Sturdy Integrates Chainlink Price Feeds to Help Secure Its DeFi Lending Protocol on Fantom

After thorough testing, we’re delighted to announce that Sturdy has integrated Chainlink Price Feeds to help secure its DeFi lending protocol on Fantom mainnet. Sturdy is a new DeFi primitive that enables interest-free loans and high-yield lending. Sturdy leverages accurate and high-quality data from Chainlink Price Feeds to provide DeFi users with a permissionless and non-custodial way to access lending markets.

Understanding Sturdy

Users can interact with Sturdy in two ways: as lenders who deposit funds they’d like to earn interest on, or as borrowers who provide collateral and take out loans. When borrowers provide collateral for a loan, Sturdy stakes it in protocols such as third-party yield aggregators like Yearn Finance to earn yield. As the collateral’s value grows over time, Sturdy takes the yield and distributes it to lenders. As a result, Sturdy is able to simultaneously offer interest-free loans to borrowers and high yields to lenders, making Sturdy the first positive-sum lending protocol.

Therefore, Sturdy relies on accurate price data to manage the protocol. Without this data, the protocol would be unable to calculate the value of a user’s collateral or ensure the safety of the protocol by liquidating over-leveraged positions.

Integrating Chainlink

After in-depth research and peer testing, Sturdy integrated the industry-leading Chainlink Price Feeds on Fantom for the following pairs: ETH/USD, FTM/USD, USDC/USD, DAI/USD, and USDT/USD. These high-quality, tamper-proof price feeds provide our users with stronger assurances that yields are accurately calculated and liquidations are fairly processed to protect the protocol.

Chainlink is the industry-leading decentralized oracle solution, backed by high-quality data, secure node operators, and a robust reputation framework for proving the security and performance of its systems. By integrating Chainlink, we gain access to a highly secure and stable market data solution, which is vital to any decentralized lending protocol.

Some of the other key benefits of the Chainlink Price Feeds include:

• High-Quality Data — data is sourced from numerous premium data aggregators, leading to volume-adjusted global market prices with robust market coverage and protections against flash crash outliers and data manipulation attacks.
• Reliable Nodes — price feeds are secured by a decentralized network of independent, security-reviewed, Sybil-resistant oracle nodes run by leading blockchain Developer teams with a proven history of reliability during a variety of market conditions.
• Decentralized Infrastructure — both the data sourcing and on-chain transmission processes are decentralized, removing any central point of failure.
• Reputation System — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the performance of node operators and oracle networks.

Fortunately, Chainlink Price Feeds are available across the multi-chain ecosystem, enabling Sturdy to seamlessly launch on other chains. We’re currently working towards launching Sturdy on Ethereum mainnet and will, once again, integrate Chainlink Price Feeds to help secure our protocol.

“Chainlink Price Feeds are the market-leading price data solution for a reason — its high-quality data has become a core piece of infrastructure for the entire DeFi economy. Providing our users with transparent, tamper-proof price data helps ensure our users are supported by the best market data solution in the industry.” — Sam Forman, Co-founder and CEO of Sturdy

About Chainlink

Chainlink 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.

Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link. To discuss an integration, reach out to an expert.

About Sturdy

Sturdy is a first of its kind DeFi protocol for interest-free borrowing and high-yield lending. Rather than charging borrowers interest, Sturdy stakes their collateral and passes the yield to lenders. This model changes the relationship between borrowers and lenders to make Sturdy the first positive-sum lending protocol.

To learn more, you can connect with us on Twitter, Discord, and Medium.