Wise Token Integrates Chainlink Price Feeds
Wize Token announced integration with Chainlink Price Feeds to determine the real-time value of assets, enabling it to issue fair market loans and secure its liquidation mechanism.
WiseSoft selected Chainlink Price Feeds because they are time-tested and easy-to-integrate oracle infrastructure that provides high-quality data feeds backed by robust decentralized security. Chainlink already secures billions of dollars in value across DeFi, with proven resistance to a variety of unexpected situations like API downtime, flash crash outliers, and data manipulation attacks like flash loans.
Wise tokens are asset-backed utility tokens on Ethereum and Binance Smart Chain serviced by a full suite of financial tools, such as Staking, Lending, Leveraged Lending, Borrowing, Liquidity Providing, and Profit sharing, to name a few. The Wise platform’s flagship release was ETH and BNB-backed ownerless liquidity pools, which offer a safe way to store value and earn interest. In addition to staking pools, Wise will soon offer a lending and borrowing service that allows WISE and WISB token holders to use interest-earning staked assets as collateral for borrowing almost any cryptocurrency/stablecoin.
The Chainlink integration is an instrumental upgrade to support Wise’s ecosystem expansion, as it connects Wise’s lending and borrowing smart contract to on-chain price feeds that are up-to-date, accurate, and tamper-proof. By leveraging Chainlink Price Feeds, Wise can perform critical on-chain functions like determining the size of a loan from user-supplied collateral and consistently checking to make sure loans are fully collateralized.
What is 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.
What is Wise?
Wise Token is setting a new, ethical standard for DeFi. It is a fairly launched, fairly distributed, fully decentralized, crypto-backed, and highly liquid utility token. The Wise team is building a full suite of DeFi products including staking, borrowing, lending, LPs, DEX swaps, and leveraging options. In line with our team and community’s ethos, this is a 100% efficient ecosystem and all of the ecosystem’s profits go back to Wise Token holders.
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