B.Protocol Integrates Chainlink Keepers On Ethereum Testnet
B.Protocol Integrates Chainlink Keepers on Ethereum Testnet to Further Secure Liquidations Within B.AMM.
The use of the keepers is two-fold:
1. Whenever the B.AMM prices deviates significantly from current market price, due to large inventory imbalance, the keepers will automatically trigger an arbitrage transaction with DEX aggregator. The arbitrage will decrease the imbalance, and will allow the B.AMM to offer prices that are closer to the market price.
2. In lending platforms where a dedicated liquidation transaction is needed, Chainlink Keepers automatically step in and trigger liquidation functions, adding more robustness to our liquidation mechanism.
B.AMM is designed to improve the lending platform liquidation process, and allow them better capital efficiency, by incentivizing liquidity providers — instead of bots and miners — to liquidate undercollateralized loans within decentralized lending markets.
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 B.Protocol
B.Protocol is a Backstop Liquidity protocol, handling liquidations in scale for DeFi lending platforms. By creating a transparent, committed, smart contract-based liquidation system, B.Protocol enables better capital efficiency for DeFi users, while creating another layer of stability for the lending platforms themselves. As liquidations are the main growth engine for DeFi, The B.Protocol backstop solution is unleashing its growth potential.
