Dafi Protocol has partnered with Razor network to explore integration of Decentralized Oracles.
This partnership will explore how the Razor network can provide real-time, accurate price feeds of cryptocurrencies to smart contracts in the Dafi platform.
Decentralized economies are built through inflation. Everything from Bitcoin to sophisticated DeFi platforms rely on inflation. However, by not adapting to changes in demand, it often leads to excess supply and hyperinflation.
The Dafi Protocol aims to solve this issue by transforming the staking and inflation model in Blockchain using demand-tied, elastic intermediaries. By creating a demand-bonded curve, DAFI will virtually eliminate the risks of hyperinflation. DAFI releases secondary, synthetic DFY’s, which are pegged to the value of the protocol. So the quantity of your DFY units changes in response to DAFI demand.
DAFI, not DeFi
One of the key missions of the Dafi is to unify blockchains and DeFi platforms. This is why any blockchain, cryptocurrency or DeFi application can use the Dafi Protocol to create their own version of xDFY, each pegged to their own native protocol token.
The Need For Decentralized Oracles
There is a salient need for accurate cryptocurrency price feeds for the DeFi applications built on the Dafi platform. Centralized Oracle services that offer this service are often at risk of hacks, single points of failure, and depend too much on human operators. This is where the integration with Razor Network enhances the efficiency and security of the platform.
Razor Network is a decentralized oracle providing data to the smart contracts using a network of stakers. Razor network is fast, robust, and offers a high degree of economic security due to its full-scale decentralization. As DAFI continues to explore decentralized oracle solutions, this partnership will be a cornerstone in ensuring platform efficacy.
Highlights of DAFI-Razor Network partnership
With this partnership, smart contracts on the Dafi platform obtain external price feeds for the supported tokens. Using Razor’s solution will ensure that the DeFi applications that are created in the DAFI ecosystem can always work efficiently and reliably, empowering DAFI to achieve its vision of creating a new spectrum of DeFi economies.
DAFI is a new inflation model for every decentralized economy
Hrishikesh Huilgolkar, CEO of Razor Oracle Network, said about the partnership “Dafi is creating the first alternative to simple token inflation through their demand-pegged model, which dictates how tokens are rewarded to stakers and liquidity providers. This will allow Dafi to create new DeFi ecosystems. We are glad that they have chosen to partner with us in this endeavor. Razor’s end-to-end decentralized Oracle system provides maximum game theoretical security, ensuring that their smart contracts always get reliable and secure external price feeds. We’re sure that our collaboration will help Dafi scale new heights in the DeFi space.”
Zain Rana, CEO of Dafi, added that, “DAFI was designed to reinvent the value model of how staking & liquidity is created. Inflation is the very DNA that almost every decentralized economy relies on, from Bitcoin and Blockchains to DeFi applications. We questioned this, and created DAFI, to migrate towards a demand-pegged model, that rewards early-users and makes hyperinflation impossible. Innovation like Razor, that creates decentralized eco-systems through network value, deeply sit within our own beliefs. This makes the partnership of DAFI and Razor an exciting journey. As we both have major milestones & public launches coming soon, the synergy is beautiful”.
DAFI is a blockchain protocol which avoids hyperinflation by using a demand-bonded curve to release synthetic #DFY units. Any Blockchain can create their own version of xDFY, each pegged to their own native protocol token. Please follow us on Github and Telegram for updates.
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