Stabilize integrates Chainlink
Stabilize is excited to announce that we have completed an integration with market-leading oracle network Chainlink live on mainnet to determine STBZ yield distributions to depositors based on the price movements of various stablecoins, wrapped assets, and seigniorage tokens. The integration involves the use of the Chainlink Price Feed oracles to obtain secure and reliable price data on-chain for the following assets: ETH, sUSD, USDC, USDT, and DAI.
The Stabilize Protocol is a decentralized finance application designed to help keep stablecoins and BTC proxy token prices stable by rewarding depositors with STBZ tokens and by using active strategies to balance coin demand. Users have the option to swap pools manually to achieve a higher rate of reward or deposit into the active automated strategies that swap tokens on their behalf.
Chainlink is a decentralized oracle network that currently secures over $6 Billion in value across leading blockchain applications, including DeFi protocols like Aave, Synthetix, and now Stabilize. Unlike other oracle options, Chainlink oracles provide manipulation-resistant price feeds, with many levels of data and oracle aggregation to protect Stabilize from flash loan attacks, flash crashes, and any type of downtime or malicious activity from any single node or off-chain data source.
These networks are secured by numerous independent, security-reviewed, and experienced blockchain DevOps teams, which serve to prevent Sybil attacks. Additionally, each Price Feed is accompanied by transparent visualizations based on on-chain activity, which anyone can monitor to audit the performance of individual nodes and the oracle network as a whole.
The Chainlink integration empowers the Stabilize team to continually invent new ways to take advantage of the DeFi market, without having to worry about oracles and price feed manipulation. In addition, the team can take advantage of tools created from other Chainlink technical integrations (such as Graph) to create strategies that can take into account market slippage on-demand before executing certain strategies.
As the real world gets more incorporated into the blockchain world, there will be even greater opportunities that will present themselves. The Stabilize team will explore additional opportunities to leverage the wide range of datasets and oracle functions of the Chainlink Network in order to easily and quickly support new assets and strategies on Stabilize.
Learn more about Stabilize
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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.