December is gone, and 2020 is gone with it! Last month saw the integration of Chainlink oracles’ to the RCN protocol and the release of the new USDC engine. Here are the latest news!
Chainlink Oracles & Fiat-denominated DeFi Loans
During December RCN completed the integration of Chainlink oracles to its protocol. After months of developing, testing and auditing, the price feeds provided by Chainlink now support all the currencies currently available on the Credit Marketplace, providing them with accurate, stable, and tamperproof valuations.
In addition, this integration brings the possibility to incorporate new price feeds not only for other ERC-20 tokens but also for fiat currencies, making RCN the first project to bring fiat-denominated P2P borrowing to DeFi. These future listings will be conducted on a community-driven basis, letting the Credit Marketplace current and potential users decide which assets they want to be integrated next.
You can learn more about the Chainlink oracles’ integration and the new features they enable on this piece!
USDC Engine
Last month also saw the integration of the USDC Engine to the Credit Marketplace. Thanks to it, users now can receive, repay and collect funds in one of the most popular stablecoins in the DeFi ecosystem. In addition, the USDC Engine has the ability to gather fees from operations within the protocol, which can then be used for multiple purposes.
USDC was chosen for this role due to the steady nature of its price, which makes it better suited than non-stable assets to be the vehicle in which value travels through a protocol. In addition, USDC is one of the most stable, liquid and popular stablecoins among DeFi users, having the lowest price standard deviation from the USD peg and the second largest market capitalization of all the stable assets in the ecosystem.
You can learn more about the USDC Engine on this piece!
RCN Credit Marketplace v0.3.0
2020’s last month also included another Credit Marketplace update, which incorporated several user interface (UI) changes required to support the new USDC Engine. These included adding new options to the General Settings dialog for the new Engine’s smart contracts and a new USDC button to the Withdrawable Balance tool. In addition, the latest release incorporated the RCN API v6, which improves the Credit Marketplace stability.
Never miss one of RCN’s updates!
- Visit its Official Website & check the Credit Marketplace.
- Follow it on Twitter, Facebook & LinkedIn.
- Join its community on Telegram.
- Check its code on Github.
- Reach it at contact@rcn.finance & helpdesk@rcn.finance.
