Bybit and Chainlink Integration
Bybit is proud to announce the integration of 35+ Chainlink Price Feeds — the industry standard for decentralized price data across the DeFi ecosystem — in its Spot trading platform on the Polygon mainnet.
Traders now have access to high-quality, decentralized price data feeds for high-volume Spot trading pairs. Here’s how the integration of Chainlink Price Feeds value-adds to Bybit’s Spot trading platform:
High-Quality Data: Chainlink Price Feeds source data from numerous premium data aggregators. Leading to price data that’s aggregates from hundreds of exchanges, weighted by liquidity depth and cleaned from outliers and suspicious volumes.
Secure Node Operators: Chainlink Price Feeds are secured by independent, security-reviewed. Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers and traditional enterprises. With a strong track record for reliability, even during high gas prices and extreme network congestion.
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 the oracle network.
Price volatility across a wide range of trading pairs is a given for any exchange platform, decentralized or not. This makes it important to continuously improve on the overall price stability and exchange rates for digital assets. The integration of Chainlink Price Feeds adds a crucial level of dependability and decentralization for calculating Spot indices. Additionally, the volume-weighted, aggregated price data helps improve Bybit’s back-end pricing mechanism and Spot price outliers.
Overall, this enhances the reliability of Bybit’s Spot trading platform, giving traders extra confidence and the ability to execute trades in real-time market conditions, as well as an additional layer of protection during extreme market events.
About Chainlink
Chainlink is the industry standard for building, accessing and selling oracle services needed to power hybrid smart contracts on any blockchain. Its 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 Bybit
Bybit’s mission is to empower crypto believers to achieve their dreams — let their passion fuel your dreams.
They built Bybit with the passion to help crypto believers achieve their dreams and their freedom.
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