Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Topic started by: RSRS on October 21, 2021, 06:07:23 AM
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Avalanche DEX Trader Joe today announced the launch of Banker Joe, new lending and borrowing platform powered by Chainlink price feeds.
Chainlink is the industry standard for building, 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 for enabling feature-rich applications.
After today’s integration, users can leverage Banker Joe to earn interest on their assets by loaning them to others via non-custodial pools, or by depositing their own assets as collateral to borrow more assets.
Banker Joe references Chainlink decentralized price oracles to determine a user’s borrowing capacity during loan issuance and check loans for under-collateralization during liquidations.
Trader Joe’s initial integration supports multiple Chainlink Price Feeds: AVAX/USD, ETH/USD, WBTC/USD, LINK/USD, USDT/USD, USDC/USD, and DAI/USD. Importantly, our integration with Chainlink can easily expand Price Feed support for more assets in the future.
More Information (https://cryptonews.net/en/news/market/2312533/)