Paxo Finance integrates Chainlink Price Feeds to help power accurate liquidations in the lending protocol. Paxo Finance is an undercollateralized DeFi lending and borrowing protocol.
Integrating the industry-leading decentralized oracle network enables Paxo to access high-quality, tamper-proof price data feeds needed to support accurate liquidations, helping ensure protocol and lender solvency. The platform chose Chainlink as its go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. Chainlink already helps secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans. Increasing Protocol Security and Reliability With Chainlink Price Feeds Overcollateralized lending is the de facto standard in Web3 because anonymous users and lack of credit history mean lenders have no assurance that borrowers will pay back their loans. Furthermore, Paxo Finance was created to help users access more capital for less money, wh...