MakerDAO Integrates Chainlink Oracles into Keeper Network

The DeFi platform MakerDAO integrated decentralized Chainlink oracles into the Keeper Network, which supports the stability of DAI.

.@MakerDAO has onboarded #Chainlink Automation to its Keeper Network.

The addition of Chainlink’s highly performant & reliable automation service helps further stabilize the DAI ecosystem by decentralizing key network verification & maintenance processes.https://t.co/ims0nDdyK1

— Chainlink (@chainlink) February 9, 2023

Keeper Network is an automated system that interacts with external protocols to ensure parity of the stablecoin with the US dollar. The network monitors parameters such as price and the debt ceiling.

TechOps, Keep3r Network and Gelato Network are connected to the system.

“Adding Chainlink’s decentralized oracle platform to MakerDAO’s tech stack further stabilizes the DAI ecosystem by bringing more external participants into the verification and maintenance processes,” the statement said.

MakerDAO noted that the Chainlink Automation solution will perform certain tasks within the platform’s smart contract system, including price updates, liquidity balancing and raising the debt ceiling.

A total of 181 000 DAI has been allocated to support the oracles, to be routed into Keeper Network at 1,000 DAI per day.

The integration followed a governance vote in which the DeFi project’s community approved a package of changes. The package also included adjustments to the minimum debt size for several assets and the distribution of 109 048 DAI among 17 trusted delegates.

Earlier, MakerDAO participants put to a vote the proposal to create a liquidity market Spark Protocol as a competitor to the lending DeFi protocol Aave.