OKX Banner
BTC $77,937.00 (-3.17%)
ETH $2,443.74 (-2.99%)
BNB $694.77 (-2.26%)
XRP $1.39 (-4.54%)
SOL $104.84 (-2.97%)
TRX $0.34 (+0.48%)
HYPE $81.38 (-5.61%)
ZEC $793.79 (-4.06%)
DOGE $0.09 (-4.46%)
RAIN $0.02 (+1.55%)
XMR $468.76 (+0.11%)
LEO $9.42 (+0.86%)
LINK $11.49 (-3.46%)
ADA $0.20 (-5.71%)
XLM $0.18 (-4.59%)
BCH $247.25 (-8.70%)
CC $0.11 (-3.32%)
LTC $48.98 (-2.58%)
GRAM $1.36 (-5.83%)
HBAR $0.08 (-4.00%)

BENQI Integrates Chainlink Proof Of Reserve And Automation

Share on X icon · Published 3 years ago on February 10, 2023 · Hassan Maishera

BENQI, a leading algorithmic money market protocol on Avalanche, has integrated Chainlink Proof of Reserve and Automation to help secure cross-chain asset lending and borrowing for BTC, ETH, DAI, USDC, and USDT.

BENQI Integrates Chainlink Proof Of Reserve And Automation

Chainlink announced via Twitter on Thursday that BENQI, a leading algorithmic money market protocol on Avalanche, has integrated Chainlink Proof of Reserve and Automation to help secure cross-chain asset lending and borrowing for BTC, ETH, DAI, USDC, and USDT. The combination of these two Chainlink oracle services enables BENQI to employ a defense-in-depth approach to cross-chain asset security.

The team explained that Chainlink Proof of Reserve enables the reliable and timely monitoring of off-chain or cross-chain reserves using automated verification based on cryptographic truth.

Chainlink Network (LINK) aims to provide tamper-proof inputs and outputs of data for smart contracts on any blockchain. LINK is up by 1% over the past 24 hours and is trading at $7.003 at press time.

KiiChain Taps TRON's Stablecoin Rails for 360,000 Users
Next article KiiChain Taps TRON's Stablecoin Rails for 360,000 Users

Author

Read Hassan Maishera's articles →
Hassan Maishera
Hassan Maishera Senior Reporter

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.

Editorial Standards Corrections & Retractions Policy About
Cybet Banner
OKX Banner