YOP Finance recently announced integrating Chainlink Price Feeds to access precise, decentralized on-chain data.
The integration will help the yield aggregator propose better price display conversions and secure vault strategies. YOP Finance’s current objective is to simplify DeFi yield for new users, and their latest step will compress the process into three steps with a simplistic user interface.
Users only need to deposit digital assets into YOP Finance, which will help them earn optimized variable yields. YOP Finance is a high-quality yield aggregator that allows users to deploy capitals into different DeFi protocols by depositing digital assets into vault strategies.
These strategies act as the base of the YOP protocol, layering different opportunities from protocols for an optimized yield. The strategies have encoded everything, whether depositing, claiming, withdrawing, reinvesting, or other aspects.
Currently, five vaults are running in YOP where customers can deposit USDC, USDT, DAI, Ethereum, or Bitcoin. Since precise data has a crucial job in YOP Finance, implementing Chainlink Price Feeds is a natural choice for the platform.
The oracle has showcased its high standards for decentralized price data on numerous fronts. It already secures billions of dollars for DeFi protocols and aggregation layers to facilitate a fair market price.
Some of its critical features are:-
- Precise Data:- The oracle sources data from multiple data aggregators to provide high-quality, decentralized data.
- Safe Node Operators:- The price feeds are secured by Sybil-resistant, independent oracle nodes, supported by leading data providers and DevOps teams.
- Transparency:- With the help of on-chain assessment tools and reliable frameworks, the price feeds are completely transparent.
- Decentralized Network:- The feeds are decentralized at oracle nodes, network levels, and data sources.
According to the YOP team, the venture is dedicating everything to building user-friendly experiences to boost the upcoming DeFi adoption. It will also boost vaults and backend features with the help of Chainlink Price Feeds.