Bonzo Finance Has Integrated The Chainlink Standard for Verifiable Data on Hedera

Bonzo Finance, the leading decentralized lending protocol on Hedera, is proud to be the first to integrate the Chainlink standard for verifiable data on the Hedera mainnet. By integrating Chainlink Price Feeds, Bonzo Finance enhances its security and reliability, while strengthening its position as The Liquidity Layer of Hedera and helping support the rapid expansion of DeFi on the network.

Bonzo Finance is based on open source Aave v2 and offers lending, borrowing, and advanced DeFi strategies with support for HBAR, HBARX, USDC, and additional ecosystem assets, such as SAUCE, PACK, and KARATE. With DeFi growing significantly on Hedera, the Bonzo Finance protocol has a key opportunity to strengthen its position as a market leader and scale adoption. Providing secure markets is key to gaining user confidence and bringing liquidity to Bonzo Finance, making the integration of Chainlink Price Feeds essential for the protocol.

“Security and availability is paramount in DeFi, which is why Bonzo Finance chose to integrate the Chainlink standard for verifiable data on Hedera. Chainlink Price Feeds enable highly secure markets for HBAR and USDC, and support adoption and liquidity goals for the Bonzo Finance protocol.”— Brady Gentile, Co-Founder & CEO at Bonzo Finance Labs.

The Bonzo Finance protocol’s initial Price Feeds integration includes HBAR/USD and USDC/USD, with plans to integrate HBARX/HBAR soon. Chainlink was chosen as a preferred oracle solution for its seamless integration and time-tested in production. As the most widely adopted price data standard in Web3, Chainlink already helps secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.

Advantages of Chainlink Price Feeds include:

• High-Quality Data: Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that’s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes. Chainlink’s data aggregation model generates precise global market prices that are resistant to API downtime, flash crash outliers, and data manipulation attacks like flash loans.
• Secure Node Operators: Chainlink Price Feeds are secured by independent, security-reviewed oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.
• Decentralized Network: Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.
• Transparency: Robust, publicly available reputation frameworks and onchain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.

“We’re pleased to see Bonzo Finance integrate Chainlink Price Feeds to support secure lending markets and accelerate the adoption of DeFi. Highly accurate, reliable, and decentralized market data will help Bonzo Finance attract liquidity and grow the Hedera ecosystem,”—Thodoris Karakostas, Head of Blockchain Partnerships at Chainlink Labs.

“We’re excited to see Bonzo Finance integrate the Chainlink standard for verifiable data on Hedera, which will help bring liquidity to the rapidly expanding DeFi ecosystem as we execute on our 2025 growth strategy,” — James Hodgkins, Chief Growth Officer at The HBAR Foundation.