Portal Finance Integrates With Chainlink Price Feeds
Portal — a cross-chain DEX that makes atomic transactions between Bitcoin and other digital assets fast, secure, and private — is integrating Chainlink Price Feeds. By integrating the industry-leading decentralized oracle network, Portal will have access to the most secure and high-quality price data feeds needed to reliably facilitate atomic swaps across the Bitcoin Network and other blockchains.
Portal’s Layer 2 and Layer 3 technology simplifies building censorship-resistant communications, media, and one-click execution of cross-chain transactions on top of the Bitcoin blockchain. It facilitates the private, off-chain execution of “smart contracts” for asset issuance, swaps, staking, liquidity, derivatives, and more. In every instance, the technology is peer-to-peer, without third-party custody or control.
By integrating Chainlink Price Feeds into Portal’s DEX network, they will be able to seamlessly provide cross-chain atomic swap functionality in a decentralized manner. Price data provided by the Chainlink Network is mission-critical because it helps ensure that when users are making a cross-chain transaction, they are getting prices that reflect broad market coverage. We believe this reduces friction for users and helps sustain liquid markets.
“Portal is excited to announce that it’s adopting Chainlink Price Feeds to enable Portal users to transact with peers in a reliable manner based on fair-market prices, helping reduce friction and ensure the oracle mechanism powering Protocol is fully decentralized. Going forward, we’re excited to continue leveraging Chainlink’s industry standard oracle infrastructure to help the Portal client app automate several transaction types such as limit orders and stop limits.”— Portal Executive Chairman Dr. Chandra Duggirala
As the Portal DEX expands its cross-chain atomic swap offerings, the wide range of Chainlink Price Feeds currently available makes scaling simple and efficient. Moving forward, the Portal is looking into leveraging Chainlink Keepers, a decentralized smart contract automation service, that can help reliably and cost-efficiently automate DEX order execution through limit orders, stop-losses, and more.
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.
ABOUT Portal Finance
Portal is DeFi built on Bitcoin. It makes trade unstoppable with anonymous, zero-knowledge transactions via the first true cross-chain DEX that’s trust-minimized. It eliminates minting wrapped coins (ie wBTC, wETH) or risky staking with intermediaries. With Portal, DeFi becomes a service that anyone can provide, maintaining anonymity within open, transparent markets with a security model as robust as Bitcoin mining.
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