Valas Finance Integrates Chainlink Price Feeds. This announcement makes a big blow to #BNBChain community. Valas Finance has now access to high-quality, tamper-proof price feeds, helping determine users’ borrowing rates and calculate their collateralization ratios in which Chainlink offers. Furthermore, they provides borrowers with higher assurances of accurately calculated liquidations, and helps protect lenders against protocol insolvency. Therefore announcing Valas Finance Integrates Chainlink Price Feeds.
They chose Chainlink as their go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. However, Chainlink already helps secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value, considering maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.
Valas Finance launched on BNB Chain in late March of 2022, and has quickly become a top-10 BNB Chain protocol in terms of TVL. Therefore the protocol has seen:
- Integration with the likes of Ellipsis Finance, boosting rewards through their voting pools.
- Introduction of new collateral assets, such as TrueUSD’s UST coin.
- An airdrop for users of Geist and Blizz on their respective networks.
What does Chainlink offers?
- High-Quality Data — Source data from numerous premium data aggregators. Leading to price data aggregated from hundreds of exchanges, weighted by volume, and cleaned of outliers and wash trading.
- Secure Node Operators — Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle node. Run by leading blockchain including DevOps teams, data providers, and traditional enterprises.
- Decentralized Network — The platform are decentralized at the data source, oracle node, and oracle network levels. Also strong protections against downtime and tampering by either the data provider or oracle network.
- Reputation System — Provides a robust reputation framework and set of on-chain monitoring tools. Allowing users to independently verify the historical and real-time performance of node operators and oracle networks.
To begin with, Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Moreover, 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.
Valas Finance is a decentralized, non-custodial liquidity market protocol operating on the BNB Smart Chain.