API3 has announced a new partnership that demonstrates the integration of their Oracle Stack with Ionic’s money market protocol on the Mode network. This collaboration aims to redefine liquidity provisioning and utilization within DeFi by combining Ionic’s financial engineering expertise with the data integrity assurance provided by API3’s Oracle Stack.
Ionic, with its decentralized, non-custodial money markets per-asset protocol primitive, is dedicated to ensuring user fund safety and efficiency. The protocol prioritizes strong security, privacy, and an unprecedented failsafe system for managing decentralized funds.
This partnership signifies a joint effort to promote financial technology and expand capabilities for safe, decentralized money markets.
The integration of API3’s Oracle Stack enables Ionic to utilize a range of tools and services that enhance the functionality and appeal of its platform. The Oracle Stack provides reliable, real-time data feeds that are crucial for the accurate functioning of financial protocols like Ionic. This is essential for maintaining competitive interest rates based on real-time market liquidity, while efficiently fulfilling liquidity demand.
Ionic is a decentralized, non-custodial money market protocol that leverages comprehensive security monitoring and failsafe systems to ensure user safety. The availability of a variety of assets, including Loan Repayment Tokens (LRTs), Loan Security Tokens (LSTs), and mainstream cryptocurrency tokens, makes Ionic unique in its functional design. Additionally, a unique revenue-sharing program shares part of the protocol’s profits with users, aligning interests between the platform and its community.
Ionic also offers financial innovation through “one-click looping,” making the process of taking leveraged positions more accessible to the average user. This new feature, combined with the premium data stream of API3’s Oracles, enables more user-friendly and efficient trading strategies.
In a tweet, API3 expressed excitement about the collaboration with Ionic, highlighting the use of the API3 Oracle Stack to power LSTs on their money market protocol on the Mode network.