EASYFI AND CHAINLINK HAVE TEAMED UP TO BRING ADVANCED SMART CONTRACT AUTOMATION TO THEIR USERS
EasyFi Network is proud to bring Chainlink to the Ethereum mainnet due to this collaboration and bring advanced smart contract automation to all users.
EasyFi first released this integration on the Ethereum network, automation of time-linked vested contracts. Users can, for example, set the token authorization/distribution frequency during the consolidation time using this tool. The contracts are automatically implemented when the user specifies and sets this task without asserting a claim in the chain again.
Chainlink’s keepers use decentralized off-chain computing to consistently monitor and activate smart contract functions at a set rate without relying on an additional level of trust from a computer or central unit. Any smart contract application can use Chainlink Keeper to execute task-based triggers and strengthen the guarantees of the availability of critical functions in the chain.
To continuously implement and secure EasyFi, we have decided to automate our award contracts with Chainlink Keepers. They are operated by trusted, battle-tested and proven node operators who have already secured approximately $ 50 billion worth of DeFi applications. High-quality node operators are crucial even in times of significant market volatility and network saturation.
Notable features of the Chainlink Keeper infrastructure include:
● Long Uptime — The same professional DevOps teams lead chainlink Keepers with a track record of on-chain performance to maintain highly reliable Chainlink pricing sources in the event of extreme network congestion and market volatility.
● Low cost: Chainlink Keepers has several gas optimization features that reduce users’ cost of automating maintenance tasks, including a rotating node selection process to avoid gas auction wars and balance costs.
● Decentralized Execution — Chainlink leverages a pool of transparent, decentralized maintainers to provide robust guarantees for secure contract automation, save teams time, and reduce risks associated with manual intervention or centralized servers.
● Extensible Calculations: Chainlink Keepers performs off-chain calculations and generates verifiable call data through smart contracts so that developers can create advanced, low-trust dApps at a lower cost.
Future integration plans
While initial automation will focus on simple application processes, EasyFi will continue to maintain this integration to enable automatic processing of all smart contracts related to the EasyFi farming, staking, and access modules. EasyFi plans to include Chainlink Keeper as they expand support to other chains where EasyFi operates and explore automating EasyFi protocol core money market contracts in the future.
EasyFi Network CEO and Founder Ankitt Gaur said on the long-term outlook of this integration: Token distribution. They will continually explore a closer relationship with the Chainlink infrastructure to deliver an even more meaningful money market and structured financial products to the EasyFi users.
Chainlink is the industry-standard Oracle network to support hybrid smart contracts. Chainlink Decentralized Oracle Networks offers developers the largest collection of high-quality data sources and secure off-chain calculations to extend the capabilities of smart contracts on any blockchain. Managed by a decentralized global community, Chainlink currently provides billions of dollars in collateral for smart contracts in decentralized finance (DeFi), insurance, gaming, and other major industries.
EasyFi is scalability, composability, and adoption-focused universal layer 2 lending protocol designed for DeFi. It was created as an open and inclusive financial network architecture that runs on public networks and allows for end-to-end lending and borrowing of digital assets and related financial products. EasyFi is based on the principles of permissionless networks and smart contract automation.