Idle x Chainlink Price Feeds Integration
Idle now sponsors Chainlink Price Feeds on Ethereum mainnet to secure new use cases for $IDLE.
Since the Governance launch, Idle has integrated Chainlink’s industry-leading decentralized oracle network. The integration allowed Idle to access high-quality, tamper-proof price feeds to distribute $IDLE liquidity mining across our current strategies (Best-Yield & Risk-Adjusted) and our newest tranches product.
The $IDLE Liquidity Mining program’s distribution, planned for 2 years, calculates the performance fees generated by each pool (idleDAI, idleUSDC, …) and shares tokens with LPs proportionally to protocol revenues on a block basis. As Idle continues to add more asset strategies and become a fundamental building block in the DeFi ecosystem, we can safely rely on Chainlink to include future pools in this incentivization initiative.
This sponsorship also sets the ground for $IDLE feeds deployment, built with the oracle industry leader. Chainlink already helps leading DeFi protocols responsible for tens of billions of dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.
About Idle
Idle is a decentralized protocol dedicated to bringing automatic asset allocation and aggregation to the interest-bearing tokens economy. This protocol bundles crypto-assets (ETH, WBTC, and stablecoins) into tokenized baskets that are programmed to automatically rebalance funds according to different management strategies.
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.
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