Smart contracts can’t access off-chain prices on their own. How are these prices brought on-chain?
First, what is it? The smallest unit of the LINK token is called a Juel, named after Ari Juels, one of the white paper’s authors.
How it works: DeFi protocols such as lending and derivatives rely on reliable price data to calculate collateral ratios and liquidations. If a price feed is wrong, it could trigger liquidations that shouldn’t happen.
$LINK is the token of the Chainlink network, used to pay for oracle services. The current price is 12.146.
Markets are always uncertain, so decide in advance what to do if your judgment is wrong.
First, what is it? The smallest unit of the LINK token is called a Juel, named after Ari Juels, one of the white paper’s authors.
How it works: DeFi protocols such as lending and derivatives rely on reliable price data to calculate collateral ratios and liquidations. If a price feed is wrong, it could trigger liquidations that shouldn’t happen.
$LINK is the token of the Chainlink network, used to pay for oracle services. The current price is 12.146.
Markets are always uncertain, so decide in advance what to do if your judgment is wrong.