The industry-leading oracle network brings premium data to a lending protocol, a decentralized social media dApp, and an analytics platform.
Powering DeFi and Beyond
Many of the most exciting Web3 projects connect their smart contracts with Chainlink’s decentralized data feeds. With over $20 billion secured, the oracle network is becoming the central infrastructure for smart contracts across blockchains.
In this week’s roundup:
Securing Euler’s Lending and Borrowing
Euler integrated Chainlink Price Feeds on Ethereum to calculate collateral values within its permissionless lending protocol.
The upgrade from Time Weighted Average Price (TWAP) oracles to Chainlink Price Feeds was made to address concerns around TWAPs post-merge. The merge poses risks to TWAPs, while Chainlink Data Feeds are immune to multi-block oracle manipulation attacks.
“Price data is the lifeblood of DeFi lending protocols, and Euler is no exception. As best-in-class price data infrastructure for smart contracts, Chainlink Price Feeds have a proven track record when it comes to securing lending protocols,” said Euler’s CEO, Michael Bentley.
Chainlink Price Feeds provide critical features such as:
- High-Quality Data: The network sources data from numerous premium data aggregators, weighted by volume, and cleaned of outliers and wash trading.
- Secure Node Operators: They are secured by independent, security-reviewed, and Sybil-resistant oracle nodes.
- Decentralized Network: The feeds are decentralized at every level, generating strong protections against downtime and tampering.
- Reputation System: Chainlink provides a robust reputation framework and set of on-chain monitoring tools.
TipMeACoffee (TMAC), a social media dApp, integrated Chainlink Price Feeds on BNB Chain to provide accurate price conversions to its users.
The SocialFi project rewards users with $TMAC tokens for their activity on the platform, and Chainlink’s price feeds help calculate price conversions during withdrawals.
The integration was revealed to BSC News by the Chainlink team via press release.
“Without any doubt, Chainlink provides the top oracle services in the blockchain industry. The integration of Chainlink trust-minimized services will help get TipMeACoffee closer to achieving its goal of building a decentralized social media platform,” said Breeze, the DAO that launched TMAC.
Better Alpha from Blockpour
Blockpour integrated over forty Chainlink Price Feeds to enhance its analytics platform.
Chainlink’s real-time price data provides Blockpour with more reliable metrics, giving users access to more informed insights and helping them identify better trading opportunities.
“We’re excited to use Chainlink Price Feeds to help generate metrics on our platform. By accessing market data from Avalanche, Ethereum, Fantom, Moonbeam, and Polygon, our users are better able to identify and take advantage of cross-chain arbitrage opportunities,” said Brayden Abick, Blockpour CTO and Founder.
Check out BSC News’ weekly roundup to keep up with the latest regarding the smart contract powerhouse.
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What is Chainlink:
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. They currently secure tens of billions of dollars across DeFi, insurance, gaming, and other major industries and offer global enterprises and leading data providers a universal gateway to all blockchains.
Where to find Chainlink:
Website | Twitter | Docs | Community
What is Euler Finance:
Euler is a capital-efficient permissionless lending protocol that helps users to capture interest on their crypto assets, or hedge against volatile markets, without the need for a trusted third party. Euler features several innovations, including permissionless lending markets, reactive interest rates, protected collateral, MEV-resistant liquidations, multi-collateral stability pools, sub-accounts, risk-adjusted loans, and more.
Where to find Euler Finance:
Website | Twitter
What is TipMeACoffee:
TipMeACoffee is a decentralized social media platform that promotes true freedom of speech. It rewards its users through tokenization and tries to avoid censorship and centralization.
Where to find TipMeACoffee:
Website | Twitter
What is Blockpour:
Blockpour is a multi-chain data analytics platform that provides traders with the tools and metrics they need to navigate the world of DeFi. Crypto traders can leverage Blockpour’s real-time multi-chain data feeds and intuitive interface to identify trends across DeFi and discover their alpha.
Where to find Blockpour:
Website | Twitter
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