xToken x Chainlink Keepers Integration
xToken announced an expansion in Chainlink oracle services powering the xToken platform, helping to enhance security, expand the list of set-and-forget DeFi products available to users and decentralize management of core contracts.
The newest integration, which was launched on mainnet in less than 48 hours, involves using Chainlink Keepers to trigger the automatic release of XTK incentives on the xToken Management staking module. This eliminates the need for manual management of staking incentives. Additionally, they plan to further integration of Chainlink Price Feeds to calculate the value of assets used as collateral or loans within our upcoming xToken Lending offering.
They chose to integrate Chainlink because it is the industry standard for decentralized oracle solutions, already helping secure tens of billions of dollars in value for hundreds of projects across multiple blockchains. Operated by historically reliable node operators, Chainlink decentralized oracle networks have proven to be highly resilient in the face of market volatility and network congestion, making it an ideal solution for high uptime, tamper-resistance, and correctness of xToken products.
About Chainlink
Chainlink is the industry standard oracle network for powering hybrid smart contracts. Chainlink Decentralized Oracle Networks provide developers with the largest collection of high-quality data sources and secure off-chain computations to expand the capabilities of smart contracts on any blockchain. Managed by a global, decentralized community, Chainlink currently secures billions of dollars in value for smart contracts across decentralized finance (DeFi), insurance, gaming, and other major industries.
About xToken
xToken is a DeFi protocol that wraps complicated staking and liquidity strategies into convenient and composable set-and-forget ERC20 tokens. xTokens are free-floating ERC20s that can be sent from wallet to wallet, added to liquidity pools and pledged as collateral for loans. They save users time and money, and they distill intricate token mechanics into simple buy-and-hold strategies while providing an opinionated governance option for users.
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