Nest Protocol News
NEST Protocol and Trava Finance Team Up to Ensure Real-Time Price Data
Published10 months ago
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According to a recent announcement published on its Medium, NEST Protocol just partnered with Trava Finance. The goal of the partnership is for Trava to use NEST price feeds, provided by its decentralized oracle solution, in order to access nodeless, permissionless, secured price data needed to verify asset prices in the lending pool.
The value of the NEST/Trava partnership
NEST protocol is a well-known decentralized price oracle based on Ethereum. While not as big as Chainlink, the project is successfully finding its own clients in the vast and ever-growing DeFi market.
Trava Finance, on the other hand, is the world’s first decentralized lending marketplace that relies on an innovative model of offering multiple lending pools created by users. It also performs blockchain analysis to optimize pool parameters, calculate credit scores, and more. In doing so, it can increase profits while reducing risks for the users. Its lending operation is cross-chain, and it has a rather flexible mechanism thanks to which users can start entire lending businesses thanks to the amount of control over the lending pools that they have.
With that being the case, it is clear how and why Trava Finance could benefit from a partnership with a decentralized oracle network, where receiving accurate prices in real-time and without interruptions is crucial for providing a top-quality service. The NEST Oracle Model will assist in ensuring that the prices used by the project will reflect the global market situation. This will also ensure high security for the project’s lending pool, verify the pricing of assets in the protocol, and more.
With the two projects now partnered and cooperating, Trava Finance users will have a strong guarantee that the asset prices are supported by NEST’s decentralized foundation. Thanks to NEST that means that all prices will feature stability, which will lead to reduced risks. They will also have the accuracy, so users will know that the pools will always reflect the real market price. Finally, the prices will also be resistant to attacks, as tampering with the values will come at a very high cost that most will not be able, or not willing, to afford.
How did the prices react?
Following the publication of the announcement, NEST Protocol’s native cryptocurrency, NEST, saw a significant price surge that took it from $0.0320 to $0.0345. The coin then saw a slight correction after such a sudden spike, which brought it down to its current price of $0.033.
Trava Finance, on the other hand, saw its native crypto surge from $0.00048 to the resistance level at $0.00051. Unfortunately, the level was too strong for the token to breach it, but there is definitely a desire to grow there, as the token made as many as three attempts to breach the resistance in the last 24 hours alone. This indicates that any weaknesses in the bear market are likely to allow the TRAVA token to skyrocket way past this level.
To learn more visit our Investing in NEST Protocol guide.
Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.