Much of the explosive growth of DeFi in recent years is due to the open-source nature of decentralized technologies. As the industry-standard decentralized oracle network, Chainlink provides smart contracts with highly reliable, tamper-proof off-chain data, randomness, and computation that enables increasingly sophisticated on-chain functions.
Chainlink Keepers is a decentralized service that uses the same network of security-reviewed and historically proven node operators to automatically trigger time-sensitive smart contract functions, such as executing limit orders on decentralized exchanges, liquidating undercollateralized loans, and releasing locked assets after periods of inactivity. Keepers’ end-to-end decentralized automation strengthens uptime guarantees, saving developers time and money while enhancing user experience.
For DeFi protocols like Teneo, which recently integrated Chainlink Keepers on BNB to automate reflows and buybacks, Keepers’ key advantage is the freedom to focus on innovating core offerings without having to manually trigger smart contract functions or independently build automation infrastructure.
“We think Keepers is the most underestimated service from Chainlink,” Teneo team member, int(0.0), told Chainlink Today.
“Every coder could create a script calling blockchain functions. But it’s a lot of effort to make it safe and reliable. Chainlink has a ready product – well-tested, coded, and observed by the best coders in the space. For us and every coder who cares about safety and reliability, Keepers is a no-brainer.”
Teneo is a sustainable, incentive-backed DeFi ecosystem that allows users to wrap assets which generate rewards over time. Keepers will increase decentralization and trust-minimization of Teneo’s rewards distribution.
int(0.0) said that, in addition to supporting more wrapped assets in the future, Teneo aims to be one of the first projects to integrate Chainlink’s Cross-Chain Interoperability Protocol (CCIP), slated for release this year.
“CCIP is something we have been waiting for a long time. The problem of interoperability between blockchains is obvious. It’s even more obvious to solve that problem in a decentralized way. There are some solutions out there, especially bridges that connect one value with another, but most of them are not decentralized and, at the moment, can only ‘just’ bridge balance A to balance B. For our wrapped tokens, we need more.”
int(0.0) emphasized how decentralized technologies ultimately change the lives of the people engaging with them.
“We think that crypto is the best tool we have to make the world a better place. And it’s important to surround yourself with good people and good projects to reach this goal. So, it feels good to be part of Chainlink’s ecosystem.”