C.R.E.A.M. Finance Affirms Chainlink as Our Primary Price Oracle Solution
C.R.E.A.M. Finance is pleased to affirm that Chainlink is now the primary price oracle solution used throughout all Cream markets. Already proven to secure billions of dollars in value across DeFi, the Chainlink Network is now providing secure and reliable pricing data on the Ethereum mainnet to C.R.E.A.M. for the following ETH-denominated markets: LINK, COMP, YFI, BUSD, USDT, USDC, UNI and AAVE.
C.R.E.A.M. is committed to working alongside other DeFi blue chips to build the most robust set of infrastructure to support its lending and borrowing markets. Hence, we are pleased to now use Chainlink’s market-leading decentralized network of price oracles to leverage high-quality off-chain pricing data for calculating the current volume-adjusted market prices of assets.
How C.R.E.A.M. and Chainlink Work Together
By leveraging Chainlink, C.R.E.A.M. is able to take advantage of a decentralized network of independent, Sybil resistant oracle networks to obtain market prices for many leading cryptocurrencies. Each Chainlink oracle node sources price data for multiple premium off-chain data aggregators, ensuring that the data source itself reflects a volume adjusted average aggregated from across both CEXs and DEXs. The individual nodes’ responses are then aggregated to formulate a weight-adjusted on-chain price that our smart contracts can reference when making loans or receiving deposits.
Chainlink ensures that C.R.E.A.M. has access to the the most robust and accurate price data in order to maintain a safe and reliable liquidation process, even during outlier events such as flash loans, high gas prices, periods of network congestion, and centralized infrastructure outages like the recent Infura incident.
C.R.E.A.M. is also proud to affirm that LINK holders are able to use their token as collateral on our platform. Check it out and start earning interest on your LINK at https://app.cream.finance/
About C.R.E.A.M. Finance
C.R.E.A.M. Finance is a peer to peer lending and exchange platform on Ethereum and Binance Smart Chain. Users generate yield by supplying and borrowing assets on our platform.
C.R.E.A.M. presently supports over 30 cryptocurrencies as collateral for supplying and borrowing.
Chainlink is the most widely used and secure way to power universal 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.
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