In a significant development for the DeFi lending protocol, Minterest will integrate Chainlink price oracles, helping to secure the value of its money market economy and providing users with increased risk management metrics
[Tallinn, Estonia] Minterest, value-capturing lending and borrowing protocol designed to make DeFi fairer for users, has announced an integration of Chainlink, the most widely used and secure decentralized oracle network.
The collaboration will see Minterest integrate Chainlink price oracles into the Minterest protocol, allowing Minterest to harness data from high-quality sources and helping secure the full value of the protocol. As the industry standard for secure oracle solutions, Chainlink provides tamper-proof inputs, outputs, and computations to support advanced smart contracts on any blockchain. As such, Chainlink oracles will be key contributors to the success and health of the Minterest protocol.
High-quality price data from Chainlink price oracles will be a game-changer for the Minterest Dashboard, which provides users with extensive real-time liquidation risk data and analysis based on their current portfolio and past history. As a result, users will have a better understanding of pricing information that determines the underlying health of loans, interest rates, and the platform’s auto-liquidation engine, giving users the clarity they need to assess their risk profiles and make more informed decisions.
Josh Rogers, CEO and Founder of Minterest, said, “Transparency and usability are at the core of everything we do at Minterest, making this a critical development for the protocol. As the industry-leading oracle solution, Chainlink secures some of the most credible DeFi platforms and stablecoins in the industry.
“The Minterest protocol is designed and built to serve the interests of its users, and we’re committed to equipping people with the right tools and information. With a truly admirable track record, we are proud to bring industry-leading data from Chainlink price oracles to our protocol.”
Minterest is engineered from the ground up to capture the value it generates through new innovations in technical design and user experience. It’s the world’s first lending protocol capturing 100% of the value from the combination of interest rate, flash loan, and liquidation fees which are then passed on to Minterest users participating in the protocol’s governance. Its unique auto-liquidation process allows the protocol to capture the value typically lost to third-party liquidators, creating the potential for the highest long-term yields in DeFi.
David Post, Managing Director of Corporate Development and Strategy at Chainlink Labs, said, “Minterest’s project aims to create a fairer, more inclusive form of DeFi by increasing both security and accessibility for users. We look forward to seeing how the integration of data from Chainlink into the Minterest protocol will help their users make decisions based on sound knowledge and data.”
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