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Bonded Finance Leverages Chainlink Price Feeds to Calculate Collateral and Liquidation Ratios

Don’t we look good together?

We’re excited to announce that Bonded Finance has integrated Chainlink Price Feeds for the mainnet launch of our Primary Lending Facility. By integrating the industry-leading decentralized oracle network, we’ll gain access to the high-quality, tamper-proof price feeds needed to provide accurate and real-time calculations of altcoin collateralization and liquidation ratios for stablecoin loans. Chainlink Price Feeds are available for every altcoin listed on the Primary Lending Facility.

We chose Chainlink as our go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. Chainlink already helps secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.

In order to help secure our price feeds solution, we needed access to fresh asset prices that are supplied directly on-chain in a highly reliable manner. Fair market asset prices should reflect a volume-weighted average from all trading environments. Thus, we needed to make use of an oracle to fetch aggregated price data off-chain and deliver it on-chain to be consumed by our application.

After reviewing various oracle solutions, we integrated Chainlink Price Feeds because they provide a multitude of critical features such as:

High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that’s aggregated from hundreds of exchanges, weighted by volume, and cleaned of outliers and wash trading. Chainlink’s data aggregation model generates more precise global market prices that are inherently resistant to inaccuracies or manipulation of any single or small set of exchanges. Secure Node Operators — Chainlink Price Feeds are secured by independent, security-revi...
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