Lendvest, a decentralized non-custodial protocol for fixed-term loans, has officially integrated Chainlink Functions, recognized as the industry-standard serverless Web3 developer platform on Polygon. Additionally, Lendvest is utilizing Space and Time as its ZK-proven data layer. Lendvest is leading the charge in improving capital efficiency within the decentralized finance (DeFi) lending sector. It introduces innovative strategies that are designed to optimize lending rates.
The DeFi credit score solution’s USP is its rate approach. It effectively incorporates Chainlink Functions to boost its ability to access and analyze important data, especially the ones pertaining to lending rates sourced from Aave, the leading liquid market on Ethereum. By leveraging Aave’s rates, Lendvest offers its users the best possible rates, emphasizing the median figures that exist between lenders and borrowers.
Lendvest protocol is designed to adjust the lending rate throughout the entire long term dynamically. It continues to retarget rates based on Aave’s median rate by offering fixed-term loans. Lendvest is capturing attention in the $32 billion DeFi lending market by providing users with competitive rates for lending, which start from one week and can extend even further.
Lendvest implements a system that pairs lenders directly with borrowers in one to one setting which is anticipated to improve capital efficiency significantly. The platform is also enhancing its operation by leveraging Space and Time, a zero-knowledge proven data layer that has integrated with Chainlink Function. This setup allows read/write capabilities, which are reliable and verifiable, from Ethereum to Polygon, while making sure the data used in calculations is accurate and in line across all protocols.
“We’re excited to integrate Chainlink Functions into Lendvest and leverage Space and Time as a ZK-proven data layer, a pivotal step in enhancing capital efficiency in DeFi lending. Functions significantly enhance the capabilities of our protocol and enable us to provide verifiable rates to our users using DeFi data from liquid markets on other chains.” — Joshua Gottlieb, Co-Founder & CEO, Lendvest.
How the Integration Ensures Capital Efficiency
Lendvest’s decision to choose Function was rooted in the latter’s solid security and proven reliability features. This choice comes from the fact that Functions operates on the same decentralization oracle networks that have processed around $16 trillion in on-chain transactions in the past. In addition, Chainlink Functions plays a crucial role in the De-Fi lending sector.
By integrating Chainlink Functions, Lendvest gains access to Ethereum data from Space and Time, validated through zero-knowledge proofs. This partnership allows Lendvest to perform verified computations and offer fixed-term rates to its users on Polygon. Further, Chainlink serves as Lendvest’s alternative data oracle and offers expansive connectivity, which allows smart contracts to connect with several other data sources, such as public and secured APIs.
Focused on customization and minimizing trust chain link functions, it aggregates and processes data through a flexible and scalable server-less environment managed by its decentralized Oracle Networks, often known as DONS.
To ensure robust and reliable operations, chain link functions prioritize security measures and provide a smooth environment and a comprehensive toolkit that enables them to create, test, and execute custom Javascript logic off the blockchain.
