POLYTRADE x Chainlink Price Feeds Integration

Published on: 04.10.2021
POLYTRADE x Chainlink Price Feeds Integration

Polytrade is integrating Chainlink Price Feeds for accurate stablecoin price data used by smart contracts to calculate the value of real-world invoices by SMEs.

Particularly, Chainlink Price Feeds are referenced to determine a user’s borrowing capacity and check the health of their loan.

As the most widely used and time-tested decentralized oracle network, Chainlink is the industry-standard in decentralized price feeds for DeFi protocols. Chainlink Price Feeds already help secure tens of billions of dollars in value thanks to their premium data quality and robust infrastructure, which has proven highly resilient during market volatility and network congestion. Through Chainlink, borrowers and lenders can feel more confident in the lending process reflecting real-time market conditions.

“Integrating Chainlink Price Feeds will provide Polytrade with real-time access to stablecoin price feeds sourced and aggregated across multiple exchanges, ultimately helping secure and protect our platform from bad actors hoping to manipulate price feeds and negatively impact businesses and investors using our platform.” — Arul Prakash, Chief Operating Officer at Polytrade Finance.

About Polytrade

Polytrade is a blockchain-based decentralized protocol aiming to transform receivables financing connecting buyers, sellers, insurers, and investors for a seamless experience. It brings safe and insurance-backed real-world assets to the crypto world. Polytrade will provide real-world borrowers access to low interest and swift financing to free up critical working capital tapped from crypto lenders. While the project will start with a focus on trade finance, eventually, it would evolve into a full-stack lending protocol for small businesses.

About Chainlink

Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.

📰 INFO

https://medium.com/@Polytrade/polytrade-is-integrating-chainlink-price-feeds-to-help-secure-sme-focused-stablecoin-lending-165266a77c6c

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