Sypool x Chainlink Price Feeds Integration

Published on: 08.12.2021

Sypool, a synthetic asset management protocol on Solana, is integrating Chainlink Price Feeds to access high-quality, tamper-proof oracles for pricing on-chain indices that represent various buckets of cryptocurrencies.

Several pools with different strategies will be provided to users, such as:

  • Index-trading SAP — tracks an index typically made up of selected tokens.
  • Trader-based SAP — a pool of assets selected and traded by fund managers.
  • Quantitative trading SAP — uses a large number of different technical indicators to find current market trends and make directional investments based on those trends.
  • Structured yield fund — tracks the performance of other SAPs, but returns are varied by risk.

For synthetic asset management protocols such as Sypool, it’s critical that fund managers are able to access real-time data with wide market coverage in order to price indices and make timely, precise adjustments to asset positions. This ultimately helps ensure pools increase their yield and reduce unnecessary losses, given they are more in tune with global market prices.

“As a team of traders, we know exactly how important it is to get precise and timely price data when creating financial products. Integrating Chainlink Price Feeds makes Sypool more professional and reliable by allowing us to avoid the costs associated with inaccurate prices, ultimately leading to increased fund returns for users.” — Jackson, Co-founder of Sypool.

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.

Sypool is a synthetic asset management protocol on Solana, where investors exchange our fund shares with their tokens (i.e. BTC, ETH, SOL…). Like traditional funds, investors are offered professional financial services, while fund managers have a platform to raise money (tokens). However, our fund managers not only have traditional ways (Buy low, Sell high) to earn yield for our investors, they have more “blockchain” ways to benefit fund shareholders.

📰 INFO

https://sypool-protocol.medium.com/sypool-is-integrating-chainlink-price-feeds-on-solana-to-optimize-fund-management-services-a18666948943

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