Cardano and Liqwid Join Forces for Enhanced DeFi With Charli3’s Oracles
Cardano is continuing its efforts towards decentralization by incorporating Charli3's oracle provider price feeds into Liqwid, its DeFi platform.
Liqwid Labs announced on Friday that the oracle price feeds would improve the SHEN market’s collateralization and liquidity.
Liqwid would utilize Charli3’s price feeds to calculate new loans, update collateral data, and liquidate undercollateralized loans.
This integration is expected to increase data accuracy and consistency, which is a departure from the centralized oracle systems’ manipulations. Liqwid also confirmed that it had integrated SHEN/USD and was working to include several other price feeds.
Liqwid was the first protocol to be built on Cardano, and it was the first to incorporate the blockchain’s native decentralized Oracle protocol. As a result, it is an excellent opportunity to concentrate on decentralization and the DeFi ecosystem‘s safety.
READ MORE: Cardano: Strong Fundamentals Point to Potential ADA Price Spike
Liqwid is an algorithmic liquidity market platform that allows users to earn interest on deposits, borrow assets, and earn ADA staking yields.
Charli3 was Cardano’s initial Oracle provider, providing on-chain and off-chain data, including asset prices, gaming, and other data types. Although the integration has expanded Cardano’s capabilities, the long-term impact on ADA’s price remains to be seen.
At the time of writing, ADA was trading at $0.385, with no significant price movements in the past 24 hours.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
