• Chainlink PoR is a Proof-of Reserve solution for financial transactions.
• OpenEden, a Web3.0 outfit, has implemented the Chainlink PoR infrastructure.
• The startup seeks to democratize access to US Treasury Bills and offers users a 5% interest rate per annum.
Chainlink’s Proof-of-Reserve Tool
Chainlink (LINK) is advancing its technological infrastructure for the Web3.0 world with its Proof-of-Reserve (PoR) solution. As the crypto industry’s most dominant oracle service provider, Chainlink’s influence has transversed both the blockchain world and the mainstream tech world. The Chainlink PoR is designed to help platforms dealing with funds monitor reserve assets in a reliable and timely manner with the aid of the Proof Not Promises innovation. Major protocols such as Circle, KPMG, Aave, BitGo, Paxos, and BitGet have adopted it fully.
OpenEden Business & Chainlink Role
OpenEden seeks to democratize access to some of the most secure financial investments in the world – US T-Bills. Stablecoin holders can mint TBILLS through the OpenEden TBILL Vault and earn a 5% interest rate per annum from their investments. To make this possible OpenEden has integrated @Chainlink’s Proof of Reserve which provides unmatched security and reliability while allowing users 24/7 instant settlement on chain with stablecoins.
Proof Not Promises Innovation
The Proof Not Promises innovation helps platforms dealing with funds monitor reserve assets in a reliable and timely manner using Chainlink’s PoR tool which can be integrated into existing systems for automated audits that provide unparalleled transparency to users in an era where blockchain-based entities are facing distrust from the public due to multiple implosions that occurred last year .
Adoption of ChainLink by Companies
Industry leaders use Chainlink’s PoR for its security, reliability and compatibility making it one of most used solutions in this space today as more protocols continue to adopt it fully including Circle, KPMG, Aave, BitGo, Paxos and BitGet among others
OpenEden’s integration of @ChainLink’s PoR shows us how far technology has come when it comes to providing secure investment opportunities backed by tools like @ChainLink’s proof of reserve that offer unprecedented levels of transparency when dealing with digital assets online