Chainlink will be Oracle's solution for C.R.E.A.M. Finance
C.R.E.A.M. Finance announced a new integration with regard to Oracle services. They have chosen Chainlink as their primary Oracle solution provider and they will integrate their prices in the network.
Chainlink provides reliable and secure price data for many blockchain projects on the Ethereum mainnet. They currently offer pricing data to C.R.E.A.M. for many markets such as LINK, COMP, YFI, BUSD, USDT, USDC, UNI and AAVE.
Reliable pricing data for loan and exchange use cases
Oracles are critical components in the DeFi ecosystem. Chainlink is one of the leaders working with many products DeFi to connect them to data sources on and off the chain. C.R.E.A.M. Finance offers loan and exchange services and you need a reliable pricing data solution. Their new partnership with Chainlink can help them attract more users by focusing on this security feature.
The new partnership with Chainlink greatly helps Cream connect with off-chain data sources. According to his blog post:
«C.R.E.A.M. is committed to working alongside other DeFi blue chips to build the most robust set of infrastructure to support its loan and loan markets. Therefore, we are pleased to now use Chainlink's market leading decentralized network of pricing oracles to leverage high-quality off-chain price data to calculate current volume-adjusted market prices of assets.
DeFi products connect oracles to your smart contracts. The data from the oracles activates the smart contracts and the automatic process will be maintained. Chainlink's Oracle solution is fully decentralized and assures customers of Sybil-resistant features.
Platforms like C.R.E.A.M., working in loan, betting and exchange services, need accurate price data for their settlement processes. By working with Chainlink, Cream is confident that users will receive fair rewards. According to the announcement:
“Chainlink ensures that C.R.E.A.M. has access to the most robust and accurate pricing data to maintain a secure and reliable settlement process, even during unusual events such as urgent loans, high gas prices, periods of network congestion, and centralized infrastructure outages such as the recent incident of Infura «.
The partnership between Cream and Chainlink also has a benefit for LINK holders: the integration results in a new service for them. LINK holders can now receive Cream service by guaranteeing their tokens.
Associations such as the recent one between C.R.E.A.M. Finance and Chainlink benefit the entire DeFi community. Not only will the DeFi platform be sure to provide more efficient services, but token holders will also have peace of mind when investing.
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