Bicononomy Integrates Chainlink Price Feeds to Enable Gas Payments in Various Cryptocurrencies.
Biconomy is thrilled to announce that they are working with Chainlink to integrate Chainlink Price Feeds on the Ethereum and Polygon mainnet, enabling their system to calculate execution fees and rebalance their relayers based on the most accurate, up-to-date, and tamper-proof asset prices. As a multi-chain transaction platform planning to support all major blockchains, Biconomy consistently requires current asset prices so users receive fair market rates when paying for transactions in one cryptocurrency while underlying dApps and blockchain networks get paid in their native asset.
They decided to use Chainlink as their oracle provider because it’s price feeds are time-tested through volatile market conditions and widely used by leading blockchain projects. Chainlink Price Feeds have strong market coverage across all trading environments and are updated in a highly secure and reliable manner without central points of failure. It’s why Chainlink Price Feeds protect tens of billions of dollars in value for DeFi and have proven resilient during times of extreme market volatility and network congestion.
About Chainlink
Chainlink is the industry standard oracle network for powering hybrid smart contracts. Chainlink Decentralized Oracle Networks provide developers with the largest collection of high-quality data sources and secure off-chain computations to expand the capabilities of smart contracts on any blockchain. Managed by a global, decentralized community, Chainlink currently secures billions of dollars in value for smart contracts across decentralized finance (DeFi), insurance, gaming, and other major industries.
About Biconomy
Biconomy is the multi-chain transaction infrastructure for the next-generation Web 3.0 applications. Through Biconomy’s powerful and easy to use APIs, developers can enable a simple and customized user journey so that their end users don’t get frustrated by blockchain complexities. By solving key pain points at the crypto transactional layer, Biconomy is on a mission to bring the familiarity of web 2.0 to simplify Web 3.0 experiences that will drive mass adoption.
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