Poison Finance Integration with Chainlink
Poison Finance Integration with Chainlink, Poison Protocol is a Magic Wand that lets you create Multi Chain Synthetic Potions.
Poison has integrated with Chainlink Price Feeds in which they have access to high-quality, tamper-proof price feeds needed to help secure their mirrored assets. This will provide users with stronger assurances that pTokens reference secure and high-quality market data provided by battle-tested decentralized infrastructure. As Poison Finance announced their Integration with Chainlink.
The Integration
Poison Finance is a decentralized multi-chain mirrored assets issuance protocol built on Ethereum, Arbitrum, and BNB Chain. Potions (pTokens) are collateralized by stablecoins which are locked in the Vault Contract to enable the issuance of mirrored assets. Potions mimic the price behavior of real-world assets and give users anywhere in the world open access to price exposure of the underlying assets.
In order to help secure their mirrored assets, 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 our application.
About Poison Finance
A Magic Wand that lets you create Multi Chain Synthetic Potions that track the price of real-world assets. Synthetic Potions are intended to be used as fundamental building blocks in smart contracts, be it a dex or a game, and to bring the world’s assets to the blockchain. Serving Stocks, Commodities, and ETFs on Arbitrum, BSC, and ETH 24/7
About Chainlink
Chainlink is the industry-standard Web3 services platform. That has enabled trillions of dollars in transaction volume across DeFi, insurance, gaming, NFTs, and other major industries. As the leading decentralized oracle network. 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.
