We’re excited to announce that Growth DeFi has integrated Chainlink Price Feeds on the Binance Smart Chain mainnet for our collateralized stablecoin lending protocol: MOR. By integrating Chainlink’s industry-leading decentralized oracle network, the MOR protocol has access to high-quality, tamper-proof price feeds needed to ensure correct pricing of collateral assets and accurate processing of liquidations and lending ratios. This will provide our users with strong assurances that when depositing collateral on MOR they are receiving accurate price data and appropriate borrowed funds.
We chose Chainlink as our go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. Chainlink already secures leading DeFi protocols responsible for 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. For a protocol with the complexity of MOR, it makes sense to entrust an oracle solution with time-tested reliability across the DeFi landscape.
MOR is a leap forward in innovation for stablecoin borrowing, as it enables users to earn yield on their collateral while borrowing. This is achieved by allowing users to deposit yield-earning tokens as collateral, and enables leveraged yield-farming positions to be achieved by exchanging borrowed MOR for more collateral and repeating the borrowing process.
In order to secure correct price data for borrowers and to appropriately assess liquidation levels, 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, so we needed to make use of an or...