Soon-to-be-launched DeFi platform, YIELD App, today announced that it will integrate Chainlink, the decentralized oracle provider, into its protocol to provide accurate, up-to-date, tamper-proof prices on assets offered within the platform.
These Chainlink-powered decentralized price feeds aggregated from a variety of high-quality data sources will enable users to make sound and timely decisions when evaluating between different yield-bearing positions available on the YIELD App.
YIELD App will be using Chainlink Price Feed within its portfolio management and accounting systems at inception to provide live pricing across numerous assets. In addition, the YIELD app will use the Price Feeds as an audit trail for its revenue model, as well as explore other use cases that leverage Chainlink, such as increasing transparency around its AUM and how it’s invested to generate yield.
Integrating Chainlink for Data Integrity
Integrating Chainlink Price Feeds will ensure the safety and stability of prices referenced within the YIELD App, as they are supported by strong security and reliability guarantees built right into their design.
“Chainlink takes us to the next level in terms of what we can do with fund management, providing our users with fair-market prices in a secure and transparent manner like never before. This allows users to make sound decisions in the YIELD App and independently verify that they are receiving fair rates and services on the various DeFi products offered in the YIELD App.”
– CEO of YIELD App, Tim Frost