The Chainlink BUILD program fosters promising early-stage startups in Chainlink’s ecosystem. Participants receive benefits including enhanced access to essential Chainlink infrastructure, new product alpha and beta releases, and technical support in exchange for paying fees that incentivize Chainlink service providers, boost the network’s cryptoeconomic security, and advance the web3 industry as a whole.
Today, GSU Protocol, the issuer of ultra-low-volatility stablecoin, GSUCoin (GSUc), announced it joined BUILD to integrate key Chainlink services including Price Feeds for accurate market data, Proof of Reserve (PoR) for verifying collateralization, and Cross-Chain Interoperability Protocol (CCIP) for enabling cross-chain transactions.
As a fork of Maker Protocol, one of the largest and longest-standing DeFi lending protocols, GSU Protocol’s goal is to offer a stablecoin that provides superior price stability for all DeFi users, regardless of their domestic currency. While most stablecoins are pegged to a single fiat currency, GSUc is soft-pegged to the GSU exchange rate, which involves a novel approach using global market-based rates.
Chainlink’s time-tested oracle network has delivered over 11.8 billion data points and enabled more than $10 trillion in transaction value onchain. As the industry-leading decentralized computing platform, Chainlink plays a fundamental role in powering highly secure and performant decentralized protocols, applications, and exchanges that expand DeFi’s utility and global user base.
In an official announcement, GSU Protocol founder Jesper Toft underscored the role Chainlink’s industry-leading oracle services will play in accelerating the adoption of GSUc as an advanced stablecoin that brings superior price stability to DeFi users around the world.
“We’re excited to join Chainlink BUILD to gain access to industry-standard oracle services, helping us to update our protocol with key price data and enable users to transact with GSUc across chains,” he said. “We look forward to continued collaboration between GSU Protocol and Chainlink as we support the next generation of DeFi.”
To learn more about GSU Protocol, visit their website, X, Telegram, Discord, and GitHub.