Vesper to Integrate Chainlink for Best Possible TVL Data, Launches LINK Pool

Vesper Finance
Apr 29 · 3 min read

Thanks to a community vote, our conservative Vesper Grow LINK pool has graduated from our beta site to the main Vesper app. That said, the Vesper team is equally excited to announce that our work in the Chainlink ecosystem goes a lot deeper.

On behalf of our community, we want to work with leaders to deliver the technologies that support our aspirations — building a DeFi ecosystem that combines professionalism with the dynamic energy of DeFi.

So, Vesper will be integrating Chainlink to deliver the most-accurate-possible look at the fiat value of the digital assets within Vesper’s pools. The result: Chainlink-powered decentralized oracles for DeFi’s most-cited metric — Total Value Locked (TVL).

Details follow.

Welcome, Marines!

But first… If you’ve come here from Chainlink’s community and are learning about Vesper for the first time, here’s the quick summary:

  • Vesper is a DeFi ecosystem and growth engine for crypto assets.
  • This takes the form of a suite of yield-generating products, focused on ease-of-use, optimization, and longevity. LINK just joined ETH, WBTC, and USDC as supported assets.
  • Our mission: To create and support the conditions for DeFi’s expansion and success, to the benefit of all participants.

Our work with Chainlink is primarily in service of that third point. Let’s learn more.

There’s TVL and Then There’s TVL

Every DeFi platform’s calculation of TVL is unique to that platform. Often, this takes the form of retrieving price data from a single source or very few. This may result in a less-accurate representation of a digital asset’s price at a particular point in time.

While the amount of tokens held within Vesper’s smart contracts is already on-chain, the USD value of each token resides off-chain. Smart contracts cannot access this external data natively, but instead require an “oracle” to deliver it on-chain — Chainlink’s well-known specialty.

Working with Chainlink, Vesper seeks to deliver the most accurate possible view of the total U.S.-dollar-denominated amount of assets on our platform. This is accomplished via leveraging Chainlink’s time-tested decentralized oracle networks to integrate reliable data from multiple sources that exist outside of a blockchain — such as a digital asset’s price in fiat currency.

Further, this is data that cannot be tampered with by the outside market or the Vesper team.

How Is This Done?

This is what Vesper’s Chainlink-powered TVL will deliver:

  • High-Quality Data — Chainlink Data Feeds have been aggregated from hundreds of exchanges, weighted by volume, cleaned of outliers/washtrading, and kept highly available.
  • Reliable Nodes — Chainlink Data Feeds are secured by a large collection of independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises.
  • Decentralized Infrastructure — Each Chainlink Data Feed is decentralized at the data provider, oracle node, and oracle network levels, eliminating any central points of failure in the sourcing and delivery of external data.
  • Transparent Performance — The performance of Chainlink Data Feeds can be monitored by anyone in real-time using powerful analytics tools such as reputation.link and market.link, ultimately empowering users to verify the data triggering Vesper pools.

We plan to continue to work with Chainlink to leverage additional oracle implementations that enable, enhance, and help scale Vesper Finance.

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