Yeti Finance, an progressive decentralized lending protocol with over $850 million in complete worth locked (TVL), has built-in Chainlink Value Feeds (LINK/USD) on Avalanche Mainnet (AVAX/USD), Invezz realized from a press launch.
The protocol has entry to high-quality, tamper-proof worth feeds by integrating the industry-leading decentralized oracle community, thereby guaranteeing protocol solvency. That is potential as a result of debtors’ collateral worth can now be calculated precisely.
Customers can borrow as much as 21x in opposition to LP token portfolios
With Yeti Finance, customers can borrow as much as 21x in opposition to their portfolio of LP tokens and yield-bearing stablecoins for 0% curiosity. Yeti Finance can auto-compound farming rewards for max yield on behalf of customers. Debtors on Yeti Finance mint YUSD, a completely decentralized, hard-pegged stablecoin that requires a 110% collateral ratio.
After reviewing varied oracle options, Yeti Finance built-in Chainlink Value Feeds as a result of they supply a large number of crucial options equivalent to:
Excessive-High quality Knowledge — Chainlink Value Feeds supply information from quite a few premium information aggregators, main to cost information that’s aggregated from tons of of exchanges, weighted by quantity, and cleaned of outliers and wash buying and selling. Chainlink’s information aggregation mannequin generates extra exact world market costs which are inherently proof against inaccuracies or manipulation of any single or small set of exchanges.
Safe Node Operators — Chainlink Value Feeds are secured by unbiased, security-reviewed, and Sybil-resistant oracle nodes run by main blockchain DevOps groups, information suppliers, and conventional enterprises. Chainlink nodes have a powerful observe document of reliability, even throughout excessive gasoline costs and infrastructure outages.
Decentralized Community — Chainlink Value Feeds are decentralized on the information supply, oracle node, and oracle community ranges, producing robust protections in opposition to downtime and tampering by both the info supplier or oracle community.
Status System — Chainlink supplies a strong repute framework and set of on-chain monitoring instruments that permit customers to independently confirm the historic and real-time efficiency of node operators and oracle networks.
RoboYEti made an announcement:
It’s very tough for on-chain lending platforms to perform securely with out Chainlink Value Feeds. By integrating the main supply of decentralized worth information, Yeti Finance is telling customers that the protocol settles for nothing lower than the perfect infrastructure within the ecosystem.
