🔮Oracles

Oracles are on-chain entities that bridge the gap between blockchain-based smart contracts and real-world data, such as cryptocurrency prices. They play a crucial role in ensuring that price feed data used by DeFi protocols is up-to-date, accurate, and tamper-proof. In the context of lending and borrowing, oracles provide the necessary price feeds that enable these platforms to determine collateral requirements, calculate interest rates, and execute liquidations when needed.

Bonzo Finance utilizes both Chainlink and Supra oracles for verifiable, tamper proof asset price feed data. Check out the educational article "The Role of Oracles in Decentralized Lending & Borrowing" to learn more about the world of oracles and their significance in DeFi lending and borrowing ecosystems.