CapMoney Has Integrated Chainlink Price Feeds to Power Its Decentralized cUSD Stablecoin

CapMoney has revealed that it will use Chainlink Price Feeds on Ethereum to accomplish the stablecoin peg to the U.S. dollar.

CapMoney, a blockchain startup, has announced the integration of Chainlink Price Feeds on Ethereum for its decentralized interest-bearing cUSD stablecoin. The stablecoin, designed for cross-border payments and remittances, aims to provide consistent pricing data and enhance security in decentralized finance (DeFi) environments.

Chainlink Price Feeds are known for their decentralization, rendering them invulnerable to manipulation. They collect data from over 20 CEXs and DEXs aggregators, merging the information using volume-weighted averages. These prices are further validated through consensus among security-audited nodes.

The smart contracts of cUSD require a market change or a new price update period when it falls due. Oracle nodes collect and process price information from the external environment, discard outliers, and report the results. Chainlink data is pooled, and the average value is published on-chain to ensure that cUSD remains securely pegged and accessible even during volatility or extreme load.

With the integration of Chainlink infrastructure, cUSD is prepared for inclusion on a wide range of DeFi platforms. Automated market makers, lending platforms, and yield farming systems, which rely on reliable and trustworthy pricing data, can now readily integrate with cUSD.

Moreover, Chainlink’s programmable oracle enables real-world events to trigger smart contract transactions. CapMoney plans to optimize settlement and adjust collateral requirements, thereby expanding the possibilities for using cUSD even further.

The integration benefits cUSD not only by providing operational stability but also by setting a benchmark that other stablecoin issuers on Ethereum should follow in pursuit of sustainable development.