Spectral’s Vision for Trustless ML with On-Chain Rewards

Recapping a week of important news from Spectral.

Our journey began with a simple question: How can we make Web3 more accessible, equitable, and efficient? Our first answer was the MACRO Score, the Multi Asset Credit Risk Oracle—a human-readable creditworthiness assessment metric generated from an on-chain wallet (or wallets), a new financial primitive which would offer the decentralized finance (DeFi) ecosystem a portable, composable and decentralized identity token. 

As we delved deeper into the intricacies of Web3, and explored the potential of zero knowledge machine learning, we realized the MACRO Score was more than a credit score; it was proof of concept for a much larger vision.

Our long term vision is to empower the world to harness a decentralized machine learning (ML) oracle that democratizes access to high-quality, crowd-sourced, verifiable, and privacy-preserving inferences for transformative real-world impact across industries.

Our First Challenge: a Decentralized Credit Score

In August 2022, we released our first Multi-Asset Credit Risk Oracle (MACRO) Score. The most recent version of the model used over 150 features, and was created from analyzing eight years of Ethereum transactions and over 2.5 million borrowing events on Ethereum, Polygon and Avalanche—and, backtested against a year’s worth of borrowing events on the lending protocol Aave, was proven to improve capital efficiency. Building an on-chain credit score means wielding complex on-chain data and preparing a model that’s ready to provide inferences from day one.

We’re asking you to develop an entirely new credit scoring model, and providing the dataset that we developed for the MACRO Score as your starting point. In exchange, we’re offering the top ten modelers who hit our performance benchmarks (listed below) a bounty of $100,000 and a share of the revenue collected from the model after the competition ends. Read on for more details and sign-up for early access.

Discover our new look and a brand new data-science focused community

Screenshot of our new homepage.

Spectral has revamped both its website and its Discord community to emphasize our new focus on data science and machine learning. Check out our new look, then explore the Discord community, connect and collaborate with other data scientists and modelers, and share information.

And a special treat just for you… Spectral’s Awesome List!

We’ve compiled hundreds of links to machine learning and other resources from all over the ecosystem. Download it here (PDF)