Vee.Finance Integrates Chainlink Price Feeds to Secure Vee.Finance Money Market

We’re excited to announce that Vee.Finance, a lending protocol platform that bridges the gap between traditional financial users and crypto users, has integrated Chainlink Price Feeds as our oracle network solution to access an accurate and secure price feed on the Avalanche blockchain. By integrating Chainlink’s industry-leading decentralized oracle network, Vee.Finance has access to high-quality, tamper-proof prices needed to ensure that all aspects of Vee.Finance are fair and transparent. Ultimately this creates a more exciting and fraud-proof user experience, as users can be assured of the integrity and robustness of Vee.Finance.

Vee.Finance chose Chainlink as the go-to oracle solution because its infrastructure is seamless to integrate and is time-tested in production. Chainlink helps secure leading DeFi protocols responsible for billions of dollars in smart contracts, maintaining robust security and high availability even during unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.

Vee.Finance is a DeFi lending platform for both traditional finance and crypto users, and dedicates itself to bridging the gap between traditional finance and DeFi by providing users with better digital asset management services. Users can participate in deposits, lending, and long and short positions. On the deposits side, the threshold for traditional financial users to participate in DeFi is lowered through a more user-friendly product experience; on the lending side, through the addition of options for DEX and the first-of-its-kind leveraged trading function, capital efficiency has been greatly improved.

To ensure Vee.Finance has an accurate asset pricing mechanism, it is essential to have access to fresh asset prices that are supplied directly on-chain in a highly reliable manner. Fair market asset prices should reflect the volume-weighted average from all trading environments. To accomplish this, Vee.Finance must use an oracle to fetch aggregated price data off-chain and deliver it on-chain to be consumed by the Vee.Finance application.

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

High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, ensuring broad market coverage through price data that’s aggregated from hundreds of exchanges, weighted by volume, and cleaned of outliers and wash trading. Chainlink’s data aggregation model generates accurate 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. Chainlink nodes have a strong track record of reliability, even during 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.

Vee.Finance Lending & Borrowing Platform

In addition to the Chainlink integration, Vee.Finance is happy to announce that leveraged lending and borrowing features will also be added to the platform. Chainlink Price Feeds will also be utilized in this product to help ensure that borrowing rates, collateralization, and liquidations are calculated according to fair market-wide prices.

About Vee Finance

Vee.Finance is a DeFi lending platform for traditional financial and crypto users. We are committed to bridging the gap between traditional finance and DeFi and providing users with better digital asset management services. Users can participate in deposits, loans, long and short positions as well as other functions. Our mission is to reduce barriers for traditional users to participate in DeFi and optimize the efficiency of global asset allocation.

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Email: contact@vee.finance

About Chainlink

Chainlink is the industry standard oracle network for powering hybrid smart contracts. Chainlink Decentralized Oracle Networks provide developers with the largest collection of high-quality data sources and secure off-chain computations to expand the capabilities of smart contracts on any blockchain. Managed by a global, decentralized community, Chainlink currently secures billions of dollars in value for smart contracts across decentralized finance (DeFi), insurance, gaming, and other major industries.

Chainlink is trusted by hundreds of organizations, from global enterprises to projects at the forefront of the blockchain economy, to deliver definitive truth via secure, reliable oracle networks. To learn more about Chainlink, visit chain.link, subscribe to the Chainlink newsletter and follow @chainlink on Twitter. To understand the full vision of the Chainlink Network, read the Chainlink 2.0 whitepaper.

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