It really is hours to cross the gap between conventional finance and DeFi protocols, and Chainlink’s latest configurations appear to promote just that.
A new Crypto Volatility Index (CVI) for DeFi, one that helps investors to benefit from price volatility, was lately introduced by the Blockchain-powered Fintech firm COTI. Since announcing the incorporation of Chainlink oracles into the Index to decentralize how it is measured, and to enable the CVI to be accessible across other channels, the business is making headlines again.
This allows CVI to fulfill its ultimate vision of being a decentralized, sustainable, open, insightful, and replicable digital currency volatility information standard, as per COTI.
CVI, also known as the “Market Fear Index,” is intended to assess the aspirations of the market for potential uncertainty over the next 30 days.
The rise was also appreciated by Chainlink Product Manager Johann Eid, who added,
“Bringing an important and unique data set like CVI to the DeFi ecosystem helps facilitate novel DeFi products, further maturing the market and enhancing its ability to compete with traditional finance.”
For this purpose, the STASIS stablecoin portal, which offers Euro-backed virtual currencies, has also incorporated Chainlink to offer direct on-chain automatic on-demand inspections of the deposits supporting its flagship EURS stablecoin offering.
A new business statement announced that the Chainlink Proof of Reserve oracle would be utilized every ten minutes to verify the off-chain fiat reserve balances and on-chain token distribution of the STASIS EURS continuously. Gregory Klumov, CEO and Founder of STASIS, stated in a comment given amid reports of the incorporation,
“This advancement will have a positive impact on stablecoin use cases, ultimately driving global acceptance of the DeFi field even further.”