Degis and Chainlink Price Feeds Integration
Degis has integrated Chainlink Price Feeds on Avalanche mainnet. By integrating the industry-leading decentralized oracle network, Degis has access to high-quality, tamper-proof price feeds needed to settle the final results of token price policies. This will provide their users with stronger assurances that the final results of policies are accurate and reliable, and sourced in a decentralized and trust-minimized manner to continuously arrive at a fair-market price.
Degis is the next generation all-in-one protection protocol. Degis wants to completely disrupt the traditional insurance market and let those conservative guys out. Degis leverages blockchain technology to solve two key problems in the traditional protection market: excessive operation cost and non-transparent claims.
With plans to provide more types of token price settlement products, additional price feeds would be needed and are being actively considered. Additionally, a transparent service for random number generation is needed in their future treasury box product. Chainlink VRF is the industry standard solution for on-chain randomness, and we are currently waiting for the service to be available on Avalanche.
In the long term, Degis may benefit from expanding multi-chain and extending DeFi insurance to the larger blockchain ecosystem. Integrating Chainlink Price Feeds is a way of future-proofing their protocol to any chain expansion, as Chainlink’s blockchain-agnostic nature makes it extremely easy to port services over from one chain to the next.
“Chainlink provides all the common oracle services that a dApp may need. Its oracle service is the gold standard in the industry and is very friendly for developers to integrate. For parametric insurance products, a decentralized oracle is a critical component, so they choosing the best product in the market in Chainlink.” Andy, Founder and CEO of Degis.
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 Degis
Degis is the first decentralized protection protocol built on avalanche, which protects users from both on-chain and off-chain risks. The ultimate goal of Degis is to cover the whole avalanche system and then expand its arm to the whole blockchain field. Degis currently offers price protection on AVAX, ETH, and BTC, and will cover more tokens which are originally launched on Avalanche. In the future, Degis will launch more products like impermanent loss protection, smart contract protection and also protection aggregator which is more dynamic and influential in the entire system.
