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LendeXe Boosts Decentralization With Chainlink Price Feeds

Chainlink’s industry-leading decentralized oracle network secures tens of billions of dollars in smart contract value and has enabled more than $7 trillion in transaction value throughout the DeFi economy. Hundreds of top DeFi projects in the Chainlink ecosystem have integrated Chainlink Price Feeds to power decentralized financial products using Chainlink’s secure and reliable price data.

Recently, web3 ecosystem LendeXe became one of the latest platforms to boost its security and decentralization by integrating Chainlink Price Feeds. The LendeXe ecosystem is built around its unique stablecoin, XSD, which is backed by three leading stablecoins, USDT, USDC, and BUSD. In the event that any of these stablecoins loses its peg to the U.S. dollar, XSD’s Stabilizer mechanism is engineered to automatically swap the depegged stablecoin for the others.

“For example, if USDC depegs, the Stabilizer will swap all USDC tokens for USDT and BUSD based on their predefined weights, and vice versa if BUSD depegs,” LendeXe’s team told Chainlink Today. “The integration with Chainlink and Uniswap V3 allows for these swaps to be done quickly and efficiently. The Stabilizer also takes into account Ethereum gas fees when making these swaps.”

Chainlink’s oracle infrastructure will also play a fundamental role in expanding LendeXe’s DeFi ecosystem by helping to power essential functions such as accurately calculating borrowing limits and liquidation thresholds.

“The most exciting aspect of LendeXe’s integration with Chainlink Price Feeds is the added level of decentralization it brings to our platform,” said LendeXe’s team. “With reliable and transparent price data from Chainlink, our users can be confident that they are getting accurate valuations of their assets.”

The LendeXe team said they’re looking forward to watching Chainlink oracles enable new use cases in both LendeXe’s ecosystem and the entire DeFi space. 

“We are absolutely thrilled to join Chainlink’s ecosystem, which developed into one of the largest ecosystems in web3,” they said. “This is a big step forward for the DeFi space as a whole, as it shows that decentralized finance can truly compete with centralized finance in terms of data quality.”

To learn more about LendeXe, read their whitepaper and visit their website, Twitter, and Telegram.

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