LP Finance Begins Pushing Liquidation Alerts Through Notifi
LP Finance, a synthetic asset protocol on Solana, has integrated with Notifi Network (www.notifi.network) to provide push notifications to their users through methods like SMS and email.
In these turbulent markets, there is an incredible need to provide the tools and capabilities for traders the ability to make decisions as quickly as possible. With that in mind, text and email alerts were the most obvious ways to send and receive notifications for events happening on-chain. This feature addition leverages Notifi’s SDK to provide their users the option to receive notifications around different off-chain alerts.
With LP Finance’s platform, users can earn interest on collateral while borrowing interest-free. Advancing LP Finance’s Collateral Backed Stablecoin Protocol, users are able to leverage their positions, short sell cryptocurrencies, and use stable coin as a payment method. Notifi gives LP Finance a tool for their users to manage their notification preferences and filter what they want to be notified about.
LP Finance has goals to onboard the next generation of users to Solana. With push notifications from Notifi, LP Finance can help users be more aware of their activity within their dapp by alerting users around things such as liquidations and transactions. Rather than having to watch and monitor the health of your borrowing and finances within the application itself, users can now sign up to Notifi alerts to get notifications sent directly to their phone or email.
Over the past few days, the number of liquidations have surged. Below is a chart of liquidations for Aave, Compound, and MakerDAO. Since the chart doesn’t show UST or LUNA data, the actual increase in liquidation volume is drastically higher. As of May 11, there were $106M In Liquidations With 97% Crash in LUNA price. Most DeFi applications do not have a way to send out margin call alerts, so it is harder for users to manage risks compared to CEXs. With Notifi integrated within these dapps, users will have the ability to react against fluctuations and have an easier time preventing liquidations.
Daily liquidations of Aave, Compound, and MakerDAO (https://dune.com/dsalv/Liquidations)
About Notifi
Notifi is Twilio for Web3. Notifi simplifies communication across all Web3 messaging channels. The Notifi platform is designed with simple APIs for easy integration, and customizable, and advanced features for dApps and Web3 applications. Notifi empowers developers to better engage with their users via multichannel communications.
For more information, visit https://www.notifi.network/.
About LP Finance
LP Finance solves capital inefficiency in stablecoins by maximizing overflow collaterals. With a fully backed reserve pool, there are no risks for generated synthetic assets to de-peg for the asset. Borrow lpUSD, lpSOL, lpBTC, and lpETH “Interest-Free” while earning supply rewards on your collateral with LP Finance.
For more information, visit https://lp.finance
