Perp88 Integrates Chainlink Price Feeds

Published on: 14.12.2022
Perp88 Integrates Chainlink Price Feeds

Perp88 — a decentralized spot and perpetual exchange — has integrated Chainlink Price Feeds on Polygon mainnet.

By integrating Chainlink, Perp88 now has access to high-quality, tamper-proof price feeds needed to determine asset prices used within spot trading, leveraged trading, and deposits or withdrawals within liquidity pools. This provides its users with stronger assurances that Perp88 uses the most up-to-date asset prices when facilitating trades or swaps.

Its initial integration involves the use of the following Chainlink Price Feeds: BTC/USD, ETH/ USD, MATIC/USD, USDT/USD, and USDC/USD. We chose Chainlink as our 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.

In order to help secure their spot trading, leveraged trading, and deposit/withdrawal features, they needed access to fresh asset prices that are supplied directly on-chain in a highly reliable manner. Fair market asset prices should reflect a volume-weighted average from all trading environments. Thus, they needed to make use of an oracle network to fetch aggregated price data off-chain and deliver it on-chain to be consumed by their application.

“Given their proven history of reliability and security, integrating Chainlink Price Feeds was a no-brainer for us. Chainlink Price Feeds are the standard for DeFi perpetual protocols, and there’s good reason for that.” — Jon, Product Lead of Perp88

About Chainlink

Chainlink is the industry-standard Web3 services platform. Enabled trillions of dollars in transaction volume across DeFi, insurance, gaming, NFTs, and other major industries. Chainlink enables developers to build feature-rich Web3 applications with seamless access to real-world data and off-chain computation across any blockchain. And provides global enterprises with a universal gateway to all blockchains.

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About  Perp88

Perp88 is a Decentralized Perpetual & Spot Exchange operating on Polygon.

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SOURCE:
https://medium.com/perp88/perp88-integrates-chainlink-price-feeds-to-help-secure-leveraged-trading-features-and-0-price-817eb09e9619

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