Chainlink has introduced another noteworthy feature called Smart Value Recapture. As per Chainlink, Smart Value Recapture decreases the unnecessary reliance on 3rd parties and eliminates the requirement to integrate mediatory smart contracts. The platform took to social media to announce this development.
Chainlink Releases Smart Value Recapture Feature to Decrease 3rd-Party Dependencies
Chainlink mentioned that it has built SVR in partnership with Flashbots, BGD Labs, and the other Aave DAO contributors. The SVR reportedly lets decentralized lending protocols recapture MEV dealing with oracles from liquidations. It systematically minimizes the unrequired 3rd-party dependencies while removing the need for mediatory smart contract integration.
The SVR-enabled Price Feeds utilize Flashbots MEV-Share along with a unique “Dual Aggregator” contract architecture on-chain. In this way, they deliver improved fallback security and efficiency. At present, the SVR is in its testnet phase. However, the platform will shortly release it on the Ethereum mainnet.
SVR Aims to Offer Notably Decentralized, Cross-chain, and Configurable OEM Solutions
The platform asserted that the Chainlink SVR’s integration into the Aave community is going through governance approval. This move can reportedly promote the platform’s economic viability in the long run. Ultimately, it guarantees that the DeFi protocols can have persistent access to reliable and secure oracles. In the future, Chainlink SVR intends to transition into a considerably decentralized, configurable, cross-chain, and generalizable OEV solution.
According to Chainlink, SVR improves user experience with minimized third-party dependencies and no requirement for the integration of mediatory smart contracts. The platform focuses on making additional improvements to it. They take into account enhanced decentralization, cross-chain capabilities, improved gas efficiency, and a DON-based auction system. Overall it targets to deliver long-term economic viability, reliability, and security. This will potentially expand the financial sustainability in the DeFi sector to grow its wide-level adoption.
Source: https://blockchainreporter.net/chainlink-unveils-smart-value-recapture-to-streamline-user-experience/