Radiant Capital Integrates Chainlink Price Feeds to Secure Decentralized Money Market

Radiant Capital, a decentralized money market, has integrated Chainlink Price Feeds on Arbitrum mainnet.

By integrating the decentralized oracle network, Radiant Capital “has access to high-quality, tamper-proof price feeds needed to help calculate the value of assets deposited on our protocol.”

This will give their users stronger assurances that their money markets “are referencing highly accurate market data resistant to manipulation.” Ultimately, this integration helps “build a secure, decentralized, and scalable money market.”

Their initial integration “involves using USD-based Chainlink Price Feeds on Abitrum for the following digital assets: BTC, DAI, ETH, USDC, USDT, & BNB.”

They decided to integrate the oracle network “because it has a proven track record of helping secure tens of billions worth of value across DeFi, is natively integrated on Arbitrum mainnet, and has multiple layers of decentralization across the data source, oracle node, and oracle network layers.”

Radiant Capital is “an omnichain money market that lets users deposit digital assets on one chain and borrow various supported assets on multiple other chains.”

For example, users can “deposit WBTC on Arbitrum and simultaneously borrow and bridge USDC on Ethereum.” Lenders receive rewards “for the liquidity they add to the protocol, and borrowers can access working capital without selling their assets.”

To help secure decentralized lending and borrowing, they needed “access to fresh asset prices that are supplied directly on-chain in a highly reliable manner.”

Furthermore, fair market asset prices should “reflect a volume-weighted average from all trading environments.” Thus, they needed “to use an oracle network to fetch aggregated price data off-chain and deliver it on-chain to our application.”

After initially reviewing various oracle solutions, we integrated Chainlink Price Feeds upon launch because they provide a multitude of critical features such as:

  • High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators. This leads to price data aggregated from hundreds of exchanges, weighted by volume, and cleaned of outliers and wash trading. As a result, Chainlink’s data aggregation model generates precise global market prices that are inherently resistant to inaccuracies or manipulation of any single or small set of exchanges.
  • Secure Node Operators — Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises. In addition, Chainlink nodes have a strong track record of reliability, even during periods of high gas prices and infrastructure outages.
  • Decentralized Network — Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or oracle network.
    Reputation System — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical and real-time performance of node operators and oracle networks.

To support its multi-chain expansion, Radiant Capital will also “integrate Chainlink Price Feeds on BNB Chain once the protocol goes live on that chain.”

Roger, CMO of Radiant Capital, said:

“Accurate market data is critical for decentralized money markets. Integrating Chainlink Price Feeds helps ensure that our protocol remains secure, scalable, and decentralized.”

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