We’re excited to announce that Tesseract— a provider of technology-enabled crypto yield products for institutions —has integrated Chainlink Price Feeds on Ethereum mainnet to their DeFi product. By integrating the industry-leading decentralized oracle network, Tesseract has access to high-quality, tamper-proof price feeds utilized for managing their actively managed DeFi yield product. This will provide our DeFi product management with better risk monitoring and strategy profitability tracking capabilities, with stronger assurances that price levels and liquidity can be monitored as accurately as possible.
Our initial integration involves the use of Chainlink Price Feeds of all major DeFi tokens on Ethereum. We chose Chainlink as our go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. Chainlink already helps secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.
Tesseract has extensive experience and a proven track record in developing and deploying profitable low-volatility DeFi strategies. Based in Finland, it is regulated by the Finnish FSA and backed by top investors in crypto and traditional finance. Tesseracts Managed DeFi yield product offers market-neutral returns on blue-chip assets by deploying them into different yield farming strategies in DeFi, including lending protocols, liquidity pools and staking nodes. Strategies are managed actively utilizing a rigorous proprietary risk framework.
To help secure our daily monitoring accuracy, we needed access to fresh asset prices that are supplied on-chain directly in a highly reliable manner. Fair market prices should reflect a volume-weighted average from all trading environments. Thus, we needed to make use of an oracle network to fetch aggregated price data off-chain and deliver it on-chain to be consumed by our application.
After reviewing various oracle solutions, we integrated Chainlink Price Feeds because they provide a multitude of critical features such as:
“Reliable tracking of profits and risk levels on current positions in our strategies is essential. I’m excited that with Chainlinks on-chain price feeds we can now secure our real-time portfolio monitoring more reliably” – Daniel Stafford, DeFi Portfolio Manager
Chainlink is the industry-standard Web3 services platform that has enabled trillions of dollars in transaction volume across DeFi, insurance, gaming, NFTs, and other major industries. As the leading decentralized oracle network, Chainlink enables developers to build feature-rich Web3 applications with seamless access to real-world data and off-chain computation across any blockchain and provides global enterprises with a universal gateway to all blockchains.
Tesseract is a Finland FSA-regulated digital asset innovator lending company headquartered in Helsinki, providing yield-generating solutions to institutional clients, such as cryptocurrency trading platforms and custodians, globally. Our plug’n’play yield platform, Earn API by Tesseract, enables partners to automatically offer their customers a full suite of crypto financial products tailored to specific risk strategies. Since our founding in 2017, we have a track record of rigorous risk management, innovation, and profitable growth. In June 2021, we raised a 25 MUSD Series A to supplement our scaling up. We are recruiting and are always excited about meeting new talent. Learn more at https://tesseractinvestment.com/.