We’re excited to announce that Aquarius Loan — a DeFi project that offers a range of financial services, including lending, borrowing, trading, and asset bridging which operates as a multi-chain money market, allowing users to access these services across various blockchain networks — has integrated Chainlink Price Feeds on Arbitrum mainnet. By integrating the industry-leading decentralized computing platform, Aquarius Loan has access to high-quality, tamper-proof price feeds needed to accurately determine asset valuations, collateralization ratios, and interest rates within our lending protocol. This integration enhances the security and reliability of our platform, ensuring that our users can borrow and lend with confidence. This will provide our users with stronger assurances that they are interacting with a lending platform that leverages accurate and reliable price data, thereby minimizing the risk of errors or manipulation in critical financial calculations.
Our initial integration involves the use of the following Chainlink Price Feeds: ETH/USD, BTC/USD, GMX/USD, ARB/USD, wstETH/USD and DAI/USD. We chose Chainlink as our preferred oracle solution because its infrastructure is seamless to integrate and time-tested in production. As the most widely adopted price data standard in Web3, Chainlink already helps secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.
Aquarius Loan is a decentralized lending platform built on the Arbitrum Mainnet, offering users a seamless and transparent lending and borrowing experience. Through Aquarius Loan, users can easily access liquidity by depositing their assets as collateral and borrowing funds against them. The platform utilizes smart contracts to automate lending and borrowing processes, eliminating the need for intermediaries and reducing transaction costs. With a wide range of supported assets and competitive interest rates, Aquarius Loan empowers users to unlock the value of their digital assets while retaining ownership and control. By leveraging blockchain technology, Aquarius Loan provides users with enhanced security, privacy, and accessibility, making decentralized finance more inclusive and efficient for everyone.
In order to help secure our assets, Aquarius needs access to fresh and reliable asset prices that are supplied directly on-chain in a highly secure manner. These prices should reflect a full market overview incorporating a range of trading environments. Thus, we needed a best-in-class oracle network to fetch price data off-chain and deliver it on-chain to be consumed by our application.
After reviewing various oracle solutions, we integrated Chainlink Price Feeds because they provide a multitude of critical features such as:
High-Quality Data — Chainlink Price Feeds source data from premium data providers, aggregating data from hundreds of exchanges, weighted by volume, and cleaned of outliers and wash trading. Chainlink’s model generates more precise global market prices that are secured against inaccuracies or manipulation by bad actors.
Secure Node Operators — Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, telecom providers, and traditional enterprises. Chainlink nodes have a strong track record of reliability, even during high gas prices and infrastructure outages.
Decentralized Network — Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider, oracle network, or any other party.
Verifiable System — Chainlink provides a robust verifiability framework and set of on-chain monitoring tools that allow users to independently verify the historical and real-time performance of node operators and the oracle networks.
This integration with Chainlink Price Feeds marks a significant milestone for Aquarius Loan, enabling us to provide our users with even greater transparency, security, and reliability across multiple chains. We look forward to leveraging Chainlink’s capabilities further in the future to enhance our platform’s functionality and expand our offerings to users across different chains.
We selected Chainlink because of its proven track record in securing decentralized finance protocols and its ability to deliver high-quality data reliably and securely across multiple chains. This integration brings a new level of trust and integrity to our platform, benefiting both our project and our users.” — David , CEO of Aquarius Loan
About Aquarius Loan:
Aquarius Loan is a decentralized lending platform built on the Arbitrum Mainnet, providing users with access to transparent, secure, and efficient lending and borrowing services across multiple chains. By leveraging blockchain technology and smart contracts, Aquarius Loan aims to revolutionize the traditional lending industry, offering users a seamless and decentralized financial experience.
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