📢 Equilibrium, the first decentralized cross-chain money market built on Polkadot, has announced a partnership with Bluzelle. The project will integrate Bluzelle’s decentralized price feed to power its main DeFi services like lending, borrowing, and trading.
Equilibrium is a one-stop money market that combines pooled lending with the ability to generate synthetic assets and to trade. Polkadot’s cross-chain bridges let users utilize assets from multiple major platforms like Bitcoin, EOS, Ethereum, Binance Chain, and so on.
Equilibrium chose Bluzelle as its oracle solution for these outstanding features:
Fast pricing intervals. The crypto market is volatile and any fluctuation can greatly impact the programmatic interest rate of borrowing and lending on Equilibrium. We want price data to be as accurate and up-to-date as possible. Bluzelle oracles provide real-time prices for crypto assets and refresh this data every several minutes. New and historical values are stored in Bluzelle’s decentralized database, which are ready for grab quickly and won’t be constrained by congestion issues on other blockchains.
High-quality price data. Bluzelle’s oracles aggregate market data from a wide variety of reliable sources, and are operated by a decentralized network of nodes. We use a five-step process that votes in and out data from reputable places and runs statistical analysis on prior price to ensure accuracy and validity, to arrive at a blended value that can be trusted and stored.
Advanced security triggers. Bluzelle Oracles run statistical analyses of data from different sources, as well as against historical values. It generates warnings when a price point appears out of the ordinary, preventing any bad actors from creating a flash loan attack by altering the price feed. This adds an additional safety net for protecting users’ assets on Equilibrium.
“We believe that reliable and diversified price feed is the important part of any DeFi protocol. It is crucial specifically for Equilibrium’s unique on-chain risk management system that is constantly assessing protocol’s solvency and underpins all products built on top of it. Thanks to Bluzelle our price feed becomes more redundant without a need in complex development,” says Alex Melikhov, CEO of Equilibrium.
“The integration of Bluzelle’s high-quality decentralized price feeds will make Equilibrium a more secure avenue for users to lend, borrow and trade crypto assets within its platform. We are thrilled to help Equilibrium accelerate as the leader in cross-chain DeFi,” says Pavel Bains, CEO of Bluzelle.
About Equilibrium
Equilibrium is the first decentralized cross-chain money market that combines pooled lending with synthetic asset generation and trading. Equilibrium is set to open up the vast potential of the DeFi market and become its #1 app by offering exceptional services to the users of major crypto assets that were previously isolated.
Website | Telegram Community | Twitter | Blog |
Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
If you enjoyed what you read here, create your account today and start earning FREE STEEM!