Canoe Finance Integrates Chainlink Price Feeds
Canoe Finance has integrated Chainlink Price Feeds on Polygon mainnet to Help Ensure Payment Services Reference Accurate Rates.
By integrating the industry-leading decentralized oracle network, Canoe Finance has access to high-quality, tamper-proof price feeds. Users will be more easily able to evaluate the prices of goods and services. And also have stronger assurances that those prices are globally accurate and reliable.
They chose Chainlink as its go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. Additionally, Chainlink already helps secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value. They maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.
Moreover, Canoe Finance is an accessible financial service for metaverse users. With a toolkit to help other protocols and websites integrate its DeFi services into their platform. Canoe Finance will continue to develop solutions for the gaming ecosystem and provide vital financial services.
In order to help ensure its payment services reference accurate market rates they needed access to fresh asset prices. Fair market asset prices should reflect a volume-weighted average from all trading environments.
Canoe Finance integrated Chainlink Price Feeds because they provide a multitude of critical features such as:
- High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data. That is aggregated from hundreds of exchanges, weighted by volume, and cleaned of outliers and wash trading.
- Secure Node Operators — Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes. Run by leading blockchain DevOps teams, data providers, and traditional enterprises. Chainlink nodes have a strong track record of reliability, even during high gas prices and infrastructure outages.
- Decentralized Network — Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or oracle network.
- Reputation System — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical and real-time performance of node operators and oracle networks.
About Chainlink
Chainlink is the industry standard for building, accessing, and selling oracle services. Providing smart contracts with a way to reliably connect to any external API and leverage secure off-chain. Chainlink currently secures tens of billions of dollars across DeFi.
About Canoe Finance
With “DeFi at your fingertips”, Canoe aims to provide an accessible financial service for the metaverse with one simple integration. Canoe Toolkit’s engine and DeFi’s aggregator make it easy to move between Web2 and Web3 portals.
