With its first-ever Oracle integration, the Cardano DeFi Ecosystem, Liqwid, advances

With the major integration of Charli3’s oracle pricing feeds, Liqwid Labs has helped Cardano decentralized finance (DeFi) make a significant step forward.

The first announcement was made by Yevhen Karpenko, the Twitter Ambassador for the firm DeFi, who expressed his delight for « The FIRST ORACLE INTEGRATION ON CARDANO! »

Karpenko emphasized that this significant occasion demonstrated Cardano’s continuous dedication to complete decentralization on the network. He said that it demonstrated the increased interest from several projects.

The Charli3’s Oracle Price Feeds and Cardano

The organization that created the Liqwid interest rate protocol recently claimed on their blog that they have merged Charli3’s Oracle pricing feeds effectively.

Liqwid is an algorithmic, non-custodial interest rate protocol that is open-source. Users can collect interest on deposits safely with this design. They can simply borrow assets and profit from the network’s yield streams on ADA at the same time. It should be noted that the mainnet debuted earlier in February.

Integrating Charli3’s oracle pricing feeds would, in the opinion of Liqwid Labs, aid in securing collateral and liquidations in the SHEN market. Additionally, they already have the ADA/USD Charli3 pricing stream incorporated and are working to do the same with the SHEN/USD price feed. This will soon be obtainable.

Advantages Of Cardano Liqwid Partnership

In addition, Liqwid will be able to create new loans, adjust collateral values, and starts liquidations for under-collateralized loans because to the utilization of Charli3’s decentralized pricing feeds. These would be carried out more safely and accurately.

Accuracy is ensured by using price inputs from Charli3, a native Cardano oracle provider. Additionally, it ensures that pricing information will continue to be available on the Liqwid marketplaces.

The teamwork will make it easier to combat pricing manipulations from a single trustworthy source that are centralized and oracle-based.

Liqwid’s goal of developing a completely decentralized lending system that runs on the Cardano blockchain is advanced by the agreement.

Liqwid seeks to satisfy the rising need for new markets

In order to meet the rising demand for more markets on Liqwid v1, Liqwid Labs is actively creating a number of different pricing feeds. In light of this, the network has issued a call to action. Anyone who is interested in knowing more about the markets that are being considered for launch on Liqwid v1 is urged to visit the « New Markets » section. The platform’s governance forum has information on this.

The first decentralized finance (DeFi) protocol to emerge on the Cardano blockchain and interact with a native decentralized oracle system is called Liqwid. With this, the platform has raised the bar for security and decentralization. The action will also encourage other protocols in the Cardano DeFi ecosystem to follow suit.

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