Tulip Protocol Integrates Chainlink
Tulip Protocol Integrates Chainlink, so users have stronger assurances that leveraged positions will be fairly liquidated using highly accurate price data.
With decentralized market data from the industry-leading decentralized oracle network, users have stronger assurances that leveraged positions will be fairly liquidating. It’s using highly accurate price data and that the protocol will remain fully collateralized at all times.
Tulip Protocol takes advantage of Solana’s high-throughput and low-cost blockchain, enabling users to more frequently reinvest their yield and compound their assets without incurring excessive gas fees. With Chainlink oracles natively integrated on Solana, they can seamlessly access the most widely used oracles in blockchain to help provide users with advanced, secure, and reliable yield aggregation.
Tulip Protocol connects lenders who earn a yield on deposits with borrowers who want to access leverage. Users that open leverage positions must maintain a predetermined loan-to-value (LTV) ratio. They check with asset price data supplied by Chainlink Price Feeds. Accurate LTV ratios are a critical function in smart contracts as they determine when traders get liquidated and help protect lenders’ deposits, making the price oracle solution we use a core piece of infrastructure for our protocol.
About Chainlink
Chainlink is the industry standard for building, accessing, and selling oracle services. Needed to power hybrid smart contracts on any blockchain. Its oracle networks provide smart contracts with a way to reliably connect to any external API. 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 the first yield aggregation platform on Solana with auto-compounding vault strategies. The dApp (decentralized application) is designing to take advantage of Solana’s low cost, high efficiency blockchain; allowing the vault strategies to compound frequently, benefiting yield farms with higher APYs, while no requiring active management, and with lower gas fees. Tulip now offers a wide variety of strategies for its users. Lending, Auto-Compounding LP Vaults, Leveraged Yield Farming, and our newly launched Strategy Vaults.
