back Back

Vesper integrates Chainlink to determine the fiat-denominated value of Total Value Locked

By Pavithra R

April 30, 2021

  • Chainlink
  • United States
  • Vesper
Share

Vesper integrates Chainlink to determine the fiat-denominated value of Total Value LockedVesper, dedicated to creating and supporting the conditions for DeFi’s expansion and success has announced teaming up with Chainlink, a decentralized oracle network provider, to build a better means for establishing the U.S. dollar price of the total value locked (TVL) within the Vesper platform.

Every DeFi platform’s calculation of TVL (similar to “assets under management” or AUM in conventional finance) is unique to that platform. Often, this takes the form of retrieving price data from a single source or very few and may result in a less-accurate representation of a digital asset’s price at a particular point in time.

“On behalf of the Vesper community, we are proud to work with technology innovators and leaders such as Chainlink. We intend to explore more comprehensive relationships with the Chainlink community at-large, which not only includes this work on a TVL oracle but our new Vesper Grow pool for the LINK token,” said Jordan Kruger, co-founder of Vesper.

By partnering with Chainlink, Vesper seeks to deliver an accurate possible view of the total U.S.-dollar-denominated value of assets in its platform. The firm will leverage Chainlink’s time-tested decentralized oracle networks to integrate reliable data from multiple sources that exist outside of a cryptocurrency network.

“We look forward to supporting the creation of Vesper DeFi products by providing secure and reliable decentralized price oracles that will enable even more advanced DeFi smart contracts. By having premium data quality and robust oracle infrastructure, Vesper Pools can both properly calculate TVL and go on to create even more advanced capabilities,” said Sergey Nazarov, co-founder of Chainlink.

Previous Article

April 30, 2021

Mercurity FinTech announces appointment of Hao Liu as Co-CEO

Read More
Next Article

April 30, 2021

3 emerging InsurTech companies in the European market

Read More








IBSi Daily News Analysis

Fraud

February 23, 2024

Chainlink

Regulated firms battle surge in financial crime attempts, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Vencora acquires CREALOGIX to expand its banking technology services

Read More

Today

Axway to buy most of Sopra Banking Software activities for €330m

Read More

February 22, 2024

Kani Payments taps Pismo for data reconciliation and reporting

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023