Acumen is integrating Chainlink Price Feeds, to help use decentralized finance to power Microfinance Globally.

Acumen is a Solana-based DeFi Protocol, whose mission is to make the global financial system more equitable by using DeFi technology to democratize access to capital by powering microfinance globally. That’s why Acumen is excited to announce that it is integrating Chainlink’s industry-leading decentralized oracle network on Solana. With Chainlink Price Feeds, Acumen’s lending and borrowing protocol will have the high-quality market data it needs to accurately determine loan collateralization and liquidate underwater loans.

The Acumen Stable Dapp creates a mutually beneficial ecosystem for all parties. By bridging crypto and traditional assets, users can tap into a stable, uncorrelated interest rate product while also having a positive social impact. Users can use DeFi to earn a stable uncorrelated yield and use a portion of their deposits as collateral; small and medium-sized enterprises (SMEs) receive cheaper access to capital, which will trickle down, resulting in more affordable rates for consumers. By providing cheaper access to capital for SMEs, the Acumen protocol can help unlock economic freedom for millions globally!

SMEs are the world’s growth engine: there are over 400 million SMEs globally, making up ~95% of the world’s companies and around 60% of all workers. More than 50% of emerging markets borrow from informal sources, at rates many times over 100% APY. By participating in the Acumen protocol, users can give SMEs cheaper access to capital while earning stable uncorrelated interest to help build a more equitable world for all.

Exploring Acumen’s Integration of Chainlink Price Feeds

Chainlink will be the backbone of the Acumen ecosystem and will power the lending protocol and the Stable Dapp. Chainlink Price Feeds will provide the Acumen ecosystem with transparent, high-quality market data with a performance history our users can verify in real-time. Acumen’s lending protocol will use this price data to verify users’ loan collateralization ratios and liquidate underwater loans according to globally accurate fair-market rates.

They selected Chainlink because it stood out to us as the most time-tested oracle solution in the industry, with multiple unique features, including:

• High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that’s aggregated from hundreds of exchanges, weighted by volume, and cleaned from outliers and suspicious volumes. Chainlink’s data aggregation model generates more precise global market prices that are resistant to API downtime, flash crash outliers, and data manipulation attacks like flash loans.
• Secure Node Operators — Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.
• Decentralized Network — Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.
• Transparency — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.

Commenting on the integration, the founder of Acumen Network stated, “Chainlink oracles will significantly enhance the capabilities of Acumen and allow us to proceed with the utmost transparency and security. We look forward to integrating Chainlink and making finance more inclusive for people worldwide!”

About Acumen

Acumen harnesses DeFi to power microfinance globally. Built natively on Solana Acumen is a pioneer in using DeFi to address financial inclusion.

Website |Twitter| Telegram |Discord |Docs |

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 and 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.

Website |Twitter| Docs |

⏩ SOURCE