BEYOND FINANCE USING CHAINLINK’S INDUSTRY-LEADING ORACLE SOLUTION TO PRICE SYNTHETIC ASSETS.
Beyond Finance is now using Chainlink Price Feeds — pre-built and time-tested decentralized oracle networks that provide on-chain price reference data for smart contracts across a variety of asset classes — to accurately and securely price all of our platform’s synthetic assets during the minting, swapping, redeeming, and/or liquidation processes. By integrating Chainlink’s market-leading decentralized oracle networks, our users will have greater confidence in the accuracy and credibility of asset prices used by the Beyond Finance platform.
Beyond Finance allows users to create and trade collateralized synthetic financial products that track the prices of the underlying assets they represent, such as cryptocurrencies, FOREX currencies, commodities, stocks, exchange traded funds (“ETF”), and more. As such, it is vital to ensure that Beyond users have access to premium quality data that’s securely, reliably, and transparently made available to our platform via an oracle network. This ensures that assets reflect the true global market prices during collateralization and trading processes.
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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