Sirlibz
OpenDeFi has announced its partnership with Razor Network, a decentralized oracle platform that provides data to smart contacts using a network of stakers.
OpenDeFi has had the aim of ensuring that there is no slippage nor any middleman across their DeFi platform, this means that they do not plan on using intermediary exchanges instead they will deploy Oracles to help in fetching price data to the smart contract.
Through this collaboration, OpenDeFi will leverage Razor’s Network services and also run a pilot with the networks oracle when their platform is live. Razor will provide OpenDeFi’s smart contracts with trusted and uninterrupted feed from the global precious metal markets through it’s oracle networks, it will also guarantee that investors are able to purchase assets at exactly the same price at which they have bid thereby ensuring no price slippage.
Razor Network will benefit from the partnership as OpenDeFi will open support for Razor Network’s tokens to be farmed when users stake their assets on the platform. Yield farming of the utility tokens will provide users with incentive to stake their assets.
Razor decentralized oracle service provides reliable real time external data which such smart contracts need for data processing and execution. Fraudulent nodes are quickly slashed to ensure that data provided is accurate and reliable to the smart contract.
“OpenDeFi is one of the most promising DeFi platforms today. They offer a wide variety of services and utilities, which require an accurate, robust and real-time data feed from the external world. Razor’s Oracle Network meets all these requirements, which in turn guarantees that OpenDeFi’s customers have access to the best in class services. We are hopeful that this partnership will help both Razor and OpenDeFi grow together.” Hrishikesh Huilgolkar, CEO of Razor Oracle Network said.
The official announcement also showed that the partnership between OpenDeFi and Razor Network will help make OpenDeFi an effective and true DeFi platform.
