2 years ago
The Open DeFi Notifications Protocol has integrated Angle, an over-collateralized, decentralized, and capital-efficient stablecoin protocol with 58 million in TVL at the time of writing.
Angle users can rest easy knowing that their positions are monitored 24/7 and that they will receive real-time notifications to help them manage their risk.
The Open DeFi Notification Protocol App is available on the Apple AppStore and Google Play.
The Open DeFi Notification Protocol by defi.org is a community led initiative to provide users with decentralized and free mobile notifications for on-chain events.
Angle can be used to issue stablecoins, called agTokens, designed to mirror the value of an asset they are pegged to. On top of its stablecoin products, Angle Protocol also offers ways to trade perpetual futures, earn yield from strategies, and get leverage on a wide range of assets.
One of the core features that Angle supports is dubbed “vaults”. Vaults allow DeFi participants to deposit liquidity in exchange for minting Angle stablecoins. Borrowing on Angle is based on a debt mechanism similar to the one used by Maker with DAI. However, with borrowing comes potential liquidation scenarios that must be managed to avoid losing posted collateral.
As we all know, the crypto market is very volatile. Extreme price movements can decrease the notional value of a collateral’s token or increase the value of the borrowed currency (or both), increasing the risk of liquidation. At times such as these, borrowers can experience sleepless nights, having to monitor their position status regularly.
Well, not anymore!
Using the Open DeFi Notification Protocol, Angle users can set up a “Position Health” notification which will issue an alert when your position gets close to your specified “Health Factor Threshold”. In this way, users have 24/7 monitoring of their position status and can take immediate action in order to mitigate the risk of liquidation.
The Open DeFi Notification Protocol is an open initiative to provide users with decentralized and free mobile notifications for on-chain events.
Angle joins other top DeFi lending protocols, such as Aave, Frax, and Alpaca Finance, supported by the Open DeFi Notification app, with liquidation risk notifications being one of the most popular use cases by the app users.
The addition of Angle makes for an impressive lineup of leading DeFi projects who have already been integrated into the Open DeFi Notification app for the benefit of their users, including among others: Aave, Uniswap, SushiSwap, QuickSwap, PancakeSwap and more…
All in all, the app supports over 20 protocols across 6 networks: Ethereum, BSC, Polygon, Fantom, Cronos and Avalanche!
The Protocol has been implemented fully by the Orbs network and will be executed by the Orbs Guardians, making this the 1st fully decentralized implementation of a notification protocol.
Become involved and contribute: https://github.com/open-defi-notification-protocol
Learn more about the Open DeFi Notification Protocol here.
Proudly born in the defi.org accelerator, join our Telegram channel for more updates!
Please Note
The Open DeFi Notification Protocol is a beta version that is still under active development, and all underlying digital assets, blockchain networks and DeFi platforms are also subject to ongoing development, and as such, the protocol or the underlying platforms:
(a) may contain bugs, errors and defects,
(b) may function improperly or be subject to periods of downtime and unavailability,
(c) may result in total or partial loss or corruption of data or a delay or a failure to send or receive expected notifications.
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