Chainlink Price Feeds and Automation are integrated into Yieldification to power continuous futures trading with the built-in NFT utility. With on-chain access to high-quality index and asset price data and the performance of smart contract automation, people can calculate liquidations more accurately and consistently. In addition, they can effortlessly initiate stop loss and take profit orders.
Positions in Futures Represented as NFTs
Futures holdings represent fully tradable and transferrable NFTs on Yieldification (YDF). The additional flexibility of NFTs allows them to provide their consumers with more functionality around staking, lending, borrowing, and trading, even though they don’t anticipate that these positions will be traded or transferred frequently.
With Chainlink Price Feeds, Perpetual Futures Trading is Secured!
Since launching, the Yieldification platform has allowed more than $60 million in trading activity across a wide range of digital assets and indices. Moreover, they use Chainlink Price Feeds to support this trading activity by precisely calculating asset prices for transactions and assisting with liquidation triggers.
About Chainlink
The industry standard for creating, using, and offering Oracle services is Chainlink. Also, Chainlink is required to power hybrid smart contracts on any blockchain. With Chainlink oracle networks, smart contracts have a reliable mechanism to connect to any external API. Thus, you can use secure off-chain computations to enable feature-rich applications.
About Yieldification
A DeFi protocol called Yieldification offers novel methods and tradable stake NFTs.
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