Wrapped lets investors use their digital assets to lend, borrow, and trade on all major DeFi platforms. Each wrapped asset is fully-collateralized and held with a qualified custodian. Part of the Wrapped model requires on-chain price information that is secure, reliable, and accurate. Since all wrapped assets are fully backed 1:1 with their underlying using a qualified custodian, knowing that the price of a wrapped asset maintains its peg to its underlying is one of the most important things alongside its security.
Wrapped uses Chainlink to price layer-one assets that are wrapped and deployed onto the Ethereum blockchain. Using Chainlink Price Feeds enables wrapped assets on Ethereum to be priced on-chain within Ethereum dapps, such as when they’re used for collateral in lending markets or native payment within other external services.
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Wrapped Blog: https://medium.com/wrapped/the-oracle-knows-selecting-chainlink-to-source-on-chain-pricing-for-layer-one-assets-that-we-wrap-dd05decb702a
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Chainlink is the most widely used oracle network for powering hybrid smart contracts, enabling any blockchain to securely access off-chain data & computations.
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