Reflexer is integrating Chainlink oracles to help power the testnet RAI reflex bond

Reflexer has successfully integrated Chainlink’s ETH/USD Price Reference Data as the basis for collateralization checks on their first Generalized Ethereum Bond (GEB) RAI—alow volatility, trust minimized collateral for DeFi, according to the anncouncement on July 21.

GEB is a framework for building reflex bonds — a new asset type meant to be used as low volatility and trust minimized collateral in other DeFi protocols. Reflex bonds dampen the volatility of their underlying assets with the use of an autonomous, on-chain feedback mechanism. This mechanism constantly changes the users’ borrowing power and incentivizes them to generate more bonds or, in other cases, close out their positions.

RAI, a reflex bond collateralized solely by ETH. It is designed to slow down ETH’s price moves and thus provide a more “stable” alternative to Ether as DeFi economic bandwidth. The motivation for building a dampened version of ETH is to offer DeFi users more time to exit their positions and thus avoid liquidation.

In order to cover our testnet ETH price feeds, we chose to integrate Chainlink’s ETH/USD Price Reference Data oracle network because it’s a ready-made solution that is already securing hundreds of millions of dollars in value across many leading DeFi applications, the company’s blog said.

Read more:

Follow us on Telegram

Follow us on Twitter

Follow us on Facebook

You might also like

LATEST NEWS

LASTEST NEWS