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Liqwid Labs has facilitated Cardano decentralized finance (DeFi) in its ahead leap with the notable integration of Charli3’s oracle value feeds.
The information first got here when Yevhen Karpenko, the Twitter Ambassador at startup DeFi, shared his pleasure about “The FIRST ORACLE INTEGRATION ON CARDANO!”
The FIRST ORACLE INTEGRATION ON CARDANO!🤯
The day is lastly right here🥳
It is a MAJOR event for the #Cardano ecosystem as an entire, exhibiting that tasks are following the continual push for full decentralization on Cardano.$ADA To The Moon🚀
Detailed Information🧵👇 pic.twitter.com/yCpKeFCAzc
— Yevhen |👾| De.Fi (@yevhen_dedotfi) April 6, 2023
Karpenko underscored that this notable occasion was a present of Cardano’s ongoing dedication to full decentralization on the community. He additionally famous that it was a present of rising curiosity from a number of tasks.
Cardano And The Charli3’s Oracle Value Feeds
In a current weblog publish, Liqwid Labs, the corporate behind the rate of interest protocol referred to as Liqwid, stated that they had efficiently built-in Charli3’s Oracle value feeds.
Liqwid operates as an open-source, algorithmic, and non-custodial rate of interest protocol. On this design, it permits customers to earn curiosity on deposits securely. They will additionally borrow property simply whereas benefitting from the community’s yield streams on ADA. Notably, the mainnet debut occurred earlier in February.
In keeping with Liqwid Labs, integrating Charli3’s oracle value feeds would assist safe collateral and liquidations within the SHEN market. Moreover, they’ve already built-in the SHEN/USD value feed and are already underway with plans to include the ADA/USD Charli3 value feed. This can change into obtainable quickly.
Advantages Of Cardano Liqwid Collaboration
Noteworthy, the usage of Charli3’s decentralized value feeds will allow Liqwid to develop new loans, replace collateral values, and provoke liquidations for under-collateralized loans. These could be completed with extra accuracy and in a safer approach.
The incorporation of Cardano-native oracle supplier Charli3’s value feeds ensures accuracy. Furthermore, it ensures the continuation of value information throughout the Liqwid markets.
The collaboration can even strengthen the combat in opposition to centralized oracle value manipulations from a single trusted supply.
Moreover, the partnership is an important step in Liqwid’s imaginative and prescient of changing into a completely decentralized lending protocol working atop the Cardano blockchain.
Liqwid Desires To Meet The Rising Demand For New Markets
Liqwid Labs is at present creating a number of different value feeds that may assist fulfill the rising demand for brand new markets on Liqwid v1. Accordingly, the community has despatched a name to motion. They’re calling on anybody all in favour of studying extra in regards to the markets proposed for launch on the Liqwid v1 to go to the “New Markets’ part. This may be discovered on the platform’s governance discussion board.
Liqwid is the primary decentralized finance (DeFi) protocol to develop atop the Cardano blockchain and combine with a Cardano-native decentralized oracle protocol. With this, the platform has set the bar excessive for decentralization and safety. On the identical time, the transfer will inspire different protocols throughout the Cardano DeFi ecosystem to do the identical.
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