NASDEX Integrates Chainlink Price Feeds to Enable On-Chain Exposure
NASDEX is excited to announce that it has been integrated with 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.
NASDEX is a synthetic asset issuance protocol and decentralized exchange for traditional assets. Once the price data is on-chain, NASDEX users can leverage the collateralized debt mechanism to mint synthetic tokenized assets based on their current valuations. After being minted, the tokenized asset’s price would be kept in sync by Chainlink Price Feeds, which is important for swaps, redemption, and potential liquidations.
“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.”— Josh Du, NASDEX Co-Founder
NASDEX hopes to achieve is to enable on-chain exposure to more asset types from the traditional financial world. This will then allow users to access traditional asset markets from any geographical jurisdiction while also taking advantage of DeFi features like earning additional yield via staking.
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.
ABOUT Chainlink
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains
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