do you even understand how next-level shit is about to get VERY soon?

[Anonymous No.55636428]

>This project demonstrates how to automate preventing DeFi liquidations & optimizing interest rates on multiple blockchains using Chainlink CCIP, Chainlink Automation and Chainlink Functions

>Managing multiple DeFi positions is hard.
>Managing multiple DeFi positions on multiple protocols is even harder.
>Managing multiple DeFi positions across multiple blockchains was impossible.

>Until now! Meet the cross-chain liquidation protection and interest rate optimizer powered by Chainlink CCIP.

>End-user has debt positions on multiple protocols/chains (e.g. Benqi on Avalanche, Compound on Polygon, etc…). They keep all their liquidity safely in a vault on one chain (e.g. Aave on Ethereum). On each chain where the user has a debt position (e.g. Avalanche and Polygon), Automation monitors the debt ratio. If Automation detects that any of their loans approaches the liquidation threshold (e.g. Benqi on Avalanche), then Automation sends a CCIP message to the user’s liquidity chain (e.g. Ethereum) to request remediating action (Send funds. Fast!).

>When the user’s contract on the liquidity chain receives the CCIP message, it withdraws liquidity from Aave and sends a new CCIP message back to Avalanche with the funds. That message includes enough information and tokens to fund the right position and avoid liquidation.

>Result: The User can have debt positions on multiple chains while still keeping liquidity on a single chain.

>Monitor bot smart contracts can be deployed and configured using Chainlink Automation. Currently available are:
>MonitorAaveV2
>MonitorAaveV3
>MonitorCompoundV2
>MonitorCompoundV3

[Anonymous No.55636452]

thread theme song

https://www.youtube.com/watch?v=hyR-uWorzx8

[Anonymous No.55636466]

>contract MonitorAaveV3 is
>AutomationCompatibleInterface,
>CCIPReceiver,
>Withdraw
>{
>* If Health goes below 1, a portion of the user's collateral can be liquidated.
>* Health > 2 : Green
>* Health < 1.99: Orange
>* Health <1.1: Red
>* Health < 1, liquidation will occur

we're gonna be so filthy rich aren't we?

[Anonymous No.55636467]

>>55636428
explain this to me like i'm retarded and uneducated

[Anonymous No.55636471]

>>55636428
degening on a whole another level huh

[Anonymous No.55636477]

*dumps*

[Anonymous No.55636493]

>Result: The User can have debt positions on multiple chains while still keeping liquidity on a single chain.
You can already do this, just need to bridge borrowed assets afterwards. A better way to quantify this would be that you can open positions on multiple chains using collateral on a single chain. Why does this mater? Well imagine all of your collateral was on ETH mainnet and you had assets borrowed on fantom when multichain rugged - suddenly you are not only safe from the depegged stables, you actually profited because the debt you owe just took a nice 70% haircut! In most situations though, this provides confidence that you don't need to post collateral on lesser chains.

[Anonymous No.55636958]

>link 2020: $7
>link 2023: $7
Kek congrats on this baggies. Linksters are the biggest copers on the board

[Anonymous No.55637091]

>>55636467
You wouldnt understand, youre retarded and uneducated.

[Anonymous No.55638112]

This is revolutionary, wow, checking the price

[Anonymous No.55638138]

>>55636958
bro we know link was a 15 yr hold when we bought it at least the smart ones did so there's nothing you can say that will make me sell. come back in 10 years and if price hasnt gone up then I'll worry.

[Anonymous No.55638236]

>>55636467
Hi anon, can i borrow 10 dollars, i pay you back tomorrow and buy you a coffee!
>thanks heres 10 bucks, but could i just hold onto something of yours in case you forget, i'll miss my morning coffee i you dont pay on time, and i'm a bad morning person.

sure here is my cheap watch that is worth 15 dollars.

Welcome, anon, to the overcollateralized debt obligation, the collateral is the watch, its over because the value of the watch (15) is greater than the value of the loan (10)

Unfortunately, the prices of underlying assets can change, say the watch ran out of batteries, decreasing its pawn shop value to $8. This is a liquiditation scenario, for why would the borrower repay, when they could just leave the watch and be up $2?

Optimizing your debt positions to minimize the overcollateralization rate required can be very hands on, require a high degree of reflexivity, and, when cross chain, inherits alot of extra security considerations that one has to factor in.

I haven't read the security, but the idea that you can secure your collateral on mainnet for a debt position on an L2 is fasinating, the reverse situation would likely come at a discount, finally pricing l1 l2 security differentials. Though I'd wonder if these contracts just wont inherit from the lowest security chain anyways by weakest link attack structures.

So now you can seem more protected, more organized and more ready to respond quickly to preserve your capital

[Anonymous No.55638250]

>>55636428
Based knower

[Anonymous No.55638284]

Finally some high quality shit here. Thanks anons

[Anonymous No.55638515]

>>55638138
Why do you bother answering these annoying-fly type comments? Ignore please.

[Anonymous No.55638564]

>>55636467
Smart contracts currently are like finance for kids.
CCIP brings us a huge leap closer to the adult world.

[Anonymous No.55638567]

token needed for sergey to pay wages.
with their 700 mostly women employee company (100 of them work as HR for a remote software company KEK) they created a product named CCIP. Linkfaggots called it fourth industrial revolution, in reality it's making $30 per day. KEK. Seethe and cope and dilate link faggots. Continue to buy so sergey can pay his mistresses.

[Anonymous No.55638582]

>>55636452
WRONG.

Kids Incorporated

https://m.youtube.com/watch?v=JueL9zXEwjE&pp=ygUzS2lkcyBpbmNvcnBvcmF0ZWQgc2F5aW5nIHNvcnJ5IGRvZXNudCBtYWtlIGl0IHJpZ2h0

[Anonymous No.55639404]

>>55638138
I know Link was a long term hold but 10-15 years???

[Anonymous No.55639422]

>>55636428
>the year is 2041
>Chainlink serves as the backbone for literally every aspect of daily life
>there are no more partnerships that COULD be announced as every major corporation is already publicly integrated with chainlink and operating nodes
>new developments are being made every single day to maximize the efficiency, speed, and accuracy of the oracle network
>the fourth industrial revolution, the singularity, the great reset... all of it was real: and every single datum, transaction, and contract is verified with chainlink.
>token price: $0.22
>24hr performance: -2.7%
>unstaking: soon
>then you wake up and realize it was just a bad dream
>Chainlink doesn't even exist in the future
>The Great Reset was dead on arrival and Chainlink went to zero in early 2025
>you own everything, you are very happy

[Anonymous No.55639463]

>>55636428
so I can get liquidated for all I have by simply connecting a shitcoin debt on a shitcoin chain in a shitcoin loan dapp to this thing?
Neat!

[Anonymous No.55639483]

>>55638236
Wow... thank you. We are going to be extremely wealthy aren't we

[Anonymous No.55639866]

>>55639404
Every one who owns link here is like 25-26 years old max, we have time

[Anonymous No.55640173]

>>55636467
we take software that worksand makes a lot of money for the owners and replace it with some blockchain bullshit where every failure scenario leads to our bankruptcy. bosses love this idea

[Anonymous No.55640195]

>>55636428
>user can have debt positions on multiple ghostchains

[Anonymous No.55640596]

>>55639866
28 zoomie
Some of us are old men

[Anonymous No.55640849]

>>55636428
am I a retard for only having 1k stinkers ?