NASDEX Integrates Chainlink Price Feeds to Enable On-Chain Exposure to Traditional Asian Assets
NASDEX is excited to announce that we have integrated Chainlink Price Feeds on Polygon mainnet to bring secure and accurate price data on Asian-based stocks into the NASDEX trading platform. They will use these Chainlink-powered decentralized oracles to price synthetic assets on-chain, helping mitigate slippage during the minting, swapping, and redeeming processes as well as further securing fair liquidations.
By integrating Chainlink Price Feeds on Polygon, to have access to premium price data with frequent updates, high uptime, and no single points of failure. Chainlink Price Feeds have already proven to be highly accurate and resilient during periods of extreme market volatility, giving us great confidence in Chainlink as an oracle solution.
With Chainlink Price Feeds because they provide many key features such as:
- High-Quality Data — Chainlink Price Feeds source data from numerous premium data providers, leading to price data that’s aggregated from across exchanges, weighted by volume, and cleaned from outliers and suspicious volumes. Chainlink’s data aggregation model generates more precise global market prices that are resistant to API downtime, flash crash outliers, and data manipulation attacks.
- Secure Node Operators — Chainlink Price Feeds are secured by independent, Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability.
- Decentralized Network — Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.
- Transparency — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.
Josh Du, NASDEX Co-Founder — “Chainlink is simply best-in-class oracle solution, providing real-world data reliably to smart contract applications through its robust decentralized network design. The integration process was quick and allowed us to build our solution at an accelerated rate while not sacrificing on security.”
About NASDEX
NASDEX is the premiere decentralized exchange enabling the trading of Asian stocks on-chain. It is designed to serve as a bridge between the crypto world and the equity world. Its core benefits and differentiation includes stock yield enhancement through liquidity mining and special focus on Asian stocks. It’s product offering includes ETFs, indices, and additional asset classes and derivatives as well. A user friendly platform where investors could buy and sell tokenized equity as easily as crypto with 24/7 trading, fractionalized share buying, and yield farming.
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About Chainlink
Chainlink is a decentralized oracle network that enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments. If you’re a developer and want to connect your smart contract to existing data and infrastructure outside the underlying blockchain, reach out to Chainlink here. They can help you quickly and securely launch your data-enabled application or Chainlink Price Reference Data Contract on mainnet today. You can also visit the developer documentation or join the technical discussion on Discord. Learn more by visiting the Chainlink website or following them on Twitter or Reddit.
