Cryptex Finance Unveils Cryptex V2 Powered by Chainlink’s Total Market Cap Feeds

Published on: 16.06.2023

Cryptex Finance Unveils Cryptex V2 — A Revolution in Decentralized Perpetual Markets, Powered by Chainlink’s Total Market Cap Feeds.

Cryptex Finance announces a significant leap forward in DeFi with the launch of Cryptex V2, their decentralized perpetual markets platform. They’ve integrated Chainlink’s Total Market Cap Data Feeds, making Cryptex V2 the only decentralized platform that enables DeFi users to long or short the entire Crypto Market Cap with up to 20x leverage.

Developed on Perennial’s infrastructure and backed by Chainlink data feeds, available exclusively on the Arbitrum network, Cryptex V2 offers unprecedented functionality in a secure, trustless setting.

Their initial integration of Chainlink Oracles into Cryptex V2 has enabled us to provide reliable and transparent price feeds, assuring users they are accessing accurate and up-to-date data.

Expanding Cryptex V2 With Chainlink Oracles

  • High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that’s aggregated from hundreds of exchanges, weighted by volume, and cleaned from outliers and suspicious volumes. Chainlink’s data aggregation model generates more precise global market prices that are resistant to API downtime, flash crash outliers, and data manipulation attacks like flash loans.
  • Secure Node Operators — Chainlink Price Feeds are secured by independent, 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 the data provider or the oracle network.
  • Transparency — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.

About Cryptex Finance

Cryptex Finance is a multi-network DeFi protocol. The protocol uses Ethereum smart contracts, Perennial derivatives vaults, and Chainlink data oracles to help provide secure and decentralized software for users. Available on Arbitrum.

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.

SOURCE:

https://medium.com/cryptexfinance/cryptex-finance-unveils-cryptex-v2-a-revolution-in-decentralized-perpetual-markets-powered-by-908496702812

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