Interest-Free Borrowing Has Arrived in DeFi
QiDao Integrates Chainlink Price Feeds
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. Thanks to this integration, all of our vaults on Avalanche, Fantom, Harmony, Moonriver, and Polygon — ranging from our first vault to our most recently added ones — reference hyper-reliable pricing data provided by Chainlink Price Feeds.
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. In fact, Chainlink Price Feeds already help secure 75B+ for leading dApps.
QiDao Has a Travel Buddy
As Web 3.0 expands and grows, we anticipate a future that spans across several chains seamlessly. To be ready for this new frontier, QiDao aspires to provide interest-free borrowing across many chains. That said, the safety of our protocol and user funds is our top priority. As such, when looking at deploying on a new chain the first thing we look for is whether it is integrated with Chainlink. On blockchains such as Harmony and Moonriver, QiDao was among the first protocols to integrate Chainlink oracles. QiDao has now launched interest-free borrowing on five chains, including Avalanche, Fantom, Harmony, Moonriver, and Polygon, with many more to come as Chainlink continues to expand into the cross-chain realm.
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.
Start borrowing against your tokens on your favorite chain at mai.finance.
“We are thrilled that our interest-free lending protocol now features strong security assurances for price data thanks to Chainlink’s high-quality market data,” stated QiDao Core Team member Kila. “We look forward to integrating more Chainlink Price Feeds as we further expand into the multichain DeFi ecosystem.”
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.
Learn more about Chainlink by visiting chain.link or read the documentation at docs.chain.link. To discuss an integration, reach out to an expert.
QiDao Links
Learn more about QiDao and how to borrow interest free against your crypto at docs.mai.finance or visit the website at mai.finance.
