bZx x Chainlink Keepers Integration
bZx announced successful integration with Chainlink Keepers to increase the reliability of liquidation mechanism.
Given the great success of Chainlink Price Feeds in securing bZx’s oracle mechanism on mainnet despite extensive market volatility and network congestion, they felt confident in expanding integration with Chainlink to Keepers. Chainlink Keepers are secured by the same highly reliable network of node operators and enhance the functionality of the bZx protocol without compromising on security and transparency.
They integrated Chainlink Keepers to increase the reliability of liquidation mechanism, further ensuring solvency of all lending pools and upholding the integrity of user’s collateralization ratios. Some of the features of Chainlink Keepers that make them a great addition to the bZx protocol include:
- High Uptime — Chainlink Keepers are run by the same professional DevOps teams that have an established on-chain performance history of providing high reliability to Chainlink Price Feeds during extreme network congestion.
- Low Costs — Chainlink Keepers incorporate several gas-optimizing features that lower and stabilize the costs of automating maintenance tasks for users, most notably a rotating node selection process to prevent gas price auction wars.
- Decentralized Execution — Chainlink leverages a decentralized and transparent pool of Keepers to provide strong guarantees around secure contract automation, saving teams time and mitigating the risks around manual interventions or centralized servers.
- Expandable Computation — Chainlink Keepers perform off-chain computations and generate calldata for smart contracts, allowing developers to build advanced, trust-minimized dApps at lower costs.
“Whether it’s Chainlink Price Feeds or Keepers, our team has been impressed with Chainlink’s extensive track record of reliability and how easy their solutions are to integrate,” stated Tom Bean, CEO of bZx. “Adding Chainlink Keepers empowers us to create a more robust mechanism for liquidations to ensure continued solvency of the protocol, ultimately creating a more secure and reliable user experience.”
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. Managed by a global, decentralized community, Chainlink currently secures billions of dollars in value for smart contracts across decentralized finance (DeFi), insurance, gaming, and other major industries.
About bZx
The bZx protocol is an multi-chain decentralized platform built for DeFi lending and margin and leverage trading that differentiates itself from competitors through a smart contract-powered token system. bZx protocol’s unique architecture ensures that the gas fee associated with using bZx does not increase along with the number of assets supported by the platform.
On bZx, iTokens and pTokens can be composed into novel financial products, used as collateral for loans, or listed on any exchange to instantly enable margin lending and trading. bZx Protocol allows anyone to build applications that empower lenders, borrowers, and traders with the most flexible decentralized finance protocol on Ethereum.
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