Berry Data Will Assist Bagels Finance to Integrate With Berry Oracle
We are excited to announce that Berry Data and Bagels Finance reached a partnership and Berry Data will assist Bagels Finance to integrate with Berry Oracle. Bagels Finance is one of the first leveraged yield farming cross-chain aggregation protocols built on HECO, BSC and Ethereum Layer2. Users can participate as Yield Farmers, Lenders, and Liquidators. Berry Oracle will help Bagels Finance to get more accurate price data.
Users can participate on Bagels Finance as:
Lender: Lenders on Bagels provide assets to the Bagels Vault. You can earn a simple return on your assets by depositing them into our lending vaults. These assets are then borrowed by yield farmers on the platform looking to leverage their positions and earn more.
Yield Farmer: Yield Farmers can choose different pools to lock their assets into. These pools provide liquidity to different cryptocurrency applications and provide rewards to yield farmers for their assets. Yield farmers can borrow additional assets from the Bagels Vault, allowing you to have leveraged positions (up to 10x) that can produce higher returns.
Liquidator: Liquidators monitor our pools for at-risk leveraged yield farming positions that could potentially default, and they liquidate these positions. They earn a 5% percent fee for this services but bare the cost of completing the liquidation transaction.
About Bagels Finance
Bagels Finance is the first cross-chain leveraged yield farming aggregation protocol and liquidity provider for Heco, BSC, and Ethereum Layer2. Bagels strategically interacts with multiple DeFi yield farming products and staking assets for yield farmers to earn them the highest profits. Bagels borrows assets and provides additional liquidity for yield farmers by leveraging their asset deposits, allowing yield farmers to earn a higher farming APY on their deposited and borrowed assets on Heco, BSC and Ethereum Layer2.
About Berry Data
Berry Data is a transparent community-veriﬁed price oracle on BSC(Binance Smart Chain). Berry Data provides a trustless and decentralized alternative for off-chain data. Also, it provides the infrastructure for decentralized applications to query off-chain data by properly incentivizing miners to provide data.
Berry Data is an oracle system where parties can request the value of an off-chain data point and miners compete to add this value to an on-chain data bank, accessible by all dApps on Binance Smart Chain (BSC). The inputs to this data bank are secured by a network of staked miners. BERRY utilizes crypto-economic incentive mechanisms, rewarding honest data submissions by miners and punishing bad actors, through the issuance of Berry’s governance token, BRY, and a dispute mechanism.