Published 13 Apr by Maksym Kyryliuk

Midgard Research ICO Review: Libra Credit

Disclaimer: Our research is not a financial advice. We just share our opinion on ICOs based on publicly available information. Do your own research before making any investment.

Libra Credit is another project that aims to create a peer-to-peer lending platform (fiat, crypto for crypto as a collateral).

Key features of the platform:

  • Diversified sources of credit (financial institutions, individual lenders, stablecoin providers, etc.).funds
  • Extensive partnerships with Exchanges to safeguard collaterals & provide liquidity and Identity-Verification platforms to outsource the verification process.
  • A Collateral grade algorithm assesses the volatility of collateral assets, and smart contracts change the terms of loans in case of appreciation or depreciation of collateral.
  • A credit-scoring algorithm runs all available raw data (banking history, social networks, etc.) about the borrower to calculate the individual credit score. The team claims that this algorithm has been proven capable of achieving a historical loan default rate average of 3.5%.


The peer-to-peer lending sphere is saturated with competitors, although Libra Credit team has highlighted their core peculiarities: extensive partnership networks (with identity validators and exchanges), AI-based credit score assessment, and multiple sources of funding.


The team has vast experience in creating financial lending services. The CEO and COO both worked in top positions in PayPal. The CEO founded moKredit, a Chinese credit service- provider for mobile games and virtual goods. Top venture capital funds have invested inMoKredit. They include Sequoia Capital China, Bertelsmann Asia Fund, and Ventech China.

Libra Credit has a former PayPal president as an advisor. Three of its five advisors are representatives of VC funds (FBG Capital, ALPHABIT Fund, Danhua Capital).

Libra Credit claims to have established prominent partnerships with Civic, MakerDAO, Radar Relay, DDEX, but these partnerships have not been verified by any of the said partners.

Hype Rate is Average.


The team has managed to significantly raise awareness about the project.

Core members of the team are actively attending conferences and blockchain events.

The team has managed to raise 14.4 million USD on pre-sale – considering that the team members and advisors are famous in the industry, we may assume that there is sufficient interest from investment funds in the project. 

Prototype and Roadmap

The team promises to present its prototype before the ICO, sometime in April, and they claim that in Q3 2018, they will launch the Libra Credit Platform (desktop version) for crypto-to-crypto/fiat lending.

Token utility

LBA is used to apply for loans and to pay transaction fees. All fees are paid to the platform. Interest on loans is paid in the loan denomination currency. Another use-case for Libra tokens is governance of the platform.


The team has raised 14.4 million USD on pre-sale, although there is no information about lock-ups for pre-sale participants. The team claims that it will publish its token metrics soon. Recently Libra Credit has announced getting a new round of $12M capital investment.

Verdict: 6,5 out of 10

It is safe to call this an all-star team. There is definitely big interest from VC funds in the project because the core team members have proven records of establishing successful businesses. A negative factor is that projects in this sector usually don’t exhibit substantial growth. The team promises to present its prototype before the ICO somewhere in April. If this happens, it will improve the score.