Multifaceted DeFi platform Folks Finance announced its integration of Chainlink Price Feeds and Cross-Chain Interoperability Protocol (CCIP) across the Avalanche, Base, and Ethereum mainnets in order to unlock secure cross-chain lending backed by high-quality, tamper-proof price data.
Chainlink Price Feeds have enabled over $15 trillion in transaction value, proving secure and reliable even during adverse and unexpected events such as flash loan attacks. Leveraging Chainlink’s time-tested oracle infrastructure, CCIP is the industry standard for cross-chain digital asset and data transfer, featuring the highest level of cross-chain security and a separate Risk Management Network that independently monitors for suspicious activity.
Folks’ non-custodial, user-friendly DeFi protocol was conceived to streamline digital asset management with an innovative hub-and-spoke model that abstracts away the complexities of cross-chain transactions. Users can lend, borrow, trade, and deposit assets to earn rewards, as well as leverage deposits as collateral for loans.
Last year, Folks Finance joined the Chainlink Build program to gain enhanced access to essential Chainlink services and interact with other web3 projects in Chainlink’s vast ecosystem. Price Feeds provide Folks with the high-quality, tamper-proof price data needed to support secure markets, while CCIP’s Arbitrary Messaging capabilities enable highly secure cross-chain lending.
“Integrating CCIP was an obvious step to help enable a highly secure cross-chain lending experience for our users,” said Folks Finance CEO Benedetto Biondi in an official announcement. “By leveraging Chainlink’s advanced infrastructure, we are significantly advancing our goal of providing a secure, transparent, and dynamic DeFi experience.”
To learn more about Folks Finance, visit their website, X, Telegram, and Discord.