Shade Protocol will be partnering with SupraOracles to bring a highly innovative oracle solution to Shade Protocol on Secret Network. SupraOracles architecture helps bring off chain data on-chain to DeFi applications such as Shade Protocol in a safe and secure way.

Oracles are systems of nodes and protocols that can be used to connect external data to blockchains and communication channels — providing interoperability between external data feeds and smart contracts. But not all Oracles are created equal. Current designs of Oracles and necessary cross-chain bridges have led to over $1.4B stolen due to DeFi Exploits last year (see here, here, here, and here). These attack vectors will continue to hamper the Web3 market — oracle solutions will continue to be targeted until a secure solution is enabled

About SupraOracles

SupraOracles is helping bring traditional capital markets and Web3 together in novel ways. The aim is to avail a cross-chain oracle to developers. The platform also makes it possible to provide real-world data to public and private chains, helping to enable secure interoperable smart contracts to power the future of financial markets. Developers also get the tools they need to seamlessly forge, launch, and manage data applications.

About Shade

Shade is made up of interconnected privacy-preserving DeFi apps built on Secret Network. Among their flagship products is Silk, an algorithmic stablecoin that hides transactional data by default. The same can still be revealed when there is mutual trust among the involved parties. As well as Silk, Shade is also looking into creating unique synthetic assets, which also hide transactional data by default.

🔽DETAILS:

https://medium.com/@shadeprotocoldevs/shade-protocol-partners-with-supraoracles-115677782657