Acumen, a Solana-based DeFi protocol aimed to equate the global finance framework will integrate Chainliink Price Feeds. The protocol is using DeFi to democratize capital access by empowering microfinance worldwide.
Chainlink Price Feeds will allow Acumen to boost its borrowing and lending protocol with precise market data. In addition, it will facilitate accurate loan liquidation, collateralization, and determination on the platform.
Acumen’s Stable dApp builds a mutually beneficial framework for every party. By joining traditional and crypto assets, users can enter a stable and uncorrelated interest rate product. Moreover, the products facilitate a positive social impact for users.
Any Acumen user can deposit a portion of their deposits as collateral to earn rewards on the platform. These include cheaper capital access for SMEs, allowing them to gain financial freedom.
With SMEs accounting for almost 95% of the world’s companies, their importance in the market is obvious. That is why Acumen is targeting the niche while presenting a cheaply accessible DeFi ecosystem for everyone.
How Integrating Chainlink Price Feeds will Help?
Chainlink will act as the base for the Acumen framework, powring the Stable dApp and the lending protocol alike. It will render benefits, like:
Highly precise data collected from multiple data aggregators
Node operators secured by Sybil-resistant, independent blockchain DevOps teams
A decentralized network at the oracle network, oracle node, and data source levels
A transparent framework with on-chain overview tols for independent verification
Acumen Network’s Founder, Jacqueline Novogratz, talked about the recent development. According to Jacqueline, Chainlink oracles have helped numerous projects in the past. Acumen Network expects similar security and transparency from the integration. The entire Acumen team looks forward to using Chainlink Price Feeds for making finance simpler for trader everywhere.