Interest Protocol partners with Chainlink BUILD

Interest Protocol published an official blog post to share the news with the community that it has partnered with Chainlink BUILD to boost its adoption on Ethereum. Chainlink will offer enhanced support to the protocol, including access to its oracle solutions. Interest Protocol, in return, will offer benefits like network fees to the ecosystem of Chainlink.

The recent partnership follows the previous strategic partnership established with Chainlink Labs. Interest Protocol is now exploring the possibilities of integrating Automation and Chainlink Proof of Reserve.

In general, Chainlink BUILD will provide community support and technical assistance to help the protocol realize its vision of enhancing capital efficiency with increased access to enhanced and transparent crypto lending. There is another benefit that the protocol brings to the table.It allows users to earn interest on their holdings without staking them to the community. USDi holders are eligible to avail of this service. The aim is to generate as many loans as possible while incurring less liquidity risk than other alternatives. The other objective is to empower the users to generate more USDi.

Interest Protocol chose Chainlink BUILD to maximize the benefits of its oracle services out of all the other available options. The collaboration has started paying out the result as well. Interest Protocol registered that it has received enhanced ecosystem integration support, which improves its reliability and security. 

Some more benefits that Interest Protocol has received from Chainlink BUILD are:-

  • Ability to scale its platform
  • Efficiency to conserve engineering resources
  • Access to proven technology

As a part of this collaboration, Interest Protocol will make available 3% of its token supply to Chainlink users and other service providers of Chainlink.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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