• Latest
  • Trending
Alchemix integrates with Chainlink to make DeFi loans a ‘set and forget’ thing

Alchemix integrates with Chainlink to make DeFi loans a ‘set and forget’ thing

September 24, 2021
First rate move should be in July, with more to follow in H2 2022

First rate move should be in July, with more to follow in H2 2022

May 27, 2022
EMERGENCY!!!! BITCOIN IS CRASHING DOWN!!!! BITCOIN PRICE PREDICTION 2022 // BITCOIN NEWS TODAY

EMERGENCY!!!! BITCOIN IS CRASHING DOWN!!!! BITCOIN PRICE PREDICTION 2022 // BITCOIN NEWS TODAY

May 27, 2022
Crypto Analyst Says Altcoin Bulls Are Taking a Dangerous Gamble As Bitcoin Dominance Surges – Here’s Why

Crypto Analyst Says Altcoin Bulls Are Taking a Dangerous Gamble As Bitcoin Dominance Surges – Here’s Why

May 27, 2022
Approaches and Strategies for 2022 By DailyCoin

Approaches and Strategies for 2022 By DailyCoin

May 27, 2022
Terra to burn 1B UST from the community pool as holders vote for it

Terra to burn 1B UST from the community pool as holders vote for it

May 27, 2022
Small Bitcoin whales may be keeping BTC price from ‘capitulation’ — analysis

Small Bitcoin whales may be keeping BTC price from ‘capitulation’ — analysis

May 27, 2022
Huobi Global co-hosts Blockchain Forum to spearhead Vietnam’s Metaverse future

Huobi Global co-hosts Blockchain Forum to spearhead Vietnam’s Metaverse future

May 27, 2022
What is Ethereum? Is it a blockchain or crypto? History, co-founders and more, find out here

What is Ethereum? Is it a blockchain or crypto? History, co-founders and more, find out here

May 27, 2022
Spooky Solana breakdown begins with SOL price facing a potential 45% drop — Here’s why

Spooky Solana breakdown begins with SOL price facing a potential 45% drop — Here’s why

May 27, 2022
Could Litecoin (LTC) and Shiba Inu (SHIB) be Outdone by Newcomer Logarithmic Finance (LOG)?

Could Litecoin (LTC) and Shiba Inu (SHIB) be Outdone by Newcomer Logarithmic Finance (LOG)?

May 27, 2022
Bird, Beast, Plant Guide & Tutorial | Axie Infinity – Blockchain NFT game

Bird, Beast, Plant Guide & Tutorial | Axie Infinity – Blockchain NFT game

May 27, 2022
Top cryptocurrencies in the UK 2022 

Top cryptocurrencies in the UK 2022 

May 27, 2022
OOF CRYPTO
  • Home
  • Bitcoin
  • Ethereum
  • Solana
  • Altcoins
  • Market & Analysis
  • ICO
OOF CRYPTO
No Result
View All Result

Alchemix integrates with Chainlink to make DeFi loans a ‘set and forget’ thing

by oof_pj
September 24, 2021
in Chainlink
0


Ethereum-based self-paying loan protocol Alchemix has built-in Chainlink keepers into its ecosystem to permit for much more seamless providers on its DeFi platform, the Chainlink staff shared in a launch with CryptoSlate.

How Alchemix innovates DeFi loans

Alchemix routes consumer deposited collateral into Yearn vaults—on-chain yield aggregation methods that chase the very best returns throughout the DeFi ecosystem. The returns generated are then used to repay consumer debt. Because of this, customers are successfully supplied an advance on their future yield, rising capital effectivity and leading to a brand new “cash LEGO” accessible to be used in different sensible contract purposes.

Now, by utilizing Chainlink Keepers, Alchemix is now actually set-and-forget, which means a consumer can take out a DeFi mortgage, earn a DeFi yield, and pay the DeFI mortgage again over time with their yield with none guide enter. 

The staff has additionally sponsored the launch of a brand new Chainlink Value Feed for our native token ALCX and our stablecoin alUSD to help their adoption as collateral throughout the DeFi ecosystem.  

The launch of a Chainlink Value permits ALCX and alUSD to develop into simply built-in by any DeFi protocol in a safe and dependable method. “By leveraging verifiable off-chain computation, Chainlink Keepers regularly monitor time off-chain and set off the vault harvesting and vault flushing course of every day on behalf of customers in a dependable and low-cost method,” the staff defined its determination to make use of Chainlink, including:

“This helps present customers larger assurance that their positions can be constantly paid down over time, with none guide interactions from themselves or the Alchemix staff.”

A number of the distinctive advantages of Chainlink Keepers embrace excessive uptime, low prices, decentralized execution, and expandable Computation.

Chainlink worth feeds for alUSD

Along with utilizing Keepers, Alchemix has additionally sponsored the launch of the ALCX/USD and alUSD/USD Chainlink Value Feeds which at the moment are reside on Ethereum mainnet. Chainlink Value Feeds are secured by a decentralized community of safe oracle nodes that fetch monetary market knowledge from a number of premium knowledge aggregators, leading to extremely accessible and tamper-resistant worth updates with full market protection that DeFi protocols can depend on to cost belongings on-chain. 

The feeds have confirmed to be extremely resilient in opposition to a mess of sudden conditions like API downtime, flash crash outliers, and knowledge manipulation (e.g. flash loans).

Protocols like Abracadabra Cash have already begun to leverage Chainlink Value Feeds to help ALCX as collateral, enabling customers to mint the MIM stablecoin in opposition to their ALCX. Moreover, the launch of the ALCX/USD Chainlink Value Feed performs a key position in our work with Aave, the place we’re working so as to add help for alUSD on their decentralized cash market. 

Sooner or later, extra Chainlink Value Feeds are deliberate, akin to alETH, successfully utilizing Chainlink as a cash lego that helps make our native asset extra simply composed inside different DeFi purposes.

Get an edge on the cryptoasset market

Entry extra crypto insights and context in each article as a paid member of CryptoSlate Edge.

On-chain evaluation

Value snapshots

Extra context

Join now for $19/month Explore all benefits

YOU MAY ALSO LIKE

Top cryptocurrencies in the UK 2022 

Illuvium Expands Its Chainlink Integration With Price Feeds

Like what you see? Subscribe for updates.



Source link

Tags: AlchemixChainlinkDeFiForgetIntegratesLoansSet
ShareTweetPin

Search

No Result
View All Result

Recent News

First rate move should be in July, with more to follow in H2 2022

First rate move should be in July, with more to follow in H2 2022

May 27, 2022
EMERGENCY!!!! BITCOIN IS CRASHING DOWN!!!! BITCOIN PRICE PREDICTION 2022 // BITCOIN NEWS TODAY

EMERGENCY!!!! BITCOIN IS CRASHING DOWN!!!! BITCOIN PRICE PREDICTION 2022 // BITCOIN NEWS TODAY

May 27, 2022
Crypto Analyst Says Altcoin Bulls Are Taking a Dangerous Gamble As Bitcoin Dominance Surges – Here’s Why

Crypto Analyst Says Altcoin Bulls Are Taking a Dangerous Gamble As Bitcoin Dominance Surges – Here’s Why

May 27, 2022

Recent News

  • First rate move should be in July, with more to follow in H2 2022
  • EMERGENCY!!!! BITCOIN IS CRASHING DOWN!!!! BITCOIN PRICE PREDICTION 2022 // BITCOIN NEWS TODAY
  • Crypto Analyst Says Altcoin Bulls Are Taking a Dangerous Gamble As Bitcoin Dominance Surges – Here’s Why

Categories

  • Altcoins
  • Bitcoin
  • Blockchain
  • Chainlink
  • Cryptocurrency
  • Dogecoin
  • Ethereum
  • ICO
  • Litecoin
  • Market & Analysis
  • Rippl
  • Videos

Follow Us

Find Via Tags

Altcoin Altcoins analysis Analyst Bitcoin blockchain BTC Buy Cardano Chainlink coin Crypto Cryptocurrencies Cryptocurrency DeFi Digital DOGE Dogecoin ETH Ethereum exchange Heres Inu Investors Launch launches Litecoin Market Markets metaverse news NFT NFTs Price Prices rally Ripple Ripples Shiba Solana Today token Top Trading XRP
  • Privacy & Policy
  • About Us

© 2021 oof Crypto

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Solana
  • Altcoins
  • Market & Analysis
  • ICO

© 2021 oof Crypto