Chainlink, a universal forum for financial institutions and builders to communicate across the chains, has announced an exclusive development. As per the firm, Moonwell, a Base-based open app for borrowing and lending, has integrated Chainlink Price Feeds, to get assistance in providing a secure lending and borrowing experience. The platform took to its official social media account on X to disclose this endeavor.
.@MoonwellDeFi has integrated #Chainlink Price Feeds to help secure borrowing and lending across @base, @MoonbeamNetwork, and @MoonriverNW.
Chainlink’s safety-critical infrastructure significantly enhances the Moonwell user experience. pic.twitter.com/F0o1mYhlTS
— Chainlink (@chainlink) July 16, 2024
Moonwell Integrates Chainlink Price Feeds to Offer a Cutting-Edge User Experience
The firm noted in its X post that the integration will let Moonwell consumers enjoy a cutting-edge user experience. The safety-critical infrastructure of Chainlink substantially contributes to this endeavor. Chainlink Price Feeds’ integration into Moonwell denotes a remarkable advancement to secure lending and borrowing procedures across diverse blockchain entities.
The respective blockchain platforms take into account Moonriver Network, Moonbeam Network, as well as Base. As a part of this endeavor, Moonwell reportedly leverages the well-reputed and dependable price feeds of Chainlink. With this, it targets the provision of a more effective, transparent, and secure financial ecosystem to its clients. Chainlink Price Feeds have obtained significant appreciation for their reliability and resilience.
The Integration Offer Real-Time Information for Accurate and Secure Lending and Borrowing
They potentially play a crucial role in the overall DeFi realm by providing tamper-proof and precise market data. The current integration guarantees that the protocols operating under Moonwell can reach price information in real-time for diverse assets. Hence, this improves the security and accuracy of the lending and borrowing activities. The integration across diverse networks mirrors Moonwell’s determination to offer accessibility and interoperability within the DeFi world.