The integration will ensure accurate collateral pricing and liquidation assessment for users of Growth DeFi’s MOR protocol.
Growth DeFi Adopts Chainlink’s Price Oracles
The integration will supply MOR protocol with highly reliable, secure and real-time price data feeds. Growth DeFi announced the new development in a September 14th Medium post:
“We’re excited to announce that Growth DeFi has integrated Chainlink Price Feeds on the Binance Smart Chain mainnet for our collateralized stablecoin lending protocol: MOR.”
The post stated that with price feeds from Chainlink, users could be sure they’re working with precise data whilst interacting with MOR.
What Informed The Choice For Chainlink?
Safe – Growth DeFi’s Development Lead asserted that forming a synergy with Chainlink was a natural choice:
“Integrating with Chainlink price feeds is a no-brainer, there are no other alternatives that make sense.”
Chainlink’s price feeds have been battle-tested and proven robust: they have demonstrated a high degree of security and availability during times of instability such as flash loan attacks and network downtimes.
Other attributes that made Chainlink stand out include:
accurate and manipulation-resistant high-quality data
Chainlink’s nodes are operated by some of the blockchain industry’s top decentralized development and operations teams and data providers with a strong history of reliability
Its data oracles are decentralized at the source, node, and network levels, providing a shield against network downtime and manipulation by a central authority.
The activities of node operators and oracle networks can be verified by users. This provides a checks-and-balances structure for each component layer of Chainlink’s oracle to perform optimally.
With accurate tamper-resistant price feeds available on MOR protocol, users have a better guarantee that the pricing of their collaterals and liquidation assessment is done with the most accurate data.
About Growth DeFi
Growth DeFi is a multi-chain decentralized protocol. It provides a framework for users to maximize their yield farming earnings by leveraging the best yielding opportunities across different chains and multiple assets.
Chainlink helps blockchain protocols maximize the capabilities of smart contracts by providing them with a secure and reliable network of data oracles. Chainlink’s data solutions come in pre-built, easy-to-integrate offerings.
Chainlink is managed by a global decentralized community and is trusted by an ever-growing list of blockchain platforms in DeFi, insurance and gaming etc. sectors
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.