Geist Finance integra Chainlink Price Feeds | Invezz

Geist Finance, a non-custodial decentralized liquidity protocol, has integrated Chainlink’s price sources (LINK / USD) as its Oracle solution into the Fantom mainnet (FTM / USD), Invezz learned in a press release. The integration will help Geist determine user borrowing rates and calculate their collateral ratios on the platform.

Chainlink provides accurate, reliable and low latency price updates

Chainlink has helped secure more than $ 75 billion in value in DeFi. It equips Geist’s decentralized money markets with reliable, accurate, and low-latency price updates at the native cost and speed of Fantom.

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Chainlink Price Feeds has a proven track record of delivering reliable price updates across the chain in critical situations, as well as strengthening the accuracy and robustness of Geist’s lending protocol.

Geist foresees a token to generate income

Geist Finance depositors provide market liquidity for passive income. Borrowers can obtain loans with either over- or under-collateral. Geist foresees a lack of governance, but it involves a revenue-earning token and permissionless protocol.

The Geist Finance team said:

It is critical that the Geist platform has a trusted Oracle solution to help ensure our users receive fair market loans and that lenders remain solvent during periods of high market volatility. Importantly, Chainlink provides a battle-proven decentralized infrastructure resistant to single points of failure, promoting the security and reliability of the loan / loan markets available to DeFi users across the Fantom ecosystem.

To help secure the Geist protocol, they needed access to new asset prices delivered reliably and directly down the chain. After reviewing various solutions from Oracle, Geist integrated Chainlink’s pricing sources for the following reasons:

Secure node operators – Chainlink’s pricing sources are protected by independent, security-reviewed, and Sybil-resilient Oracle nodes, run by leading blockchain DevOps teams, data providers, and traditional enterprises.

High quality data : Chainlink Price Feeds pulls data from numerous premium data aggregators, leading to aggregated price data from hundreds of exchanges, volume-weighted, and cleaned of outliers and laundering trades.

Reputation system : Chainlink provides a robust reputation framework and suite of on-chain monitoring tools that allow users to independently verify real-time and historical performance of Oracle networks and node operators.

Red Decentralized – Chainlink’s pricing sources are decentralized across the data source, Oracle node, and Oracle network tiers, creating strong protections against downtime and tampering by the data provider or the Oracle network.

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Geist Finance integra Chainlink Price Feeds | Invezz

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