Tulip Protocol x Chainlink Integration
Tulip Protocol, the premier yield aggregation and leveraged yield farming platform, is integrating Chainlink Price Feeds on the Solana blockchain.
By integrating the industry-leading decentralized oracle network, they will gain access to a high-quality, tamper-proof source of financial market data needed to secure leveraged yield farm positions. As a result, both lenders and borrowers will be provided a greater assurance that risky positions will be properly liquidated.
The integration of Chainlink Price Feeds will allow them to upgrade the security and reliability of Tulip’s oracle mechanism to the industry’s most time-tested and secure solution. Chainlink’s decentralized and high speed oracles on Solana will be key to making sure unhealthy positions are properly liquidated in real-time, which ultimately helps protect lenders from becoming insolvent and borrowers from faulty liquidations due to inaccurate data or faulty oracle infrastructure.
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.
About Tulip Protocol
Tulip Protocol is Solana’s yield aggregation homestead, with over $800MM in TVL and 40+ active vaults. Users can also access our lending market with over 15 lending pairs and over 20 leveraged farming pairs.
📰 INFO
