Euler Finance Integrates Chainlink Price Feeds to Get Ready for the Merge

Euler Finance — a non-custodial lending and borrowing protocol — is pleased to announce that it has integrated Chainlink Price Feeds on Ethereum mainnet.

Operating as a risk-averse protocol, Euler claims it places “a strong emphasis on the protection of users’ funds.” Through its “unique” risk management framework, users have exposure “to a new approach to lending and borrowing markets.”

Through its integration of Chainlink Price Feeds, Euler Finance now “has access to industry-leading data that help underpin the airtight security and reliability that users expect of Euler’s lending and borrowing functionality.”

As Chainlink has already helped secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value, this integration “further prevents loss of funds for users.”

Chainlink was “chosen to address concerns around TWAPs post-merge.” There is enough research “to suggest that Ethereum post-merge validation mechanism makes multi-block attacks more likely than on Ethereum before the merge.”

Additionally, the Chainlink integration “enables direct deposits of stETH, the staked ETH version by Lido Finance.” Being one of the first on-chain venues for borrowing stETH, lenders on Euler “will benefit from additional yield generated by borrowers.”

By relying on Chainlink’s leading oracle network, Euler will be able “to leverage the reliable and decentralized market data it provides to DeFi protocols, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.”

Michael Bentley, CEO of Euler Labs said:

“Price data is the lifeblood of DeFi lending protocols and Euler is no exception. As best-in-class price data infrastructure for smart contracts, Chainlink Price Feeds have a proven track record when it comes to securing lending protocols.”

As covered, Chainlink claims it is “the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain.”

Chainlink oracle networks “provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications.”

Chainlink currently “secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.”

As noted in the update, Euler is “a capital-efficient permissionless lending protocol that helps users to capture interest on their crypto assets, or hedge against volatile markets, without the need for a trusted third party.”

Euler features “a number of innovations not seen before in DeFi, including permissionless lending markets, reactive interest rates, protected collateral, MEV-resistant liquidations, multi-collateral stability pools, sub-accounts, risk-adjusted loans, and much more.”

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