Yieldification Integrates With Chainlink
Yieldification integrates Chainlink Price Feeds and Automation to help power Perpetual Futures Trading with built-in NFT utility. By accessing high-quality index and asset price data on-chain and leveraging performant smart contract automation, we’re able to more precisely and reliably calculate liquidations and trigger stop-loss and take-profit orders.
Ultimately, this gives users stronger assurances that the protocol will remain solvent even through volatile market conditions and that orders will execute as expected.
Futures Positions Represented as NFTs
On Yieldification (YDF), futures positions represent as fully tradable and transferrable NFTs. While they don’t expect these positions to be traded or transferred often, the added flexibility of NFTs enables them to provide more functionality to their users around staking, lending, borrowing, and trading.
Securing Perpetual Futures Trading With Chainlink Price Feeds
Since launching, Yieldification enabled over $60M in trading volume across various digital assets and indexes on its platform. To underpin this trading activity, they rely on Chainlink Price Feeds to help trigger liquidations and accurately calculate asset prices for trades.
Expanding Perps With Chainlink Automation
One of the most important aspects of building a futures trading platform that supports leverage is ensuring liquidations and orders are triggered and executed promptly. Chainlink Automation provides a reliable and resilient automation service. Checks and executes logic on-chain, needed to help liquidate or close positions that cross its liquidation threshold, as well as trigger stop-loss and take-profit orders if an asset hits a target price.
“Chainlink services play a key role in helping us unlock secure and reliable NFT utility. By integrating Chainlink Price Feeds and Chainlink Automation, we’re able to calculate and trigger liquidations and execute stop-loss and take-profit orders using the most accurate price data possible.” — Yield Generator, CEO at Yieldification.
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. Leverage secure off-chain computations for enabling feature-rich applications.
ABOUT Yieldification
Yieldification is a DeFi protocol offering brand-new mechanisms and tradable stake NFTs. Across the ecosystem that fuses together to form a unique decentralized project.
