What is Bird.Money?
Bird.Money is an off-chain data analytics platform to provide On-Chain Data for protocols on Ethereum.
Every time the wallet is connected to the web3.0 platform, developers connect to Bird oracle to retrieve analytical information and update products, services and interfaces to optimize and increase conversions. For example, developers can offer launchpad investment terms or various DeFi loans based on Bird’s analysis of wallet data history as well as off-chain data.
Combining the power of ML with open and decentralized technologies allows Bird to create an entirely new technology business model that leverages innovative blockchain solutions.
The basics of Bird.Money
- Website: bird.money
- Supported Chains: Ethereum.
- Supported Wallets: Metamask, WalletConnect.
- Feature: Analytics Oracle, Lending, Farming, Staking.
- Audit: Solidity Finance, ImmuneBytes.
- Availabilities: Website.
How does Bird.Money works?
Bird.Money aggregates on-chain data and off-chain analytics into advanced machine learning models, empowering DApp developers to create the Web3.0 UX of the future.
Oracle on-chain protocol
Bird Oracle provides anonymous on-chain information about borrowers and users on a decentralized lending platform to reduce risk for investors.
Through analyzing the history of repayment behavior, Bird.Money helps increase access to loans for DeFi users.
Off-chain oracle analysis
The number of BIRD tokens users can Borrow is based on transaction history and ratings from oracle off-chain analytics.
The more information users provide about the transaction history, the more $BIRD tokens they can borrow without additional collateral.
Bird.Money creates a trusted lending & borrowing ecosystem while encouraging users to participate in borrowing and lending to increase analytics scores. With the ability to use real-life information and events as a deciding factor, Bird.Money gives users peace of mind to experience, while focusing on developing a portfolio.
Guide to use Bird.Money products
Analytics Oracle
- Step 1: Visit Oracle Bird Analytics. Select [Oracle Analytics] in the list on the left.
- Step 2: Select [Connect Wallet] in the top right corner to connect the wallet. Currently Bird.Money only supports MetaMask and WalletConnect wallets.
- Step 3: See your data displayed on the screen.
Lending
Borrow
- Step 1: Visit Bird Lending.
- Step 2: Select [Connect Wallet] in the top right corner to connect the wallet.
- Step 3: Connect to Ethereum Mainet.
- Step 4: Choose collateral.
To select a collateral, click the slider next to it in the [Supply Market] section. After that, the screen will display the [Enable as Collateral] window, click [Use <token> as collateral].
- Step 5: Enter the amount of tokens you want to use as collateral and select [Supply]. After that, you need to approve the transaction in the linked MetaMask or ConnectWallet wallet.
- Step 6: Proceed to borrow based on collateral.
After providing the collateral, you will see some changes in the Bird Lending app interface. The data table on the left will show the value of the collateral you have provided and the allowable loan limit.
Then, select the asset you want to borrow on [Borrow Markets]. When the loan window appears, on the [Borrow] tab, enter the amount you want to borrow and select [Borrow].
After you approved the transaction on MetaMask, you successfully executed the loan.
Loan repayment
- Step 1: Visit Bird Lending.
- Step 2: Select [Connect Wallet] in the top right corner to connect the wallet.
- Step 3: Connect to Ethereum Mainet.
- Step 4: Select the loan you want to repay.
- Step 5: Enter the refund amount and select [Repay].
After approving the transaction in MetaMask, you have successfully paid off the loan.
Staking
- Step 1: Access the CyberFi Staking platform.
- Step 2: Connect the wallet to the platform.
- Step 3: Select BIRD to staking and enter the number of BIRD tokens.
- Step 4: Confirm the transaction on your wallet.
- Step 5: After confirming the transaction and implementing additional security measures, F5 re-page to see the staking balance updated.
Farming
- Step 1: Get LP tokens from Uniswap.
Access the Uniswap [Pool] for ETH/BIRD here.
You will be asked to provide both ETH and BIRD to the Uniswap liquidity pool. In return, you will receive LP tokens representing the asset provided. LP tokens will be used to redeem the original asset.
The next steps are similar to Staking, however, the difference is that you are staking LP tokens instead of BIRD.
Conclusion
With on-chain and off-chain data analysis, Bird.Money has brought a new wave in the DeFi financial ecosystem, promoting cryptocurrency lending activities, ensuring transparency, safety and trust.
Hopefully, through the above article, Ecoinomic.io has helped you have an overview of the Bird.Money project, thereby assessing the potential of BIRD tokens and making appropriate investment decisions.
