Chainlink Keepers Goes Live on Mainnet, Attracts Top Projects in DeFi

DeFi Giants Aave, Synthetix, Bancor, Barnbridge, PoolTogether, Alchemix Will Use Chainlink Keepers to Automate and Decentralize Smart Contract Functions & Maintenance

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Chainlink

Aug 05, 2021, 13:00 ET

SAN FRANCISCO, Aug. 5, 2021 /PRNewswire/ -- Today, Chainlink Keepers, a Decentralized Service powered by the Chainlink Network, is now live on the Ethereum mainnet. Chainlink Keepers expedites hybrid smart contract innovation by giving developers access to secure and reliable off-chain computation services. Using Chainlink Keepers, developers don't need to perform manual processes, rely on centralized services, or implement deep protocol changes in order to automate on-chain functions around predefined conditions—they can simply outsource jobs to Chainlink Keepers.

"I and the entire Chainlink Labs team are excited to see Decentralized Oracle Networks rapidly going beyond the provision of off-chain data" said Chainlink Co-Founder Sergey Nazarov. "Providing a decentralized off-chain computation environment for smart contracts is a large step forward in what smart contracts can do and a sign of how hybrid smart contracts will be built in equal measure across blockchain networks and oracle networks like Chainlink."

Alongside Chainlink VRF and OCR, Chainlink Keepers marks a major upgrade in the array of off-chain computation services that hybrid smart contract developers can obtain through Chainlink Decentralized Oracle Networks (DONs), particularly for automating smart contract functions based on predefined conditions. Developers can create Keeper-compatible smart contracts that instruct Chainlink Keepers to validate various conditions using their Solidity code, then broadcast transactions with inputs computed off-chain to trigger on-chain functions. Keeper jobs can vary from implementing limit orders in exchanges, calling a yield harvesting function once a week at a specific time to more advanced use cases, such as calling a liquidation function when a user's loan is undercollateralized, keeping the protocol operating and decentralized.

Leading DeFi applications like Aave, Synthetix, PoolTogether, Barnbridge, Bancor, and Alchemix will integrate or are already using Chainlink Keepers to strengthen their protocols' uptime guarantees and automate critical on-chain functions in a highly reliable, fully decentralized, and cost-efficient manner.

Aave Co-founder Stani Kulechov said, "Chainlink Keepers is critical for securing user funds and maximizing the decentralization of the Aave protocol. The security provided by the Chainlink Network's oracle infrastructure has served the Aave protocol well, and now users of the Aave protocol can leverage Chainlink's off-chain service to participate in the Aave ecosystem as liquidators to secure the Aave protocol and its liquidity pools."

Chainlink Keepers uses a decentralized network of security reviewed and historically reliable DevOps teams that already secure tens of billions in value for the DeFi ecosystem via Chainlink Price Feeds. These nodes are selected based on a rotating jobs framework with built-in automated time-based failover to avoid rising costs for users due to competition for jobs. As a result, Chainlink Keepers ensures high uptime, low costs, decentralized execution, transparent reputation, and expandable computation.

If you would like to learn more about Chainlink Keepers, check out the release blog post or visit chain.link. You can also subscribe to the Chainlink newsletter and follow @chainlink on Twitter.

About Chainlink
Chainlink is the most widely used and secure way to power universally connected smart contracts. With Chainlink, developers can connect any blockchain with high-quality data sources from other blockchains as well as real-world data. Managed by a global, decentralized community of hundreds of thousands of people, Chainlink is introducing a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance and gaming ecosystems, among others.

Chainlink is trusted by hundreds of organizations to deliver definitive truth via secure, reliable data feeds. To learn more, visit chain.link, subscribe to the Chainlink newsletter, and follow @chainlink on Twitter.