Ondo Finance has begun utilizing Chainlink
$8.46
as the information supply for its tokenized US inventory merchandise on Ethereum
$1,971.02
.
This replace brings official on-chain value feeds for SPYon, QQQon, and TSLAon. These tokens mirror the SPDR S&P 500 ETF, the Invesco QQQ ETF, and Tesla shares.
Ondo shared on February 11 that the brand new feeds are energetic on Euler. Customers on Euler can now pledge these tokenized shares as collateral and borrow stablecoins.
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This marks a shift from treating tokenized equities solely as a solution to monitor costs. They’ll assist borrowing and different monetary use circumstances.
The brand new hyperlink with Chainlink provides reliable pricing info immediately on-chain. DeFi providers can use these numbers to determine how a lot collateral is required and when liquidations ought to happen.
The feeds additionally embrace updates on company actions, resembling dividends, so functions can reference present fairness values.
Extra tokenized shares and ETFs are anticipated later as oracle protection grows and extra protocols undertake the feeds. For the property already listed, Sentora oversees the chance settings.
In line with Ondo, tokenized shares had a significant hole earlier than this variation. They have been simple to carry for publicity to market actions, however not broadly accepted in lending markets.
In the meantime, Chainlink plans to convey extra of the US inventory market onto blockchain networks. How? Learn the total story.
