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Neutrino sponsors Chainlink Price Feed to support USDN adoption across DeFi

Neutrino sponsors Chainlink Price Feed to support USDN adoption across DeFi

We’re excited to announce that Neutrino has sponsored a new Chainlink Price Feed for USDN/USD on the Ethereum mainnet.

Chainlink Price Feeds supply high-quality data with flash loan protection, enabling Ethereum-based money markets to leverage the USDN/USD Price Feed and easily offer support for USDN, an algorithmic stablecoin pegged to USD and backed by WAVES tokens.

Additionally, decentralized insurance providers can offer coverage based on unexpected scenarios, such as USDN breaking its peg, which further improves its reliability within DeFi markets.

We selected Chainlink because of its industry record of supplying high-quality on-chain price reference data for leading DeFi projects, including Aave and Synthetix.

Chainlink Price Feeds also offer broad market coverage, spanning all centralized and decentralized exchanges and making their price data immune to manipulation or downtime on any single or small set of exchanges.

To broaden the usage of USDN, we need a secure and reliable price oracle. That would ensure that USDN is properly priced within various DeFi protocols, including money markets, synthetic assets and insurance coverage solutions.

Based on Chainlink’s track record across many blockchains, a decision about sponsoring a Chainlink Price Feed was made.

Some other notable features of Chainlink Price Feeds include:

High-quality data — Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data aggregated from hundreds of exchanges, weighted by volume and cleaned from outliers and wash trading. Chainlink’s data aggregation model generates accurate global market prices that are resistant to API downtime, flash crash outliers and data manipulation attacks like flash loans. Secure node operators — Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant o...
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