Silo Finance, which happens to be a decentralized and non-custodial lending protocol, has formed an extremely favorable and mutually beneficial merger with Chainlink Price Feeds. However, this has been positioned on the Ethereum mainnet. Silo Finance is involved in the activities related to incorporating the lending markets, which do not offer any risk-related factors whatsoever. However, Chainlink has already proven helpful for the secured leading DeFi protocols responsible for tens of billions of transactions in smart contract value.
With the entity’s aim and intention, this merger occurrence will help make it reach a position wherein it can effectively harness all price-based factors, especially in all of the remote lending marketplaces. According to them, by joining up with the top-of-the-line decentralized oracle network, they will now be able to make highly advanced, fool-proof price feeds available for themselves.
All of this is absolutely necessary to ascertain that all activities related to finance-related operations are running smoothly and without any hiccups. There is also the important factor of overall clarity in every way. In the Silo Finance camp, the firm believes this useful merger will act favorably towards all its users, providing them with an assured and entirely secure environment. It also sends a positive message to the users that, from here on, the lending markets connected with Silo Finance will function in a clear and smoothly running way, even under adverse marketplace scenarios.
Source: https://www.cryptonewsz.com/silo-merges-with-chainlink-and-strengthens-financial-operations/