Decentralized finance (DeFi) is in growing demand because it gives users superior transparency, control and yield. While traditional financial products typically offer users less than 1% yield, DeFi protocols like Aave offer users up to 10% APR on the same dollar equivalent. DeFi’s yield is so substantial that it’s transforming the way people leverage their digital assets.
Idle Finance is a decentralized rebalancing protocol that makes DeFi yields easy to manage by allowing users to automatically and algorithmically allocate their digital assets among different third-party DeFi protocols. Last week, Idle Finance announced its integration of Chainlink Price Feeds on Ethereum mainnet to expand use cases and functionalities for its native token and create new opportunities for users to maximize their interest rate returns.
Idle Finance’s Treasury League Project Manager, Salomé Bernhart, told Chainlink Today that the integration delivers DeFi’s promise to fundamentally rewrite the relationship between people and the traditional mode of saving.
“DeFi is programmable money; it does what money that used to sit still always wanted to do,” she said. “We want to democratize the access to DeFi instruments through institutional-grade experiences and developer-friendly infrastructure, providing investors and builders with the tools they need to create easy and accessible yield-generating experiences for their funds and users.”
Bernhart said the Idle Finance team is focused on continually providing and improving infrastructure that makes optimizing yield “effortless” for each user. “Over the past three years, Idle has rolled out the features and services that now define a new category we call ‘automated yield services.’”
She said Chainlink will bring a solid infrastructure for Idle’s yield automation to work properly and continue providing an optimized and secure experience for its users and integrators. “Chainlink is essentially an industry standard for DeFi and Idle is proud to be part of its ecosystem.”