Orion Protocol Integrates with numerous Chainlink Price Feeds to achieve full collateralization
Decentralized liquidity aggregator Orion Protocol is integrating numerous Chainlink Price Feeds. The Protocol will serve as reference prices for issuing temporary loans from its decentralized brokerage & performing collateralization checks on outstanding loans.
According to the announced today, this integration will see all of Chainlink’s oracles serve as a reference price for issuing loans and triggering on-chain liquidations in Orion’s Decentralized Brokerage, by ensuring that all broker services are fully collateralized by ORN.
Orion Protocol will be using and supporting an upcoming Chainlink-powered ORN/ETH price oracle, as well as integrating all price oracles available
Orion Protocol will provide Chainlink with data from its advanced liquidity aggregator to bolster Chainlink’s price oracle services, making Orion Protocol’s trading data available to other DeFi dApps via the Chainlink Network
The decentralized structure and real-time price feeds from all CEX, DEX, and swap pools in the market will provide Chainlink with rich data to enhance their price oracles – adding reliability and accuracy to their ecosystem.
“We’re excited to provide a critical oracle functionality that secures Orion Protocol’s decentralized brokerage, ultimately allowing brokers to get access to short term capital to fund operations while ensuring the protocol as a whole stays fully collateralized,” said Dan Kochis, Director of Business Development, Chainlink. “By doing so, the Orion Protocol is able to combine the liquidity of CeFi with the permissionlessness and trustlessness guarantees of DeFi.”
“The ORN token is important to maintaining an active network of secure and reliable brokers to the DeFi ecosystem, providing strong crypto-economic guarantees to back their services,” said Orion Protocol CEO Alexey Koloskov. “By integrating Chainlink’s price oracles for accurate and transparent reference prices, we can provide unrivaled liquidity to traders, while maintaining built-in protections that shield the protocol against unpredictable market volatility. Furthermore, we look forward to fostering a mutually beneficial collaboration, providing Chainlink with rich trading data to strengthen their price oracles.”
In addition to using Chainlink oracles, Orion Protocol will provide Chainlink with data from their advanced liquidity aggregator to bolster Chainlink’s price oracle services, making Orion Protocol’s trading data available to other DeFi dApps via the Chainlink Network. The decentralized structure and real time price feeds from all centralized exchanges, decentralized exchanges, and swap pools in the market will provide Chainlink with rich data to enhance their price oracles – adding reliability and accuracy to their ecosystem.
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