Planet Finance x Chainlink Integration

Published on: 30.11.2021

Planet Finance announced integration with  Chainlink Verifiable Random Function (VRF) to run a successful airdrop snapshot of GAMMA tokens & Chainlink Price Feeds to access time-tested exchange rates needed to price assets on Green Planet — Planet Finance’s new lending and borrowing protocol.

Now, Green Planet users can use top cryptocurrencies as collateral to access loans, with stronger assurances that the issuance and liquidation mechanism is in sync with wider global markets. Not only does it help protect borrowers by creating a more robust liquidation mechanism, but it protects lenders by helping maintain solvency.

“Chainlink was our go-to solution for off-chain oracle infrastructure, providing us with secure RNG to conduct a fair airdrop and accurate price feeds to support a new lending service. These Chainlink-powered solutions were seamless to integrate while also giving our users the peace of mind that important on-chain processes are now more fair, reliable, and accurate.” — Planet Finance Team

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 Planet Finance

Planet Finance launched in May of 2021. It’s a financial protocol consisting of different planets, each their own app, designed to enable anyone to activate their capital and put it to work.

Created by an anonymous team, Planet Finance is a community driven project with the aim of bringing decentralized finance to the next billion people.

📰 INFO

https://planetfinanceio.medium.com/planet-finance-using-chainlink-vrf-and-price-feeds-for-secure-launch-of-green-planet-and-gamma-bcb4a7a00729

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