API3 builds decentrally governed and quantifiably right records feeds that energy Web 3.0 capabilities with out the utilization of third-birthday party intermediaries. Powered by Airnode-enabled first-birthday party oracles, API3’s dAPI’s are completely decentralized and blockchain-native APIs with quantifiable security…
API3, a provider of decentralized APIs for web3, this day announced an integration partnership with Hen.Cash, a decentralized lending platform. The goal of this partnership is to natively integrate API3’s records feeds with Hen.Cash, to offer legit, transparent, and decentralized records for V2 of their lending platform. The unconventional ‘Belief Accumulate API’ that powers the platform will also be made available over Airnode, to offer Hen.Cash with a capability extra revenue dart in due direction, by monetization of this files.
“API3 is jubilant to partner with Hen.Cash in bringing sophistication to DeFi by credit ranking earn evaluation and personalized lending and borrowing rates. These are each and each capabilities that we like to be extraordinarily treasured and wanted for the enhance of DeFi as a total. Thus, we are very mad to make stronger Hen.Cash with API3’s records connectivity solutions.”
– Heikki Vänttinen, Co-Founder, API3
Hen.Cash’s Belief Accumulate API is essentially based at some stage in the on-chain habits shown by an Ethereum address. Actions cherish repaying loans and having a lengthy history of exercise are rewarded, and unhealthy habits penalized. Combining this files with the Hen.Cash platform enables the platform to dangle an in my map tailor-made, records-essentially based advance to the amount users are ready to borrow.
For the V1 platform release, Hen can lengthen accumulate admission to to funds for debtors with market intelligence and payment evaluation by Hen.Cash analytics in a draw referred to as Hen+.
Hen+ is the extra quantity of tokens equipped to debtors with out any extra collateral, which is essentially based on their transaction history and rating from Hen.Cash analytics.
The Borrower could be required to pay abet the amount of digital sources with hobby, at the stipulated time. Ardour on the extra Hen+ tokens could be reduced to a minimum. Any users defaulting on a mortgage could be penalized with a decrease Belief Accumulate rating on the Hen.Cash Analytics Platform, thereby cutting again their accumulate admission to to extra funds in due direction.
“Hen.Cash is extraordinarily mad to place an integral technical partnership with API3 to comprise the most of their cutting again-edge first-birthday party Airnode Oracle know-how. API3 is poised to disrupt the scorching blockchain records-offer and Oracle know-how panorama. We are extraordinarily mad to be ready to work with them in declare to safely inform our Belief Accumulate at some stage in the DeFi spectrum.”
– Luciano Sebastián, Save, Progress and Strategic Operations, Hen.Cash