the way of most of the DeFi solutions that are in the market today, by distinguishing users into multiple categories based on their date of joining to the DeFi chain and other credentials.
$TELE is the Ethereum-based governance token of TeleFy.