ARCx Integrates Chainlink Price Feeds for Rehypothecating DeFi Assets
We’re excited to announce that at ARCx we’re using Chainlink Oracles to help re-hypothecate assets in DeFi. What this means is that assets such as those which earn interest can be used to mint STABLEx and unlock the value of certain assets. This unlocks greater capital efficiencies in DeFi and gives utility to assets which have none otherwise.
Ensuring that accurate and real-time prices are delivered on-chain is critical to ensuring the safety of the ARCx ecosystem. Without this the liquidity, safety and viability of STABLEx diminishes.
By integrating Chainlink oracles we can make sure that the value of these higher-order assets can be actively priced on-chain, in real-time and securely. As of now, ARCx is currently utilising the oracles for:
- xSUSHI (through the SUSHI/ETH oracle)
- ibETH (through the ETH/USD oracle)
- yUSD (through the USDC/ETH, DAI/ETH and USDT/ETH oracle)
- cUSDC (through the USDC/ETH oracle)
Chainlink has established itself as the leading oracle solution in the blockchain industry, already securing over $7B USD in value across leading DeFi projects like Synthetix and Aave. Chainlink oracles enable the development of auto-executing smart contracts based on real-world data and events such as the ETH-USD price feed. This price data is secured by an aggregation of more than twenty independent nodes and numerous premium data sources to guarantee the highest reliability and security of the ETH market price reported on-chain.
ARCx will become a governance-minimised central bank that issues credit against assets in their various forms in DeFi through its native stablecoin, STABLEx. As yield becomes a core theme moving forward, the permutations of protocols x assets will explode. ARCx plans to support all of these assets to increase capital efficiency and unlock the value in assets lying idle in users’ wallets.
Chainlink is the most widely used and secure way to power universally connected smart contracts. With Chainlink, developers can connect any blockchain with high-quality data sources from other blockchains as well as real-world data. Managed by a global, decentralized community of hundreds of thousands of people, Chainlink is introducing a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance and gaming ecosystems, among others.
Chainlink is trusted by hundreds of organizations to deliver definitive truth via secure, reliable data feeds. To learn more, visit chain.link, subscribe to the Chainlink newsletter, and follow @chainlink on Twitter.