Mendi Finance Integrates Chainlink Price Feeds To Help Secure Our Money Markets

We’re excited to announce that Mendi Finance — Linea’s top native lending protocols — has integrated Chainlink Price Feeds on Linea mainnet. By upgrading to the industry-leading decentralized computing platform, Mendi has access to high-quality, tamper-proof price feeds needed to display live and accurate market prices. This will provide our users with stronger assurances that the value of their assets on Mendi Finance is always representative of the accurate market value.

Our initial integration involves the use of the following Chainlink Price Feed USD pairs: USDC, USDT, DAI, wETH, wBTC, wstETH, weETH, and wrsETH. We chose Chainlink as our preferred oracle solution because its infrastructure is seamless to integrate and time-tested in production. As the most widely adopted price data standard in Web3, Chainlink already helps secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.

Mendi Finance aims to provide the most secure money market experience for users. With Chainlink’s integration alongside other notable security features like Hypernative and IntoTheBlock dashboards, we are able to give users a secure DeFi experience so that they can transact with confidence on Mendi Finance.

In order to help secure our money markets, we needed access to fresh asset prices that are supplied directly on-chain in a highly reliable manner. Fair market asset prices should reflect a volume-weighted average from all trading environments. Thus, we needed to make use of an oracle network to fetch aggregated price data off-chain and deliver it on-chain to be consumed by our application.

After reviewing various oracle solutions, we integrated Chainlink Price Feeds because they provide a multitude of critical features such as:

• High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that’s aggregated from hundreds of exchanges, weighted by volume, and cleaned of outliers and wash trading. Chainlink’s data aggregation model generates more precise global market prices that are inherently resistant to inaccuracies or manipulation of any single or small set of exchanges.
• Secure Node Operators — Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises. Chainlink nodes have a strong track record of reliability, even during high gas prices and infrastructure outages.
• Decentralized Network — Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or oracle network.
• Reputation System — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical and real-time performance of node operators and oracle networks.

With the Chainlink integration, Mendi Finance takes another significant step towards enhancing security.

“We’re excited to integrate the industry-standard Chainlink Price Feeds to help secure our money market. Price Feeds is an obvious choice as it’s the most reliable, accurate, and decentralized solution available. Security of user funds is mission-critical, and this was a key factor for us to integrate Chainlink.” — Barna, Co-Founder of Mendi Finance.

About Mendi Finance

Mendi Finance a leading native lending protocol on Linea. Earn high yields from reward tokenomics with Lynex and earn from 100% protocol profits in real yield by staking MENDI.