Oracle Chainlink services provide tamper-proof data and calculations, supporting applications across multiple blockchains.
+1,600 applications and counting
Chain link and smart contracts are becoming the backbone of world-changing applications.
With over 3 billion data points delivered to over 1,600 blockchain applications, the Oracle Network strives to optimize business processes and disrupt long-standing establishments. Over the past few days, he has integrated an insurance alternative, a Non-fungible token (NFT) club, and a loan protocol.
In this week’s summary:
Fair NFT Mints
Drip Teddy Club has integrated the Chainlink Verifiable Random (VRF) feature to help power a fair NFT mint.
The project will provide a collection of 10,000 unique digital teddies with their own soundtrack, and VRF will help randomly determine NFT traits.
“The Drip Teddy Club needs state-of-the-art infrastructure to truly innovate in the NFT space. Chainlink VRF is now an essential part of our technology stack, helping to make our NFT mint fairer and more transparent,” said the NFT strategist. Fashun Rivers.
The random number generator will provide users with on-chain verifiable proof that the NFT trait selection process is fair and unaltered.
Interest Protocol (IP) announced a collaboration with Chainlink Labs, which includes the integration of Chainlink Keepers and Chainlink Proof of Reserve (PoR).
“We are excited to work with Chainlink to create a more transparent and capital-efficient DeFi ecosystem. Whether it’s high-quality market data, secure smart contract automation, or real-time reserve verification. , oracles are essential financial tools,” said Getty HillFounder of GFX Laboratoriesthe company that builds intellectual property.
- Custodians will be used to monitor loans and trigger liquidations if they are under-secured.
- PoR will verify off-chain safeguards, ensuring users are protected against substandard reserve practices.
Tracking 15K ETH
Nexus Mutual has integrated Chainlink PoR to verify deposits on Maple Finance, an institutional crypto-capital network.
Mutual uses PoR to track and verify its $15,000 ETH deposit in Maven 11’s lending pool on Maple. Credit teams manage lending activities on Maple and assess corporate creditworthiness. As a result, Maven 11 can issue high yield unsecured loans.
By integrating Chainlink Proof of Reserve, we are able to verify our deposits held on Maple Finance in real-time, which helps give our users great confidence in the capital reserves that underpin our protocol,” said Hugh. Karp, founder of Nexus Mutual.
Check out BSC News’ weekly roundup to keep up to date with the latest from the smart contract powerhouse.
Four latest editions:
What is chain link:
Chainlink is the industry standard for creating, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations to enable feature-rich applications. Chainlink currently secures tens of billions of dollars in DeFi, insurance, gaming and other major industries and provides global enterprises and major data providers with a universal gateway to all blockchains.
Where to find Chainlink:
Website | Twitter | Documents | Community
What is the Drip Teddy Club:
Drip Teddy Club wants to provide its community with “unforgettable experiences” by engaging, rewarding and working alongside some of the greatest musical artists, performers, producers, actors, athletes, and more.
Where to find the Drip Teddy Club:
Website | Twitter
What is the protocol of interest:
The Interest Protocol is a borrow/lend protocol that brings a fractional reserve system popularized by banks to DeFi. Instead of posting houses as collateral and borrowing dollars, interest protocol users post wETH, wBTC and UNI as collateral and borrow a stablecoin called USDi. Instead of depositing dollars in a bank and earning next to nothing in interest, IP users deposit USDC into the protocol and receive the lion’s share of fees paid by borrowers.
Where to find the protocol of interest:
Website | Twitter
What is Nexus Mutual:
Nexus Mutual is a decentralized insurance alternative based on Ethereum. Mutual was created to give people a way to protect themselves against the unique risks in on-chain markets. Its members protect more than $252.6 million in productive assets and have paid $8.4 million in claims.
Where to find Nexus Mutual:
Website | Twitter