As the DeFi industry’s leading decentralized oracle network, Chainlink secures tens of billions of dollars in smart contract value and has enabled more than $7.9 trillion in transaction value throughout the smart contract economy.
Last week, leveraged DeFi strategies protocol Stella joined hundreds of DeFi projects in the Chainlink ecosystem by integrating Chainlink Price Feeds on Arbitrum mainnet to enhance the protocol’s security, reliability, and utility.
“By leveraging Chainlink’s decentralized oracle network to obtain up-to-date and precise asset prices, lenders on Stella can make informed decisions with greater accuracy,” Stella’s team told Chainlink Today.
Stella was created with the goal of strengthening leveraged DeFi in order to drive innovation and broad adoption. Its team said the protocol’s zero-cost borrow system and Pay-As-You-Earn (PAYE) model aligns incentives between borrowers and lenders, while integrating Chainlink further optimizes its user experience.
“Integrating with Chainlink Price Feeds unlocks a new realm of possibilities and significantly strengthens Stella’s capabilities as a protocol,” the team said. “With Chainlink’s reliable and accurate real-time price data readily available, Stella can now offer enhanced functionalities that were previously unattainable.”
Stella’s team highlighted the transparency enabled by Chainlink oracles as a key factor attracting more users to DeFi.
“Increased transparency and reliability mitigate the concerns of potential users, particularly those who are new to DeFi, by addressing issues such as price manipulation and inaccurate collateral valuations,” they said.
Integrating Chainlink as the industry-standard oracle network also facilitates interoperability between different DeFi protocols and platforms as well as traditional financial entities, giving users access to a broader range of digital assets and DeFi strategies while bridging the gap between DeFi and traditional finance.
“The integration with Chainlink not only enhances Stella’s capabilities but also opens doors to a vast network of developers, collaborators, and users who are actively shaping the future of DeFi,” said Stella’s team.
“It is a remarkable opportunity to be a part of the Chainlink ecosystem, propelling the project forward and contributing to the broader adoption and maturation of DeFi as a whole.”
To learn more about Stella, visit their website, Twitter, Discord, Telegram, and GitHub.