We’re excited to announce that YIN Finance — a multi-strategy liquidity optimizer for DeFi users — has integrated Chainlink Price Feeds on Ethereum mainnet, and will also integrate Chainlink Price Feeds on Polygon and BSC mainnet. By integrating the industry-leading decentralized oracle network, YIN Finance will have access to high-quality, tamper-proof price feeds that help secure our leveraged liquidity pools and liquidation mechanism.
Initially, YIN Finance will offer the following coin pairs supported by Chainlink Price Feeds: BTC/USD,ETH/USD,USDC/USD,USDT/USD and FEI/USD with many more possibilities in the future. 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.
Chainlink Price Feeds are the quickest way to securely connect your smart contracts to real-time global market prices. YIN Finance, a DeFi optimizer with leveraged liquidity pools (in our Grand Master Module), requires support from an oracle. By integrating Chainlink, we will have direct access to the most trusted and reliable oracle solutions for our platform and users. Using their personal NFT smart vaults, or YANG, users can access Chainlink Price Feeds, which give updated information on the total funds in their YANG vaults, calculated in current USDT prices.
In order to help ensure the accuracy of our leveraged pools and the reliability of our smart contract’s liquidation function, we need 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 need to make use of an o...