CapMoney's cUSD Stablecoin Will Be Powered by Chainlink Price Feeds on Ethereum

CapMoney has revealed that its flagship cUSD stablecoin will be powered by Chainlink Price Feeds on Ethereum. Designed for easy cross-border payments

CapMoney, a leading cryptocurrency company, has announced that its flagship cUSD stablecoin will be powered by Chainlink Price Feeds on Ethereum.

Designed to serve as a dependable store of value within DeFi, and for easy cross-border payments and cost-effective remittances, the stablecoin is pegged to the US dollar on a 1:1 basis.

To promote the widespread use of stablecoins in the on-chain economy and deliver on its promise of stability and trust, CapMoney aims to integrate Chainlink’s industry-leading oracle technology.

Chainlink Price Feeds are renowned for their decentralized architecture and robust security. They aggregate data from multiple high-quality sources, including both centralized and decentralized exchanges, and use volume-weighted averages to provide the most accurate and tamper-resistant pricing data.

This technology ensures that each price update is validated by a network of independent, security-audited oracle nodes, which collectively reach consensus before publishing data on-chain.

By combining these multi-layered aggregation and validation techniques, Chainlink safeguards against several critical challenges, such as market manipulation, flash loan attacks, and single points of failure.

Chainlink’s decentralized network springs into action when cUSD’s smart contracts require a price update due to a market price deviation or a scheduled ‘heartbeat’.

Each oracle node independently fetches price data from multiple aggregators, filters out any anomalous data points, and submits its result to the network. The network then aggregates these submissions, removes outliers, and takes the median value to publish on-chain. This ensures that cUSD’s peg remains accurate despite high market volatility or network stress.

Chainlink’s price feeds enable CapMoney’s cUSD to be seamlessly integrated into DeFi protocols that require consistent, up-to-date pricing data to sell new assets, such as inclusion in lending platforms, automated market makers, and yield farming applications. This will substantially increase cUSD’s liquidity and use within the Ethereum ecosystem.

Smart contracts can also perform actions based on real-world data using Chainlink’s infrastructure programmability, such as automating settlements or changing collateral requirements.

In addition to strengthening cUSD’s technological foundations, this partnership with Chainlink sets a benchmark for other stablecoin issuers aiming to build reputation and utility in the decentralized market.