Inverse Finance is excited to announce the integration of Chainlink Price Feeds into our Anchor money market protocol at inverse.finance. As we expand our product offerings in the coming weeks and months, integrating Chainlink price oracles into our collateral products available on Anchor makes good architectural sense.
When new collateral assets are added to Anchor and users borrow against them, Chainlink infrastructure will help ensure maximum profitability and security by providing users with the most secure and reliable price data. For example, we recently added FLOKI as a new collateral asset and use a Chainlink oracle for that market.
How do Chainlink Price Feeds work?
Chainlink Price Feeds aggregate data sources from hundreds of exchanges to provide reliable price data for smart contracts and other financial applications. Without accurate price oracles, arbitrageurs can exploit asymmetries in pricing information which can lead to lowered confidence in DeFi products in the market as a whole. Additionally, protocols using centralized price oracles can fall prey to exploits such as flash loan attacks, leading to unintended liquidations and loss of user funds.
This integration is important for Inverse due to Chainlink Price Feeds’ provision of high-quality data, security, decentralization, and transparency. Providing the highest quality pricing data for Anchor users is a top priority for us and we look forward to the high accuracy provided by Chainlink Price Feeds. Learn more about Chainlink by visiting chain.link.
Inverse Finance is a decentralized banking and finance application that issues its own over-collateralized stablecoin, DOLA. DOLA is a better alternative to other stablecoins due to its lower cost of borrowing and developer-oriented business focus. DOLA maintains low borrowing costs using the DOLA Fed, an innovative tool that allows Inverse to control borrowing rates across all chains and protocols along with supply and demand for DOLA. Visit Inverse at www.inverse.finance or see us on Twitter at @inversefinance.
Disclaimer: This content is for informational purposes only and should not be construed as legal, tax, investment, financial, or other advice.