Flurry Finance is excited to announce that we will be integrating Chainlink Keepers on Ethereum to automate daily rebases of rhoTokens in a decentralized and highly reliable manner. Chainlink Keepers use secure, low-cost off-chain computation to determine when conditions are met for rebases and then trigger them on-chain in a timely manner when satisfied.
We decided to use Chainlink Keepers to trigger our rebasing function because it’s a decentralized network operated by the same professional DevOps teams that secure tens of billions of dollars through Chainlink Price Feeds. This provides our users with strong uptime guarantees that yield will be distributed on-time at daily intervals.Understanding Flurry Finance
Flurry Finance is a novel yield aggregation platform that abstracts away the complexities of yield farming. Users can deposit their USDT, USDC, or BUSD into Flurry Finance to mint corresponding synthetic versions of these tokens known as rhoTokens. For instance, a user can deposit 100 USDC to mint 100 rhoUSDC — each rhoToken is backed 1:1 with its corresponding stablecoin. Flurry Finance then combines users’ assets into pools and automatically deposits and manages them between decentralized protocols to earn users the highest yield.
By using Flurry Finance instead of yield farming individually, users enjoy the following benefits:Decreased Transaction Costs — The average gas cost per user is significantly lower since users’ tokens are batched together in a single transaction. Risk Diversification — Flurry Finance deposits into multiple decentralized protocols to spread around risk, a strategy not cost-effective for individual users. Easy UI — Flurry Finance provides a simple UI to give users a clear picture of their investments, simplifying the process of tracking positions and interest across multiple protocols.
One of the major differences that sets Flurry Finance apart from other yield aggregators is that rhoTokens ...