We’re excited to announce that Angle Protocol — a decentralized, capital-efficient over-collateralized stablecoin protocol — has integrated Chainlink Price Feeds on Ethereum mainnet. By integrating the industry-leading decentralized oracle network, we now have access to high-quality, tamper-proof price feeds needed to help enable our users to securely borrow agEUR tokens and access leverage on a wide range of assets, providing them with stronger assurances that collateralization ratios, liquidations, and fees are calculated using accurate price data.

Chainlink already plays a role in supporting our existing stablecoin infrastructure. We have decided to deepen our integration of Chainlink as our go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. Chainlink already helps secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.

Angle Protocol aims to create a sustainable money layer for blockchains. We are currently issuing agEUR, a Euro-based stablecoin. Our borrowing module helps expand our protocol as it creates another minting mechanism for Angle stablecoins. Specifically, the borrowing function uses a debt-based mechanism similar to the model used by MakerDAO to mint DAI but with some notable design improvements. Users can simply deposit ETH, wBTC, or other collateral onto the platform and borrow agEUR in a cheap and capital-efficient manner.

In order to help secure borrowing on our protocol, we needed access to fresh asset prices supplied directly on-chain in a highly reliable manner. Fair market asset prices should reflect a volume-weighted average from all trading environments. Thus, we needed to make use of an oracle network to fetch aggregated price data off-chain and deliver it on-chain to be consumed by our application.

On top of that, as our borrowing module was built to be cross-chain, we also needed our oracle solution to be scalable across different chains and layers.

After reviewing various oracle solutions, we integrated Chainlink Price Feeds because they provide a multitude of critical features such as:

• High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that’s aggregated from hundreds of exchanges, weighted by volume, and cleaned of outliers and wash trading. Chainlink’s data aggregation model generates more precise global market prices that are inherently resistant to inaccuracies or manipulation of any single or small set of exchanges.

• Secure Node Operators — Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises. Chainlink nodes have a strong track record of reliability, even during high gas prices and infrastructure outages.

• Decentralized Network — Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or oracle network.

• Reputation System — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical and real-time performance of node operators and oracle networks.

In the future, we also plan to integrate Chainlink Keepers to help automate our smart contracts in a highly secure, reliable, and decentralized manner.

“We’re excited to integrate Chainlink Price Feeds into our stablecoin protocol. Price Feeds provide the highest-quality data in the industry and are critical to helping secure borrowing on our protocol.” — Pablo Veyrat, Co-founder of Angle Protocol.

Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offersChainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.

Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link. To discuss an integration, reach out to an expert.

Angle is an over-collateralized, decentralized and capital-efficient stablecoin protocol.

It has launched agEUR, the biggest decentralized Euro stablecoin in the market on Ethereum mainnet.

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