API3 has announced a new collaboration showcasing the integration of their Oracle Stack with Ionic’s money market protocol on the Mode network. Together, this strategic collaboration promises to redefine the landscape of liquidity provisioning and utilization within DeFi, combining Ionic’s financial engineering expertise with the data integrity assurance provided by API3’s Oracle Stack.
Ionic – With its new primitive protocol for decentralized, non-custodial money market assets; Ionic is dedicated to the safety and efficiency of user funds. The protocol ensures this with strong security, privacy, and an unprecedented security system for managing decentralized funds.
This partnership also represents the shared goal of advancing financial technology and expanding capabilities for secure, decentralized money markets.
Powering decentralized finance with advanced oracles
API3’s Oracle Stack integration allows Ionic to use a variety of tools and services that enhance the functionality and attractiveness of its platform. Oracle Stack provides reliable, real-time data feeds essential to the accurate operation of financial protocols like Ionic, which dynamically adjusts interest rates based on real-time market liquidity.
This is important to keep rates at a competitive level that is attractive and sticky for users, while allowing the platform to efficiently meet liquidity demand.
We are excited to announce that @ionicmoney is using the Oracle Stack API3 to power LSTs on their money market protocol on @modenetwork 🟡
Ionic is a decentralized, non-custodial money market protocol that leverages comprehensive security monitoring and security systems to ensure… pic.twitter.com/0gxZUAbnP6
— API3 (@API3DAO) June 21, 2024
Finally, the availability of a variety of assets, from Loan Repayment Tokens (LRTs), Loan Security Tokens (LSTs), and traditional cryptocurrency tokens, makes Ionic unique in its functional design. Added to this is a unique revenue sharing program that shares part of the protocol’s profits with users and aligns interests between the platform and its community.
Ionic also provides financial innovation and what it calls “one-click loops,” a way to make the process of taking leveraged positions more accessible to the average user. This new functionality, combined with the premium data flow of Oracle API3, enables more user-friendly and efficient trading strategies.
