It is providing users with stronger assurances that collateralization ratios, liquidations, and fees are calculated using accurate price data.

However, Chainlink already helps secure 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.

Therefore, Angle Protocol aims to create a sustainable money layer for blockchains. We are currently issuing agEUR, a Euro-based stablecoin. Their borrowing module helps expand the protocol as it creates another minting mechanism for Angle stablecoins. Specifically, the borrowing function uses a debt-based mechanism similar to the model used by MakerDAO to mint DAI. Users can simply deposit ETH, wBTC, or other collateral onto the platform. Also, can borrow agEUR in a cheap and capital-efficient manner.

In the future, they also plan to integrate Chainlink Keepers. The goal is to help automate their smart contracts in a highly secure, reliable, and decentralized manner.

“We’re excited to integrate Chainlink Price Feeds into our stablecoin protocol. Price Feeds provide the highest-quality data in the industry and are critical to helping secure borrowing on our protocol.” — Pablo Veyrat, Co-founder of Angle Protocol.

About Chainlink

Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Also, 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.

Webiste | Twitter

About Angle Protocol

Angle is an over-collateralized, decentralized and capital-efficient stablecoin protocol.

It has launched agEUR, the biggest decentralized Euro stablecoin in the market on Ethereum mainnet.

Website | Twitter

SOURCE:

https://blog.angle.money/angle-protocol-integrates-chainlink-price-feeds-to-help-secure-borrowing-on-its-240caed4f73b

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