SCREAM Integrates Chainlink Price Feeds to Help Secure Decentralized Money Markets on Fantom
SCREAM, the leading lending protocol on Fantom, is pleased to announce that Chainlink Price Feeds are now the primary price oracle solution used to determine users’ borrowing rates and calculate users’ collateralization ratios. The initial integration includes the following Chainlink Price Feeds: FTM/USD, USDC/USD, FUSDT/USD, DAI/USD, ETH/USD, BTC/USD, with plans to add more Chainlink Price Feeds as new lending markets are launched.
Already helping secure tens of billions of dollars in value across DeFi, Chainlink is now providing SCREAM decentralized money markets with precise, reliable, and low latency price updates at the native speed and cost of Fantom. Chainlink Price Feeds not only strengthen the accuracy and robustness of SCREAM’s lending protocol, but they have a proven track record of delivering reliable price updates on-chain despite unexpected externalities like flash crash outliers, exchange downtime, and data manipulation attacks (e.g., flash loans).
SCREAM is the largest decentralized lending market on Fantom, providing peer-to-peer lending solutions that are fully decentralized, transparent, and non-custodial. SCREAM aims to build high-velocity markets for more traditional crypto-asset lending services, but with the goal of improving overall capital efficiency across a wider range of Fantom-based assets.
SCREAM is looking to collaborate with the most proven blockchain services across the industry, especially seeking opportunities to integrate with other Fantom-based DeFi projects. It is our pleasure to integrate Chainlink’s industry-leading network of decentralized price oracles to leverage high-quality pricing data when calculating the current volume-adjusted market prices of assets.
Some of the major benefits of using Chainlink Price Feeds in SCREAM include:
- High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that’s aggregated from hundreds of exchanges, weighted by volume, and cleaned from outliers and wash trading. Chainlink’s data aggregation model generates more accurate global market prices that are resistant to inaccuracies of any single or small set of exchanges.
- Secure Node Operators — Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.
- Decentralized Network — Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.
- Reputation — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical performance of node operators and oracle networks and check the real-time prices being offered.
“It’s vital that SCREAM have a reliable oracle solution to help ensure that users receive fair market loans and lenders remain solvent throughout volatile market conditions.” said the SCREAM Team. “We will plan to continue leveraging the high-quality data and robust oracle infrastructure of Chainlink to grow the lending/borrowing markets available to DeFi users throughout the Fantom ecosystem.”
Chainlink is the industry standard oracle network for powering hybrid smart contracts. Chainlink Decentralized Oracle Networks provide developers with the largest collection of high-quality data sources and secure off-chain computations to expand the capabilities of smart contracts on any blockchain. Managed by a global, decentralized community, Chainlink currently secures billions of dollars in value for smart contracts across decentralized finance (DeFi), insurance, gaming, and other major industries.
Chainlink is trusted by hundreds of organizations, from global enterprises to projects at the forefront of the blockchain economy, to deliver definitive truth via secure, reliable oracle networks. To learn more about Chainlink, visit chain.link and subscribe to the Chainlink newsletter. To understand the full vision of the Chainlink Network, read the Chainlink 2.0 whitepaper. Want to discuss an integration? Talk to an expert.
SCREAM is the largest peer-to-peer lending platform that is native to Fantom. Fantom users can generate the most competitive yields by supplying and borrowing assets on our platform. With SCREAM’s partnerships, SCREAM aims to facilitate the briding of the most innovative stablecoin markets to Fantom. SCREAM presently supports 7 major markets, including the recently added, fUSD (Fantom’s native stablecoin), allowing each asset to be used as collateral across its range of Money Markets.
As the Fantom network grows, so does the importance of SCREAM’s robust lending and borrowing solutions. To learn more visit SCREAM and subscribe to our newsletter and follow us on Twitter at @Screamdotsh.