QiDAO Protocol Integrates Chainlink Price Feeds Oracles
Decentralized protocols like QiDao enable users to easily borrow by putting up their crypto holdings to use as collateral. DeFi borrowing gives investors a means to avoid leaving crypto-assets sitting idle and tap into their tokens’ value without having to sell. With enough collateral, any interested borrower can access liquidity through the tokens they love and be their own bank.
To allow users to borrow, QiDao relies on accurate pricing data. Without this data, the protocol would not be able to determine the value of a user’s collateral or maintain the safety of the protocol through liquidations of over-leveraged positions.
For these reasons, QiDao has integrated Chainlink Price Feeds as its exclusive oracle solution to provide accurate price data to its platform, enabling users to borrow against their crypto assets.
Chainlink is a decentralized network of oracles that enables smart contracts to securely interact with real-world data and services that exist outside of blockchains. One of the main reasons we decided to use Chainlink Price Feeds is because they are proven to be the most time-tested market data solution available in the entire blockchain industry.
By integrating Chainlink Price Feeds, the QiDao protocol is well-positioned to provide lending benefits to users across all blockchains that have integrated with Chainlink, giving people more utility for their tokens and providing access to decentralized finance for all.
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 QiDAO Protocol/Mai Finance
Mai Finance is a way for you to keep your crypto and still be able to spend its value. That means you’re able to borrow stablecoins without having to sell your crypto assets, and do so at 0% interest
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