C.R.E.A.M. Finance integrates Chainlink Price Feeds on the Ethereum mainnet
C.R.E.A.M. Finance, a peer to peer lending and exchange platform on Ethereum and Binance Smart Chain integrates Chainlink Price Feeds on the Ethereum mainnet as its primary oracle solution. Chainlink oracles are used to price assets across all Cream markets when issuing loans & checking collateralization.
According to the announcement on Dec 3, the Chainlink Network is now providing secure and reliable pricing data on the Ethereum mainnet to C.R.E.A.M. for the following ETH-denominated markets: LINK, COMP, YFI, BUSD, USDT, USDC, UNI and AAVE.
By leveraging Chainlink, C.R.E.A.M. is able to take advantage of a decentralized network of independent, Sybil resistant oracle networks to obtain market prices for many leading cryptocurrencies. Each Chainlink oracle node sources price data for multiple premium off-chain data aggregators, ensuring that the data source itself reflects a volume adjusted average aggregated from across both CEXs and DEXs. The individual nodes’ responses are then aggregated to formulate a weight-adjusted on-chain price that our smart contracts can reference when making loans or receiving deposits.
“Chainlink ensures that C.R.E.A.M. has access to the the most robust and accurate price data in order to maintain a safe and reliable liquidation process, even during outlier events such as flash loans, high gas prices, periods of network congestion, and centralized infrastructure outages like the recent Infura incident.”, the company’s blog said.
As AZCoin News recently reported, privacy-focused blockchain Beam integrates Chainlink Price Feeds to enable its developers to build DeFi dApps. The initial integration will focus on using Chainlink oracles to maintain collateralization of its confidential stablecoin protocol. Chainlink is the most widely used and secure way to power universal smart contracts.
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