Acurast-Yupana Finance: How Yupana Finance Uses Acurast For its Off-Chain Price Feeds

The past few years have seen Web3 be defined as a novel iteration of the web. However, we at Acurast see things slightly differently. We see Web3 as a frontier that can thrive off the gold of Web2 — data.

Acurast
3 min readNov 22, 2022

Essentially, these two versions of the web will always be connected, and our work since launch has been geared towards empowering the ecosystem with high-quality off-chain data. Thereby pushing decentralized applications and platforms towards fulfilling their innate potential.

Acurast, in pursuance of this, leverages cutting-edge technology and cryptography to make off-chain data accessible to all. As expected, our interoperable platform has resulted in several use cases, of which Yupana finance infrastructural provision ranks top.

What is Yupana Finance?

Yupana finance is a decentralized platform powered by a liquidity protocol developed to facilitate asset lending and borrowing. The assets, in this case, are digital, with the processes executed by smart contracts. Built for the Tezos community, the DeFi solution by Yupana Finance leverages on-chain and off-chain data to facilitate and participate in an effective blockchain loaning system.

On the platform’s loaning system, depositors provide liquidity and receive passive returns. On the other hand, Borrowers use digital assets worth more than the requested loan as collateral.

How Yupana Finance Uses Acurast

Yupana leverages Acurast for data, insight, and better exposure understanding in its high-risk decentralized niche. Acurast’s trusted execution environment (TEE) aggregates data to mitigate the blockchain insight gap for Yupana Finance.

Acurast takes the computational data burden off Yupana Finance using its verifiable data points managed and powered by its protocol-native, permissionless marketplace.

How does the process look like?

Yupana as a data consumer defines basically the following, so acurast can get started;

  • Data supplied by Acurast is sourced from different points. However, to effectively serve the data needs of Yupana Finance, Acurast transmitters execute requests by leveraging their technical SQL knowledge to get the finance-related from global public databases.
  • The data are sourced, structured and made ready for use by Yupana Finance on the Tezos blockchain.
  • To ensure the verifiability of the output, Acurast relies on so called Data transmitters. they process and compute the data in a trusted execution environment on their hardware.
  • The Acurast protocol is responsible to process the verified data and streamline it to the Web3 world where the off-chain data can now be used by yupana for their Defi Platform … etc.

Other Top use cases for Acurast

Acurast provides off-chain and computations for web3 developers to help them build without borders. The upcoming marketplace will integrates seamlessly into applications with the following use cases:

Value monitoring

Acurast provides real-time tracking of blockchain applications’ real-world value with data sourced from decentralized sources worldwide. The platform’s interoperability makes it suitable for web2 infrastructures like REST API, IoT, etc., while not compromising on its multi-chain first approach. With Acurast’s single abstraction layer, web3 platforms get to solve their off-chain data needs.

Data security

As a decentralized infrastructure, Acurast breaks away from the normative central database idea of web2. The permission-less marketplace vanguards a seamless experience that’s primarily premised on security. As a blockchain platform, Acurast is safe and secure for transmitters and developers. Both data consumers and transmitters don’t have to worry about security.

Data vending

Data vending is a massive web2 business model that is also successfully replicated in web3, thanks to Acurast. With the product, data-sourcing jobs are created based on developer needs, transmitters execute to precision, and rewards are transferred. The data vending marketplace on Acurast thrives thanks to the multi-chain infrastructure, which also doubles as a trusted execution environment.

Decentralized finance (DeFi)

Decentralized finance facilitates secure lending and borrowing of digital assets on smart contracts. With the global DeFi ecosystem growing rapidly in the past year, Acurast’s large-scale service provision plays right into an immediate application with dApps like Yupana finance for the supply of off-chain market data.

Conclusion

Individually, Acurast is a powerful platform that opens windows of opportunities for blockchain infrastructures. By leveraging Acurast, Yupana Finance has deepen its data pool, while leveraging insights from permissionless data to build its innovative features like its price feeds.

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Acurast

The Universe in Web3 — Data Delivered on Demand