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Pundi X integrates Chainlink (LINK) to Power Its Platform Rewards

by TheCryptoDirt.com
May 17, 2021
in Chainlink
0

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  • Pundi X has built-in Chainlink worth feeds on its platform
  • Chainlink’s worth feeds will guarantee Pundi X’s platform rewards and reductions are distributed at truthful market values
  • Chainlink will even energy Pundi X’s worth feeds for belongings on its DEX utilizing high-quality knowledge for shares, ETFs, commodities, and indices

The blockchain-based funds mission and DeFi ecosystem of Pundi X has integrated Chainlink price feeds to energy its rewards system in addition to its numerous artificial belongings.

To start with, the Chainlink price feeds will be sure that Pundi X’s platform rewards and reductions are distributed at truthful market values. Secondly, Chainlink worth feeds will energy Pundi X’s artificial belongings on its Decentralized Change utilizing correct knowledge from shares, ETFs, commodities and indices.

Chainlink Has Confirmed to Be Safe With no Sudden Downtimes

The staff at Pundi X went on to clarify that their alternative of Chainlink was based mostly on the mission’s monitor file of delivering high quality knowledge with nearly zero downtimes or situations of assaults by way of flash loans. They defined:

We chosen Chainlink as our go-to oracle resolution as a result of it supplies high-quality knowledge utilizing time-tested oracle infrastructure that’s confirmed to safe tens of billions of {dollars} for main DeFi tasks.

Chainlink Value Feeds are well-known to provide correct and up-to-date asset costs reflective of worldwide markets, in addition to possess built-in resistances to quite a lot of sudden conditions like API downtime, flash crash outliers, and knowledge manipulation assaults by way of flash loans.

The staff at Pundi X went on to particularly spotlight the next 4 causes as to why they selected Chainlink price feeds.

  • Chainlink worth feeds are correct and sourced from quite a few knowledge aggregators and are immune to knowledge supply failures
  • Chainlink worth feeds are safe and have a powerful file of reliability. They’re secured by impartial, security-reviewed and Sybil-resistant oracle nodes run by ‘main blockchain DevOps groups, knowledge suppliers, and conventional enterprises’
  • The Chainlink community is extremely decentralized thus guaranteeing enough protections from downtimes
  • Chainlink has a powerful popularity and has a set of on-chain monitoring instruments to permit customers to independently confirm the community’s historic efficiency

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