Chain Integrates With Chainlink
Chain integrates with Chainlink Price Feeds on Ethereum Mainnet to help calculate the value of staking rewards and governance tokens in USD.
By integrating the industry-leading decentralized oracle network, Chain has access to high-quality, tamper-proof price feeds needed to calculate the USD value of staking rewards earned in XCN — the native cryptocurrency and governance token for the Chain protocol.
Ultimately, this integration helps keep users informed about the value of their assets in USD as they accumulate XCN staking rewards.
Initial integration involves using the following Chainlink Price Feeds: XCN/USD. Chain chose Chainlink as its go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production.
Chainlink Provides Security
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.
Chain is a blockchain-based technology company. It also provides infrastructure software services for organizations that are building their products from the ground up. Moreover, The Chain’s native digital asset, XCN, has utility in the Chain ecosystem of products through staking, governance, payments, access, and fee discounts.
XCN is also the native governance token for the Chain Protocol, which hosts the Chain DAO. Members can vote on-chain for protocol improvements, community events, and grants. They can also stake their tokens to secure the network.
In order to access secure price data on Ethereum Mainnet, the Chain needed access to fresh asset prices that are supplied on-chain directly in a highly reliable manner. Fair market asset prices should reflect a volume-weighted average from all trading environments.
ABOUT Chain
Chain offers builders in the Web3 industry services that help streamline the process of developing, and maintaining their blockchain infrastructures. Chain implements a SaaS model for its products that address the complexity of overall blockchain management.
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. Leverage secure off-chain computations for enabling feature-rich applications.
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