Liqwid Labs shakes up Cardano DeFi with the historic integration of Charli3’s oracle price feeds.

On Thursday (April 6), Yevhen Karpenko, Twitter Ambassador at startup DeFi, recently shared his excitement about “The FIRST ORACLE INTEGRATION ON CARDANO!” He emphasized that this significant event demonstrates the ongoing commitment to full decentralization on Cardano and the growing interest from various projects.

Liqwid Labs, the company behind the interest rate protocol Liqwid, announced in a blog post published yesterday that they have successfully integrated Charli3’s oracle price feeds.

As an open-source, algorithmic, and non-custodial interest rate protocol, Liqwid allows users to securely earn interest on deposits, easily borrow assets, and benefit from four yield streams on ADA. The mainnet launch took place in early February 2023.

Liqwid Labs revealed that the integration of Charli3’s oracle price feeds would secure collateral and liquidations in the SHEN market. They have completed integrating the SHEN/USD price feed and plan to incorporate the ADA/USD Charli3 price feed soon. By using Charli3’s decentralized price feeds, Liqwid can create new loans, update collateral values, and initiate liquidations for undercollateralized loans with greater accuracy and security.

The integration of Cardano-native oracle service provider Charli3’s price feeds guarantees accurate, continuous price data within Liqwid markets. This partnership also strengthens resistance against centralized oracle price manipulations from a single trusted source. The collaboration is a vital step in Liqwid’s mission to become a fully decentralized lending protocol on Cardano.

Liqwid Labs is also working on developing multiple new price feeds to meet the increasing demand for new markets on Liqwid v1. Those interested in learning more about the proposed markets for launch on Liqwid v1 can visit the “New Markets” section in the Liqwid governance forum.

As the first DeFi protocol to build on Cardano and integrate with a Cardano native decentralized oracle protocol, Liqwid sets a high standard for decentralization and safety, encouraging other protocols within the Cardano DeFi ecosystem to follow suit.