OpenDeFi Integrates Chainlink Oracle on mainnet to price tokenized gold & silver

OpenDeFi protocol is using Chainlink oracles on mainnet to price tokenized gold & silver (XAU/USD & XAG/USD). By providing tamperproof, fair market valuations for these on-chain assets, OpenDeFi can offer no-slippage trading and maintain full collateralization, according to an announcement on Dec.22.

“The Chainlink Network delivers secure and reliable price data to our smart contracts, ensuring that trading and maintaining collateralization of these tokenized assets remain in accordance with the fair market price of the real-world assets they represent,” the blog post said.

OpenDeFi gives investors access to tokenized gold and silver that is fully insured and held by a trusted custodian. These features allow us to offer trades with no price slippage, provide flash loans using tokenized gold and silver as collateral, and pay out yield on users’ staked tokens, which are operating as collateral in the protocol.

“Chainlink as a project has been one of the most trusted in the space for a while now, and we couldn’t be more excited to work with them.” COO Tarusha Mittal of OpenDeFi said.

We continue to add more asset classes as well as financial services such as an asset-backed Debit Card that can be used anywhere, anytime to utilise the 100% liquidity that we offer, he added.

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