Equilibrium To Use Chainlink Price Oracles To Power Stablecoins

Equilibrium is excited to announce an upcoming Chainlink Price Feed integration to power stablecoins, lending, and synthetic assets on our cross-chain money market on Polkadot. Chainlink Price Feeds will provide our smart contracts with accurate asset valuations to properly issue loans, price collateral, and execute trades of synthetic assets, all in a completely decentralized manner.

Chainlink has become the most widely-used oracle in DeFi, collectively securing over $4B in USD value for many leading DeFi projects. We selected Chainlink as our go-to provider for price oracles not only because it’s a proven time-tested solution, but because it has several technological features not found in other oracle solutions, including:

• High-Quality Data: All price data is sourced from numerous premium off-chain data aggregators, providing us with extensive market coverage across all trading environments to ensure we’re protected against low-volume data manipulation attacks.
• Decentralized Oracle Network: Each Price Feed is secured by a decentralized network of independent, security reviewed oracle node operators run by experienced blockchain and DevOps teams, ensuring us strong resistance to downtime, Sybil attacks, and single oracle manipulation.
• Price Transparency: Chainlink Price Feeds are accompanied by visualizations tracking the real-time performance of the oracle network and its individual nodes, increasing our platform transparency in a manner that any user can independently audit on-chain.

“We look forward to providing Equilibrium with a robust set of price oracles that provide real-time valuations on assets used within its DeFi platform,” said Daniel Kochis, Head of Chainlink Business Development. “Chainlink’s high quality data and decentralized oracle infrastructure ensures that all price feeds are highly accurate, available, and resistant to manipulation, empowering users with trustless interactions with Equilibrium’s DeFi protocols.”