Phuture Will Integrates With Chainlink

Phuture is thrilled to announce that Chainlink Price Feeds will be the de facto source of truth for asset pricing on Phuture. Phuture will be integrating 33 Chainlink Price Feeds as part of its mainnet launch, with plans to add more over time. Phuture will reference Chainlink’s industry standard Price Feeds when minting, trading, and redeeming crypto indices, as well as for calculating both the net asset value (NAV) of an index and the world state of the protocol.

Phuture allows users to mint and invest in indices that automatically rebalance based on market shifts. When minting an index, Phuture must calculate the NAV in order to appropriately allocate index shares to the user. Chainlink Price Feeds provide the most secure and reliable source of truth for determining this metric. Additionally, Chainlink Price Feeds will be used to modulate the prices at which swaps are executed.

“We are excited to bring Phuture’s aggregated indices model to DeFi, giving users more choices in creating custom index products. “By integrating Chainlink, we’re able to provide accurate prices with wide market coverage for all assets within user-created indices while still keeping costs low and retaining the highest amount of on-chain security and reliability.”—Oliver Mehr, Head of Product at Phuture

Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels to generate strong protections against downtime and tampering. These decentralized networks consist of highly reliable node operators and premium data sources.

ABOUT Phuture
Phuture is a decentralised protocol built for the creation and investment of token based passive investment strategies in a Web3 environment. Phuture introduces an open design philosophy for creating passive investment strategies, providing the tools for users to create new indices or invest into existing ones created by the community.

ABOUT Chainlink
Chainlink is the industry standard oracle network for powering hybrid smart contracts. Chainlink Decentralised 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, decentralised community, Chainlink currently secures billions of dollars in value for smart contracts across decentralised finance (DeFi), insurance, gaming, and other major industries.

RESOURCES
Medium