Cygnus Finance is the first native stablecoin protocol on the Base chain, backed by short-term U.S. Treasury Bills. It allows users to mint interest-bearing stablecoin cgUSD with multi-chain assets and lets users enjoy pure U.S. Treasury interest returns through the rebase mechanism. Cygnus Finance consistently supports a 1:1 redemption ratio of cgUSD to USDC.
Cygnus Finance is a wholly-owned subsidiary project of the ARKS Labs Foundation, aiming to bring risk-free fixed-income opportunities to the on-chain world, enhance the base yield of on-chain stablecoins, and offer on-chain users a fixed-income product with a flexible redemption experience akin to a money market fund. Thanks to the high performance and low transaction costs of the Base chain, ARKS Labs Foundation is planning to build an interest rate swap market around cgUSD.
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. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link
The Chainlink Labs Channel Partner strategy is intended to outline a joint approach between Chainlink Labs and select accelerators, launchpads, incubators, devshops, and software tools to promote the user adoption and growth of the web3 ecosystem. Chainlink Labs and the channel partners will collaborate to accelerate and nurture the web3 ecosystem in key areas including gameFi, NFTs, developers, and startups.
Chainlink Labs is the leading provider of secure and reliable open-source blockchain oracle solutions, enhancing smart contracts by connecting them to a wide range of off-chain data sources and computations, such as asset prices, web APIs, IoT devices, payment systems, and more. We are dedicated to the development and integration of Chainlink as the standard decentralized oracle framework used by smart contracts across any blockchain.
