YouHodler x Chainlink Integration
YouHodler announced they are now using industry-leading oracle solution Chainlink to increase the transparency and reliability of backend pricing mechanisms.
The initial integration involves using Chainlink Price Feeds to access high-quality decentralized exchange rates on various cryptocurrency price pairs, which are then referenced in lending product when determining users’ borrowing limits and checking the collateralization of outstanding loans.
“With Chainlink Price Feeds, we now have a more reliable and transparent backend pricing mechanism, ensuring our crypto-focused lending product consistently reflects current market prices in a manner any user can independently verify as fair,” stated Ilya Volkov, CEO of YouHodler.
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 YouHodler
YouHodler is a fintech platform that helps people access the benefits of the crypto economy. It allows users to get instant cash and cryptocurrency loans, exchange crypto, fiat and stablecoins quickly and easily, and earn up to 12% APR + compounding interest by depositing crypto in their account.
The platform has the highest loan to value ratio (90%), with minimum loan amounts starting at just $100 and accepts the top 30 coins as collateral with instant credit card and bank withdrawals included. YouHodler supports BTC, ETH, ADA, BNB, LTC, XLM, XRP, DASH, HT, DOGE and other popular cryptocurrencies and tokens. Users’ funds are protected with Ledger’s industry-leading and independently-certified security technology, as well as their insurance program.
📰 INFO
