The move by Teneo Finance will rely on Chainlink’s proven capabilities to prop up DeFi infrastructure and help the platform thrive.
Teneo Finance X Chainlink
Teneo Finance has officially announced it will be the latest project to implement Chainlink Keepers on BNB Chain.
The news was confirmed via an exclusive press release obtained by BSC News on March 17. The team will be leveraging Chainlink Keepers to help securely and cost-efficiently automate Teneo Reflowsand token Buybacks. As a consequence of the move, the reward distributions for Teneo’s users will be further automated in a manner that leverages decentralized infrastructure.
“As the industry-leading oracle network, Chainlink provides superior, time-tested reliability guarantees unmatched by other projects in the space. Chainlink Keepers help securely automate Teneo’s Reflows and Buybacks to save valuable developer resources and create a more seamless DeFi experience for our community members,” The Tenio team stated.
The decision to decentralize Teneo’s Reflow and Buyback function using Chainlink Keepers was made due to Chainlink’s reliability. With the time-tested, provably reliable node operators that currently help secure tens of billions of dollars in DeFi,
“The proven infrastructure of Chainlink helps ensure that every Reflow and Buyback is executed on time and in a trust-minimized manner,” Teneo stated in the press release.
Why Chainlink Keepers?
The Teneo Finance team were clear on why they had chosen to take this step and outlined specifically that the following reasons made the decision a no-brainer:
Decentralized Execution — Chainlink Keepers provide reliable, trust-minimized automation with no single point of failure, mitigating risks around manual processes and centralized servers.
Increased Efficiency — Projects that use Chainlink Keepers are able to reduce time spent on DevOps, minimize operational overhead, and streamline development workflows.
Enhanced Security — Chainlink Keepers sign on-chain transactions themselves, enabling automated smart contract execution without exposing private keys.
Reduced Costs — Chainlink Keepers perform efficient off-chain computation for smart contracts, allowing developers to build feature-rich dApps at lower costs.
What is Teneo Finance?
Teneo is a sustainable incentive-backed ecosystem allowing holders to earn passively while opening new arbitrage opportunities for those who seek short-term gains. It also gives projects the opportunity of deflationary staking.
Where to find Teneo Finance:
Website | Telegram Channel | Twitter |
Source : bsc.news
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