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    Why Decentralized Exchanges Are On Rise? Can INNODEX Surpass Binance and Uniswap?

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    Who Will Reach $1 First In 2023?

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    5 Best New BSC Cryptocurrencies To Invest In 2023

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    Investing Penny Stocks? 5 Crypto Stocks To Watch Now

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    5 Reasons Why Shiba Inu Will Rule The Crypto Market In 2023

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    Top 5 Cryptocurrencies Under $1 that Will Explode in January 2023

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    Chinese New Year And Bitcoin Will There Finally Be Fireworks For The King

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    Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

    Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

    Ethereum Price Key Indicators Point Firming Case For Recovery Above $1,250

    Ethereum Price Holds Ground And Sees Fresh Rally, Bulls Are Not Done Yet

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    XRP Whales Accumulate Massive Tokens

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    Solana Rally Could Gather Pace above $30

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    Why Decentralized Exchanges Are On Rise? Can INNODEX Surpass Binance and Uniswap?

    Why Decentralized Exchanges Are On Rise? Can INNODEX Surpass Binance and Uniswap?

    Best Crypto Exchange Affiliate Programs in 2023

    Best Crypto Exchange Affiliate Programs in 2023

    What does Crypto Index fund Means and How to Invest?

    What does Crypto Index fund Means and How to Invest?

    Who Will Reach $1 First In 2023?

    Who Will Reach $1 First In 2023?

    5 Best New BSC Cryptocurrencies To Invest In 2023

    5 Best New BSC Cryptocurrencies To Invest In 2023

    Investing Penny Stocks? 5 Crypto Stocks To Watch Now

    Investing Penny Stocks? 5 Crypto Stocks To Watch Now

    5 Reasons Why Shiba Inu Will Rule The Crypto Market In 2023

    5 Reasons Why Shiba Inu Will Rule The Crypto Market In 2023

    Top 5 Cryptocurrencies Under $1 that Will Explode in January 2023

    Top 5 Cryptocurrencies Under $1 that Will Explode in January 2023

    Chinese New Year And Bitcoin Will There Finally Be Fireworks For The King

    Chinese New Year And Bitcoin Will There Finally Be Fireworks For The King

  • Analysis
    Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

    Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

    Ethereum Price Key Indicators Point Firming Case For Recovery Above $1,250

    Ethereum Price Holds Ground And Sees Fresh Rally, Bulls Are Not Done Yet

    Bitcoin Price Consolidates In Key Range, What Could Trigger Next Move

    Bitcoin Price Holds Key Support But The Bulls Seem To Be Losing Steam

    Ethereum Price Offers Trade Opportunities After Recent Bullish Breakout

    Ethereum Price Another Rejection Signals Risk of Bearish Reaction

    Polygon (MATIC) Surges Nearly 10% As zkEVM Network Update Draws Near

    Polygon (MATIC) Surges Nearly 10% As zkEVM Network Update Draws Near

    Rallies 10%, Polygon Bulls Aim Big

    Rallies 10%, Polygon Bulls Aim Big

    XRP Whales Accumulate Massive Tokens

    XRP Whales Accumulate Massive Tokens

    Solana Rally Could Gather Pace above $30

    Solana Rally Could Gather Pace above $30

    BNB Price Rebounds Toward $250 But Risk of Drop To $200 Still Exists

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Avalanche DEX Trader Joe turns to Chainlink for new lending platform ‘Banker Joe’

2021-10-23
in DeFi
0
Avalanche DEX Trader Joe turns to Chainlink for new lending platform ‘Banker Joe’
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Deposit and Earn Up to $3000 Bonus

Avalanche DEX Dealer Joe at the moment introduced the launch of Banker Joe, new lending and borrowing platform powered by Chainlink worth feeds.

Chainlink is the trade commonplace for constructing, accessing, and promoting oracle providers wanted to energy hybrid good contracts on any blockchain. Chainlink oracle networks present good contracts with a solution to reliably connect with any exterior API and leverage safe off-chain computations for enabling feature-rich functions.

After at the moment’s integration, customers can leverage Banker Joe to earn curiosity on their belongings by loaning them to others by way of non-custodial swimming pools, or by depositing their very own belongings as collateral to borrow extra belongings.

Banker Joe references Chainlink decentralized worth oracles to find out a consumer’s borrowing capability throughout mortgage issuance and test loans for under-collateralization throughout liquidations.

Dealer Joe’s preliminary integration helps a number of Chainlink Value Feeds: AVAX/USD, ETH/USD, WBTC/USD, LINK/USD, USDT/USD, USDC/USD, and DAI/USD. Importantly, our integration with Chainlink can simply increase Value Feed assist for extra belongings sooner or later.

Why did Dealer Joe select Chainlink?

Dealer Joe mentioned it built-in Chainlink because it was essentially the most dependable decentralized oracle community within the blockchain trade, one which already helps safe tens of billions of {dollars} for main DeFi functions throughout numerous blockchains.

“Chainlink Value Feeds have confirmed over an in depth time frame to offer high-quality knowledge and strong infrastructure, persistently updating precisely and securely in periods of maximum market volatility and community congestion,” Dealer Joe builders mentioned in a launch, including that Banker Joe is an important part of the general imaginative and prescient to show Dealer Joe right into a one-stop buying and selling platform on Avalanche.

Customers can deposit collateral and borrow belongings from Banker Joe to successfully make lengthy or brief positions. Nonetheless, borrowing doesn’t come with out threat, as customers might be liquidated when their well being ratio falls under the 65% collateral issue.

A number of the notable optimizations of Chainlink Value Feeds embody:

  • Excessive-High quality Knowledge — Chainlink Value Feeds supply knowledge from quite a few premium knowledge aggregators, main to cost knowledge which are aggregated from a whole bunch of exchanges, weighted by quantity, and cleaned from outliers and suspicious volumes.
  • Safe Node Operators — Chainlink Value Feeds are secured by unbiased, Sybil-resistant oracle nodes run by main blockchain DevOps groups and conventional enterprises with a robust observe report for reliability.
  • Decentralized Community — Chainlink Value Feeds are decentralized on the knowledge supply, oracle node, and oracle community ranges, producing robust protections in opposition to downtime and tampering by both the info supplier or the oracle community.
  • Transparency — Chainlink supplies a strong popularity framework and set of on-chain monitoring instruments that permit customers to independently confirm the historic efficiency of node operators and oracle networks, in addition to test the real-time costs being provided.
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