NFTCred

NFTCred is a decentralized borrowing protocol that transforms NFT credentials into powerful DeFi assets. Built on the EDU Chain Network, NFTCred allows users to collateralize their NFT-based credentials such as university degrees, professional certifications, and online course certificates to access loans in the form of USDC Tokens.

In the traditional finance system, most educational and professional achievements are non-financial and illiquid. NFTCred bridges this gap by enabling borrowers to leverage their academic and professional accomplishments issued as NFTs into collateral for trust-based borrowing.

Key Features:

1. Credential-Backed Loans: Borrowers can use whitelisted, NFTs (e.g., Harvard Degree NFT, Google Certification NFT and EDU Chain Learner Certificate) as collateral to request loans.

2. Credential Classification: Each registered NFT is mapped to a credential type such as Academic Degree, Professional License, or Online Course Certificate, enabling tiered Loan-to-Value (LTV) ratios and risk assessment.

3. NFT Locking Mechanism: NFTs are locked in the smart contract during the loan lifecycle to prevent misuse.

4. Decentralized & Permissionless: Only pre-approved NFT contracts can be used; however, the borrowing process remains open to all eligible users.

5. Secure & Transparent Loan Flow: From NFT approval and locking to loan disbursement, all steps are handled via smart contracts for transparency and trust.

Tech Stack:

1. Smart Contracts: Solidity + Foundry

2. Frontend: Next.js, Ethers.js & Viem

Innovation & Impact:

NFTCred pioneers a new paradigm in DeFi + Credentials, where education equals capital. By recognizing intellectual and professional effort as a basis for credit, NFTCred empowers underbanked users such as students, freelancers, and job seekers with a trustless financial gateway backed by their achievements.