Top US-based crypto exchange platform Coinbase adds abrupt support for one decentralized finance (Defi) lending protocol built on Ethereum (ETH) and Base.
In a new announcement, Coinbase separate It adds support for borrowing and borrowing project Morpho (Morpho), which increases digital actively in price.
The news of the addition sent Morpho flying while the crypto -active went from a low of $ 2.05 on 27 February to a peak of $ 2.42 only a day later. Morpho has since stabilized and acts for $ 2.21 at the time of writing, a win of 7.9% during the last 24 hours.
Morpho, which was launched in 2022, says it uses an Oracle -agnostic Pricing Model, which means that it will not be bound by a specific data feed source, according to the official white paper.
“External price feeds, often called oracles, have different designs with different accuracy and security characteristics. For example, some oracles can offer frequent and accurate price updates, but they can be considered too centralized or manipulable to be in the core of a credit protocol.
To create more resilient credit primitives, some Oracle-Less protocols directly recorded the price mechanics in their core. However, by doing this, the primitive must handle both a trade and a credit mechanism at the same time. This entails extra complexity, increases gas costs and limiting auditability and security.
Morpho is exclusively devoted to loans instead of acting. The goal is to become the most open and efficient loans primitive and still work in a reliable way. This is why the Protocol has an oracle-agent approach instead of an Oracle-less. “
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Featured image: Shutterstock/Warm_Tail