B.Protocol v2 is Using Chainlink Keepers on Ethereum Mainnet to Secure B.AMM Liquidations
B.Protocol is now leveraging Chainlink Keepers on the Ethereum mainnet to help liquidate loans within our Backstop Automated Market Maker (B.AMM)! Through this integration, B.Protocol’s liquidation mechanism for B.AMM on Liquity protocol is now ever more resilient during extreme market volatility, ensuring continued solvency and strong correlation with global market prices for projects relying on B.Protocol.
Chainlink Keepers are used for two key functions:
- Whenever the B.AMM price deviates significantly from the current market price due to a large inventory imbalance, Chainlink Keepers automatically trigger an arbitrage transaction with a DEX aggregator. The arbitrage decreases the imbalance and allows the B.AMM to offer prices that are closer to the market price.
- In lending platforms where a dedicated liquidation transaction is needed, Chainlink Keepers would automatically step in and trigger liquidation functions, adding more robustness to our liquidation mechanism.
B.Protocol opted for Chainlink Keepers because it’s operated by a decentralized network of independent and time-tested node operators that are proven to secure tens of billions of dollars across DeFi. Chainlink Keepers are optimized for low costs through the use of a rotating node selection framework and off-chain computations, which are then verifiable by our smart contracts before taking critical on-chain actions.
As posted before, the integration ultimately ensures that B.AMM’s liquidations and on-chain pricing mechanism are timely and consistently represent the most up-to-date global market prices no matter the on-chain or off-chain conditions. We’re excited to make B.Protocol ever more robust for users via Chainlink Keepers, leading to a safer, fairer, and more reliable user experience.
About Chainlink
Chainlink is the industry standard oracle network for powering hybrid smart contracts. Chainlink Decentralized Oracle Networks provide developers with the largest collection of high-quality data sources and secure off-chain computations to expand the capabilities of smart contracts on any blockchain. Managed by a global, decentralized community, Chainlink currently secures billions of dollars in value for smart contracts across decentralized finance (DeFi), insurance, gaming, and other major industries.
Chainlink is trusted by hundreds of organizations, from global enterprises to projects at the forefront of the blockchain economy, to deliver definitive truth via secure, reliable oracle networks. To learn more about Chainlink, visit chain.link and subscribe to the Chainlink newsletter. To understand the full vision of the Chainlink Network, read the Chainlink 2.0 whitepaper. Want to discuss an integration? Talk to an expert.
Solutions | Docs | Twitter | Discord | Reddit | YouTube | Telegram | GitHub
About B.Protocol
B.Protocol is a Backstop Liquidity protocol, handling liquidations in scale for DeFi lending platforms. By creating a transparent, committed, smart contract-based liquidation system, B.Protocol enables better capital efficiency for DeFi users, while creating another layer of stability for the lending platforms themselves. As liquidations are the main growth engine for DeFi, The B.Protocol backstop solution is unleashing its growth potential.
B.Protocol is live on mainnet since Oct. 2020, is fully decentralized, and controlled by the BPRO token holders.
To learn more, please visit our Website, Twitter, Discord, Medium, Forum, Reddit, and GitHub.
