Vesper Finance, the leading DeFi ecosystem for crypto coins, announced that it has partnered with ChainLink to establish the US dollar price of Total Value Locked (TFL).
In its press release, Vesper said it wants to work with leaders delivering technologies that support the company’s aim building the DeFi ecosystem. It further mentioned that by working with ChainLink, the company entails delivering tangible US dollar-denominated assets in its platform. This is fulfilled by leveraging Chainlink’s decentralized Oracle networks that will help in generating data from multiple sources. The good part is this collected data isn’t accessible to the third party.
Vesper is a DeFi ecosystem for crypto coins. It is in the form of a suite of yield-generating products mainly focusing on ease-to-use optimization. Link recently joined ETH, WBTC, and USDC.
The presence of TVL
Each of the DeFi platform’s calculations in TVL is unique. Therefore, it leads to taking the form of retrieving price data from a single resource. This process results in less accuracy of data about digital asset prices. The exciting part is that the token held within Vesper’s intelligent contracts is on the lines of the chain; the USD value goes off-chain.
Vesper’s ChainLink-powered TVL Deliverables:
- High-Quality Data: The ChainLink Data Feeds are generated from higher volume, hundreds of exchanges, and cleaned wash trading.
- Reliable Nodes: These Data Feeds from ChainLink are highly secured through extensive data collection of independent and Sybil-resistant Oracle nodes operated by the Blockchain DevOps team.
- Decentralized Infrastructure: Every ChainLink Data Feed has a decentralized position at the data provider and Oracle Network. This decentralization eliminates the central points in sourcing and delivering external data.
- Transparency: ChainLink Data Feeds performance is accessible to anyone on a real-time basis using analytical tools like Market Link.
ChainLink is the most secure way to power smart contracts. By using this feed, developers can connect Blockchain having high-quality data sources from other Blockchains. Presently, hundreds of organizations are using ChainLink to deliver secure and reliable data feeds.