Clip Finance Has Integrated Chainlink Price Feeds and Automation
We’re excited to announce that Clip Finance — a cutting-edge DeFi protocol providing users with secure and automated vault options — has integrated Chainlink Price Feeds and Automation on BNB Chain mainnet. Specifically, Chainlink Automation helps batch deposits and withdrawals, which significantly reduces onchain network costs for users. Chainlink Price Feeds are used to help price stablecoin conversions as users enter into various onchain yield strategies, helping ensure that stablecoins are exchanged at, or close to, their fair-market price.
Growing Clip Finance Supported By Chainlink Services
Clip Finance aims to make yield strategies available to a mainstream audience by focusing on building user-friendly, risk-managed, and automated yield solutions. For example, Clip Finance’s first product, Automated Income Vault, enables users to deposit their stablecoins with a single click and get aggregated yield from a wide range of DeFi protocols. With broad support for a vast range of DeFi protocols, including Thena, DoDo, Stargate and Biswap, the Clip Finance protocol is widely accessible to everyone.
Securing Clip Finance With Chainlink Price Feeds
Price manipulation is known to be an invisible cost to users in the crypto world. Chainlink Price Feeds help ensure fair-market pricing during stablecoin to stablecoin conversions needed for specific yield management strategies, which ultimately helps safeguard users against potential price manipulation or liquidity re-allocations.
This is made possible by Chainlink Price Feeds’ unique and decentralized data aggregation model, which pulls from hundreds of data sources through high-quality data aggregators to arrive at a fair market price. Some of the best-in-class features offered by Chainlink Price Feeds include:
- High-Quality Data — Data is sourced from numerous premium data aggregators like BraveNewCoin and Kaiko, leading to volume-adjusted global market prices with robust market coverage.
- Reliable Nodes — Price feeds are secured by a decentralized network of independent, security-reviewed oracle nodes run by leading blockchain DevOps teams with a proven history of hyper-reliability.
- Decentralized Infrastructure — Both the data sourcing and transmission onchain are decentralized, removing any central point of failure.
Streamlining Yield Farming With Chainlink Automation
Variable network fees are an ongoing headache for many DeFi users, especially for repeated transactions. That’s why Clip Finance leverages Chainlink Automation to help batch deposits and withdrawals, which effectively stacks multiple transactions into a single transaction. This significantly reduces gas fees to the tune of hundreds of dollars, all while keeping the ability for users to decide when and how to execute their own transactions.
A few standout features of Chainlink Automation include:
- Highly reliable, performant, and decentralized automation — Chainlink Automation ensures transactions are identified and confirmed quickly even during periods of heavy network congestion by leveraging Chainlink’s battle-tested transaction manager.
- Time-tested infrastructure that helps save costs — Chainlink Automation enables us to eliminate in-house automation infrastructure costs, reduce resources spent on DevOps, and increase speed and efficiency.
- Built to enable faster scaling — Chainlink Automation enables us to scale faster and avoid the challenges that come with building and maintaining the infrastructure needed to reliably automate across multiple chains.
Looking Ahead: Building a Go-To Cross-Chain Yield Platform for DeFi Users
In the future, Clip aims to become the go-to cross-chain protocol for DeFi yield by leveraging Chainlink CCIP, which would help unlock the ability for Clip users to earn yield across the multichain ecosystem. Specifically, integrating CCIP would allow users to remain on their chain of choice while earning yield on the blockchain that provides the safest and highest returns. With CCIP, Clip Finance can hide the complexities of bridging, swapping and managing yields on different blockchains — providing a truly seamless gateway for users to access any and all blockchains.
“Chainlink is one of the most important protocols in DeFi. It provides the mission-critical infrastructure needed for protocols like Clip Finance to build a secure, reliable decentralized future for next-gen finance. We’re very happy to integrate these critical Chainlink services, which have helped improve Clip’s user experience by leaps and bounds.” — Mikk Maal, Co-Founder of Clip Finance.
About Chainlink
Chainlink is the industry-standard decentralized computing platform powering the verifiable web. Chainlink has enabled over $8.5 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link. To discuss an integration, reach out to an expert.
About Clip Finance
Clip Finance aims to set a new standard for DeFi yield products. Clip is building secure, risk-managed, and automated on-chain yield solutions for digital assets. Clip Finance is focused on simplifying the user experience for earning yield in DeFi. Clip’s product suite includes solutions for users with different sophistication levels and risk tolerance, as well as acts as an infrastructure layer for builders in the space to create innovative yield products.
Learn more about Clip by visiting https://www.clip.finance/
