- Liqwid is integrating Cardano’s Charli3 price feeds to enhance decentralization.
- Charli3 is Cardano’s first oracle provider for on-chain and off-chain data.
Cardano is pushing on with its decentralization agenda, the latest being integrating its oracle provider Charli3’s price feeds to the DeFi platform Liqwid.
Liqwid Labs said in a press release Friday that its liquidity and staking markets were integrating the oracle price feeds to enhance SHEN market collateralization and liquidity. The DeFi platform would use Charli3 price feeds for calculations in creating new loans, updating collateral data, and liquidating undercollateralized loans.
According to Liqwid Labs, the integration would enhance the accuracy and continuity of data, a deviation from the manipulations witnessed in the centralized oracle systems. Besides ADA/USD price feeds, Liqwid said it had integrated SHEN/USD and was working on having multiple other news feeds.
Commenting on the integration, Liqwid co-funder Dewayne Cameron said: “Charli3 is Cardano’s first decentralized oracle service provider on mainnet; working with the talented developers that built this protocol and seeing their clear vision for the evolution of Cardano DeFi has been insightful and super motivating.”
About Liqwid and Charli3 oracles
Liqwid was the first protocol to develop on Cardano, and being the first to integrate the blockchain’s native decentralized Oracle protocol, Cameron said, makes it an ideal opportunity to focus on decentralization and the safety of the DeFi ecosystem.
As an algorithmic liquidity market platform, Liqwid allows users to earn interest on deposits, borrow assets, and earn a yield on ADA through staking. On the other hand, Charli3 was Cardano’s first Oracle provider, offering on-chain and off-chain data, including asset prices, gaming, and other forms.
The integration has not significantly impacted the price of native ADA tokens. At press time, the digital utility asset was changing hands for $0.385, a difference of +0.21% in the past day and -4,8% in the last week, according to CoinMarketCap. Although Liqwid’s integration marks an expansion of Cardano, the long-term impact on ADA price for a possible go at $1 remains to be seen.