11 Apr 2023
Charli3 & Liqwid Finance giving Cardano its first Oracle Feed Integration
Liqwid Finance becomes the first Cardano project to integrate an oracle feed through its partnership with Charlie3.
Cardano’s expanding ecosystem has recently seen the integration of Charlie3, the first decentralized oracle service on the blockchain. This integration is a significant milestone for Cardano, Liqwid Finance, and Charlie3.
Liqwid Finance
Liqwid Finance is a decentralized protocol that offers interest rate curves for lending and borrowing on Cardano. The integration of Charlie3 allows Liqwid Finance to use the settlement technology provided by Charlie3 to create new loans, update collateral values, and initiate liquidation of undercollateralized loans. Liqwid Finance has confidence in the price data provided by Charlie3 compared to centralized oracles, which are highly susceptible to manipulation.
Charli3
Charlie3 provides a decentralized node network that enables projects to supply secure, accurate, and safe data to their platforms and communities. This data can take many forms, including asset prices, weather data, and gaming results. The decentralized infrastructure provided by Charlie3 is crucial to the decentralized finance (DeFi) ecosystem on the Cardano network. Oracles play a significant role in providing external data to smart contracts, allowing them to execute complex functions and make decisions based on real-world data.
Charlie3’s Oracle price feeds are highly secure and resistant to attacks. They use a decentralized network of nodes to aggregate price data from multiple sources and provide a single reliable price feed, making it more difficult for any node or source to manipulate price data. These Oracle feeds are highly customizable, allowing protocols like Liqwid to select the specific price data source they want to use. They are also scalable, which is essential for supporting the growing demand for DeFi protocols on Cardano.
Liqwid Finance's Step Towards Decentralized Lending on Cardano
By integrating Charlie3’s decentralized price feeds, Liqwid Finance is moving towards a fully decentralized lending protocol on Cardano. As the first protocol to integrate with a Cardano native decentralized oracle protocol, Liqwid Finance aims to set a focus on decentralization and safety for other protocols within the Cardano DeFi ecosystem to follow.
Flagship Thought
The integration of Charlie3 into Liqwid Finance is a significant milestone for the Cardano ecosystem. The integration will help Liqwid Finance create new loans, update collateral values, and initiate liquidations for undercollateralized loans. Charlie3’s decentralized infrastructure and highly secure Oracle price feeds are crucial to the decentralized finance (DeFi) ecosystem on the Cardano network. The integration of Charlie3 by Liqwid Finance is a step towards a fully decentralized lending protocol on Cardano, and it sets a focus on decentralization and safety for other protocols to follow.
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