Solana-based AMM Saber turns to Chainlink for price feeds

Saber, the main Automated Market Maker for buying and selling steady pairs on Solana, is happy to announce its assist for the deployment of a variety of Chainlink Price Feeds on Solana.

#Blockchain builders want entry to sturdy price feeds to securely construct on high of AMM LPs. @Saber_HQ now helps #Chainlink Price Feeds, enabling @Solana builders to construct yield farms, lending platforms, and extra with Saber’s AMM LPs. https://t.co/Ca3DdJzNif

— Chainlink – Official Channel (@chainlink) November 8, 2021

Chainlink Price Feeds are the trade normal for safe and dependable price oracles, already serving to safe tens of billions of {dollars} throughout high DeFi initiatives.

Chainlink feeds for supporting Solana dApps

To start out, the next Chainlink Price Feeds can be deployed on Solana: USDC/USDT, mSOL/SOL, UST/USDC, stSOL/SOL, wFTT/FTT, wSRM/SRM, and SBR/USD. Saber recommends that any undertaking integrating assist for Saber LP tokens or SBR makes use of Chainlink Price Feeds as their oracle answer for essentially the most up-to-date price knowledge for these swimming pools.

These Chainlink-powered decentralized price oracles will allow builders to precisely and securely generate valuations on Saber LP tokens and the Saber native token (SBR) when performing key on-chain capabilities resembling issuing loans based mostly on Saber LP token collateral.

Finally, this can speed up the adoption of Saber LP tokens all through the numerous new and present DeFi protocols being constructed on Solana. Chainlink Price Feeds can be key in growing the utility of Saber as a result of it permits liquidity suppliers to earn yield whereas nonetheless having lively liquidity for their staked property.

Saber is likely one of the high DeFi exchanges by whole worth locked (TVL) and quantity on the Solana blockchain. AMM protocols like Saber act as liquidity gateways for customers and different DeFi protocols resembling lending markets, yield aggregators, asset administration options, and extra.

Additionally they function a approach for passive holders to earn an extra yield on their property by changing into liquidity suppliers and incomes transaction charges.

Nevertheless, Saber seeks to give LPs further utility on their property past incomes passive earnings. Because of this, Saber points LP tokens to liquidity suppliers, which they’ll use all through the Solana DeFi ecosystem for actions resembling yield farming or as collateral for a mortgage.

Nevertheless, it’s essential that DeFi protocols integrating assist for Saber LP tokens have sturdy oracle infrastructure in place so as to keep away from defective liquidations of person funds, mispriced rewards programs, and varied different mishappenings.