Deviant Finance Integrated Chainlink Price Feeds on Avalanche
The Deviant Finance has integrated Chainlink Price Feeds on Avalanche mainnet. By integrating the industry-leading decentralized oracle network, Deviant Finance has access to high-quality, tamper-proof price feeds needed to fetch accurate pricing for our intrinsic value vaults, which helps their systems run in accordance with genuine market prices. This will provide their users with stronger assurances that our reserve currency model references highly secure and reliable price data.
Their initial integration involves the use of the following Chainlink Price Feeds: OHMv2/USD and OHM Index. They chose Chainlink as go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. Chainlink already helps secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.
“Using Chainlink Price Feeds enables our users to leverage battle-tested security in the DRCS!” — Dennis Ehmann, Deviant Finance Co-Founder
They are looking forward to expanding to other blockchains and using Chainlink technology along the way. Furthermore, they want to integrate Chainlink Price Feeds even deeper into systems for the additional security advantages, like AVAX/USD on Avalanche.
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.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link.
About Deviant Finance
Deviant Finance builds a novel store of value for decentralized systems. They developed an entirely new model called the DRCS (Deviant Reserve Currency System) which is a value-bound reserve that seeks a free-floating price that is backed by a wide range of assets.
You can find all relevant information about Deviant on deviant.finance or if you want to find out more about the DRCS you can do so in Documentation.
