JetFuel’s Lending Platform Fortress Upgrades to Chainlink
JetFuel’s Lending Platform Fortress Upgrades to Chainlink for Faster, More Secure Price Oracles.
Fortress decentralized lending and borrowing service will use Chainlink’s high-quality, tamper-proof price reference data to support the platform’s provisioning of liquidity and calculation of collateral rates. Chainlinking Fortress directly benefits users by ensuring they get accurate and up-to-date valuations on assets used in the platform.
Fortress is part of the Jetfuel Finance ecosystem and enables users to lend and borrow cryptocurrencies by over-collateralizing loans and paying interest on the amount borrowed.
Fortress allows users to lend assets and earn a compounded annual percentage yield (“APY”) that’s paid for by the borrowers. To create a fair pricing mechanism for loan issuance and collateralization maintenance, Fortress needs on-chain price data reflective of current global market rates that can’t be manipulated or experience downtime.
About Chainlink
Chainlink is the industry standard oracle network for powering hybrid smart contracts. Chainlink Decentralized Oracle Networks provide developers with the largest collection of high-quality data sources and secure off-chain computations to expand the capabilities of smart contracts on any blockchain.
About Fortress
Fortress is an Algorithmic Money Market that uses pools of assets with algorithmically derived interest rates based on supply and demand. It allows users to securely borrow and lend cryptocurrency assets through their decentralized protocol by pledging the platform an over-collateralized amount of cryptocurrency. This brings secure and trustless credit and lending to users on the Binance Smart Chain (“BSC”).
