FLOAT PROTOCOL INTEGRATES LEADING ORACLE SOLUTION CHAINLINK TO SECURE THE STABILIZATION OF FLOAT.
Float Protocol is announcing its live integration with market-leading oracle solution Chainlink. The initial integration involves Float Protocol leveraging the widely-used ETH/USD Chainlink Price Feed to power their monetary policy and price stabilisation mechanisms.
Float has selected Chainlink because it’s the most time-tested oracle solution in DeFi, supplying high-quality price data on-chain using decentralized oracle infrastructure that has proven resilient against various unexpected situations, such as API downtime, flash crash outliers, and data manipulation attacks via flash loans. This provides our users with superior guarantees around the security and reliability of FLOAT, making it a more trusted and stable form of internet-native money.
About FLOAT
Float Protocol is building the decentralised monetary system of the future. At the heart of the Protocol is the FLOAT token. FLOAT is designed to be stable and have significantly lower volatility than most cryptocurrencies, but its purpose is not to hold its price at $1.00 USD.
About Chainlink
Chainlink is the most widely used and secure way to power universally connected smart contracts. With Chainlink, developers can connect any blockchain with high-quality data sources from other blockchains as well as real-world data. Managed by a global, decentralized community of hundreds of thousands of people, Chainlink is introducing a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance and gaming ecosystems, among others.
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