UNION INTEGRATES CHAINLINK ORACLES FOR MAINNET PRICING OF UNION PRODUCTS.
UNION, the DeFi protection protocol, is thrilled to announce their integration of Chainlink on mainnet to calculate pricing and risk parameters for their collateral optimization product (C-OP), solvency capital requirement (SCR), and minimum capital requirement (MCR) protection pools. By sourcing data through the industry-leading decentralized oracle network, Chainlink enables UNION users to get strong assurances that coverage risks are accurately measured and the solvency of capital pools is securely maintained.
UNION will begin by integrating the following Chainlink Price Feeds: ETH/USD, BTC/USD, DAI/USD, and USDC/USD. These decentralized price oracles will be referenced by UNION smart contracts during SCR and MCR calculations. By relying on Chainlink’s high-quality price data, their bundled protection products are able to provide users with a seamless yet highly secure and reliable way of hedging DeFi’s inherent risks.
About Chainlink
Chainlink is the most widely used and secure way to power universally connected smart contracts. With Chainlink, developers can connect any blockchain with high-quality data sources from other blockchains as well as real-world data. Managed by a global, decentralized community of hundreds of thousands of people, Chainlink is introducing a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance and gaming ecosystems, among others
About UNION
UNION is a technology platform that combines bundled protection and a liquid secondary market with a multi-token model. DeFi participants manage their multi-layer risks across smart contracts and protocols in one scalable system. UNION decreases the entry barriers for retail users and lays the foundation for institutional investors. UNION’s full-stack DeFi protection is inclusive, composable, and brings battle-tested capital and pricing models from TradFi to the DeFi ecosystem.
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