.chainlink Automation will run specific tasks, including price updates and liquidity balancing, to help maintain the stability of Maker’s $5 billion DAI stablecoin. sndr_krisztian reports
Chainlink Automation will run specific tasks, including price updates, liquidity balancing for the DAI Direct Deposit Module and debt ceiling upgrades for assets held as collateral, according to the press release.
“This network of automated bots perform essential tasks to maintain the Maker protocol and will be greatly expanded through the integration with Chainlink’s renowned, hyper-reliable automation platform,” Nadia Álvarez, a member of MakerDAO’s Growth Core Unit, said in a statement. Maker is an automated crypto lender with some $7 billion of assets pledged on the platform, which also issues the $5 billion DAI stablecoin. A decentralized autonomous organization governs the protocol by proposals and votings, and holders of the maker governance token can support or oppose decisions.that concluded Thursday 03:23 UTC. The integration will be available for execution on Saturday, MakerDAO's voting page shows.
The decision comes as Chainlink has become a deeply embedded software platform, also known as oracle, in the Web3 ecosystem to feed blockchain networks with external data from the real world. It has built wide-ranging partnerships with crypto firms and traditional companies, including
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