According to the company’s announcement, Euler Finance’s non-custodial borrowing and lending mechanism on the Ethereum public blockchain now includes Chainlink Price Feeds.
As a risk-averse procedure, Euler focuses a lot on safeguarding user money. Thanks to its distinctive risk management structure, users are exposed to a novel approach to loan and borrowing marketplaces.
Chainlink Price Feeds have been integrated into Euler Finance, giving it accessibility to market-leading information that backs up the unwavering safety and dependability that consumers have come to expect from Euler’s loan and borrowing capability. This incorporation further protects customers’ money from loss because Chainlink has already assisted in securing important DeFi standards that are accountable for hundreds of billions of dollars in smart contract amounts.
To ease worries about TWAPs after The Merge, Chainlink was selected. There is ample evidence to conclude that multi-block cyberattacks are more probable on ETH after the merging than on ETH before The Merge.
Furthermore, Lido Finance’s staking Ethereum edition, stETH, can be deposited directly, thanks to the Chainlink integration. Lenders on Euler would profit from increased yield produced by borrowers as one of the initial on-chain venues for stETH financing.
To keep strong safety and high accessibility even in the face of unforeseen events like swap outages, flash crashes, and data manipulation threats via flash loans, Euler will indeed be able to take advantage of the dependable and decentralized market data that Chainlink’s top oracle network makes available to DeFi procedures.
The heart of DeFi lending systems and Euler isn’t an exception, is price statistics. Chainlink Pricing Feeds have such a track record of securing loan procedures as the great price data infrastructure for smart contracts.
Chainlink is the mainstream technology for creating, getting access to, and providing oracle services required to enable hybridized smart contracts on virtually any blockchain. Smart contracts can leverage Chainlink oracle networking to establish the link to every external API. They can also use safe off-chain computations to build content-rich apps. Furthermore, Chainlink safeguards more than tens of billions of dollars across financial services, insurance, gaming, and other important industries. It also offers a standard API and all blockchain platforms for prestigious data suppliers and corporate giants.
Euler is a capital-efficient decentralized network lending system that enables consumers to buffer against uncertain markets or collect interest on existing cryptocurrency assets without the assistance of a reliable third party. Permissionless loan marketplaces, responsive interest rates, secured collateral, MEV-resistant liquidations, multi-collateral stability pools, sub-accounts, risk-adjusted lending, and many other innovations are among those offered by Euler that has never been seen before in DeFi.