Veil

Veil bridges traditional finance credit history into DeFi lending on the Flare blockchain. Users connect their bank accounts via Plaid, and their financial history is processed entirely inside a Trusted Execution Environment (TEE) — the raw banking data never touches the blockchain. The TEE computes a 0–1000 credit score from four weighted factors (balance health, income stability, spending discipline, and account age), then signs and submits only the score on-chain. That score determines the user's loan-to-value ratio: Platinum-tier borrowers (800+) only need 80% collateral while unscored users default to the usual 200% DeFi over-collateralization. Users deposit FLR or FXRP as collateral, borrow against it at their credit-adjusted LTV, and repay with 5% APR interest. Positions are tracked in real time with FTSO V2 price oracles, and liquidation is open to anyone when a health factor drops below 1.0. XRPL users can participate without a Flare wallet by sending XRP payments with structured memos to the SmartAccountReceiver contract, which maps their XRPL address to a derived Flare address.

Veil is built across three tightly integrated layers. The smart contract layer runs on Flare's Coston2 testnet and consists of three Solidity contracts compiled with Foundry and OpenZeppelin v5: CreditVault (core lending logic powered by FTSO V2 price oracles for FLR/USD and XRP/USD), InstructionSender (dispatches encrypted Plaid token payloads on-chain to trigger the TEE), and SmartAccountReceiver (maps XRPL addresses to deterministic Flare addresses for cross-chain interaction without a Flare wallet). The TEE layer is a TypeScript extension built on the Flare TEE Extension SDK. On receiving an on-chain request, it decrypts the user's encrypted Plaid access token, fetches 90 days of account balances and transactions, scores them across four financial dimensions, ABI-encodes the result, and submits a TEE-signed score transaction — the raw financial data never leaves the enclave. The frontend is a React 19 + TypeScript + Vite SPA styled with Tailwind CSS 4 and uses ethers.js v6 for MetaMask wallet interaction and live contract reads. The most technically notable piece is the end-to-end privacy architecture: the Plaid token is encrypted client-side before being posted to the chain, so only the TEE hardware can decrypt it, combining Flare's native TEE infrastructure with Plaid's financial data API to create a fully private, verifiable credit scoring pipeline.