Abstract
According to blockchain forensics firm CipherTrace, DeFi ecosystem hacks cost protocols and their users $474 million in 2021. To help prevent such attacks, protocols need a decentralized oracle mechanism like Chainlink for secure and accurate price feeds and market data.
In this session, learn how decentralized borrowing protocol, Liquity, integrated the Chainlink ETH/USD Data Feed to secure collateral, redemptions, and liquidations while protecting users against price feed exploits like flash loan attacks.
Learning Objectives
Learn why Chainlink Data Feeds are the industry standard for smart contract developers building DeFi applications
Gain an overview of how Liquity integrated Chainlink Data Feeds for core protocol functions such as opening Troves, triggering liquidations, and redeeming LUSD
Explore how Liquity utilizes a novel liquidation mechanism and leverages an algorithmic monetary policy to offer unprecedented benefits for borrowers, with over $2.3B in total value locked (TVL)
