The crypto exchange platform based in the United States Coinbase suddenly adds the support for a decentralized finance loan protocol built on Ethereum (ETH) and the base.
In a new announcement, Coinbase claims that he adds support for borrowing and loan of the Morpho project (Morpho), causing an increase in the price of digital assets.
The news of the addition sent Morpho flying while the cryptographic asset went from a hollow of $ 2.05 on February 27 to a peak of $ 2.42 just a day later. Morpho has since stabilized and has been negotiated at $ 2.21 at the time of writing, a gain of 7.9% in the last 24 hours.
Morpho, who was launched in 2022, says that he uses an oracle-activation pricing model, which means that it will not be linked to a specific data supply source, according to his official white paper.
“External price flows, often called oracles, have various conceptions with different precision and security properties. For example, some oracles can provide frequent and precise price updates, but they can be considered too centralized or manipulable to be at the heart of a loan protocol.
To create more resilient loan primitives, some oracle -free protocols have directly incorporated the basic pricing mechanisms. However, in doing so, the primitive must simultaneously manage a trading and loan mechanism. This brings additional complexity, the increase in gas costs and the limitation of audit and safety.
Morpho is dedicated exclusively to loans rather than exchanges. Its objective is to become the most open and most effective loan of loan while operating in a without confidence. This is why the protocol has an oracle-activation approach rather than without oracle. »»
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