ChainLink Token (LINKUSD)

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BENQI Will Use Chainlink Price Feeds Natively on Avalanche to Secure Its Protocol

BENQI is excited to announce our upcoming integration of the widely used Chainlink Price Feeds — pre-built and time-tested decentralized oracle networks that provide high-quality price data on-chain for various cryptocurrencies, foreign exchange rates, commodities, stocks, indices, and more. By being one of the initial protocols to leverage Chainlink on Avalanche, BENQI will decentralize one of the fundamental components within the protocol: the price oracle.
Chainlink Price Feeds are a critical component to securing key on-chain operations within BENQI’s algorithmic liquidity markets, particularly around supplying accurate and up-to-date price data to smart contracts when calculating lending rates and checking liquidation thresholds. Already proven to be the industry standard for decentralized price oracles, our integration with Chainlink will ensure the BENQI protocol has highly reliable and tamper-proof data feeds on all the assets offered in our lending and borrowing markets.


https://benqifinance.medium.com/benqi-will-use-chainlink-price-feeds-natively-on-avalanche-to-secure-its-protocol-c5d682cb05c8