Plutos Network Will Be Integrated With Chainlink Price Feeds Oracle

Multi-chain DeFi synthetic investment hub built on Solana, Polkadot, and Binance Smart Chain, Plutos Network announced that they will be integrated with Chainlink Price Feed Oracle to Secure Synthetic Asset Platform. The initial launch is slated for Binance Smart Chain, but we plan to add support for Chainlink price feeds on Solana and Polkadot in the future.

By integrating Chainlink’s industry-leading decentralized oracle network, Plutos Network will have real-time, tamper-proof, and highly precise price feeds for a wide selection of cryptocurrency and traditional finance assets. They will use these Chainlink-powered oracles to price synthetic assets on-chain during the minting, swapping, redeeming, and liquidation processes.

Chainlink’s blockchain agnostic capabilities allows Plutos Network to integrate its battle-tested price feeds across many blockchains, amplifying the multi-chain nature and functionalities. Initially, Plutos will be integrating Chainlink Price Feeds for following crypto assets such as $BTC, $ETH, $SOL, $DOT, $BNB, $ADA, and more

“The integration of Chainlink Price Feeds into Plutos Network will be another good example of how Chainlink as the leading oracle provider is further supporting development of DeFi’s synthetic markets. Thanks to the advanced technologies of Chainlink, we can offer traders real-time pricing across a variety of asset classes for the best trading experience! Accurate price data is always critical for a synthetic platform like us, and by using Chainlink, we will have the perfect solution for it.”–Juan Capilla, CEO of Plutos Network

In the next phase, Plutos Network will integrate Chainlink price feeds for commodities, stocks, synthetics like futures contracts and options, and additional crypto assets. Price data is key to issuing/redeeming synthetic assets at fair market value based on the value of the supplied collateral, eliminating slippage on synthetic asset swaps, and maintaining full collateralization of all synthetic assets.

ABOUT PLUTOS PROTOCOL
Plutos Network is a multi-chain synthetic issuance & derivative trading platform which introduces mining incentives and staking rewards to users. By integrating blockchains such as Solana, Polkadot, and BSC, enabling on-chain and cross-chain liquidity and trading, Plutos Network is to offer users synthetic issuance and trading services for a wide range of synthetic products which are sustainable, profitable, and disruptive to the traditional derivative market.

ABOUT CHAINLINK
Chainlink is the industry standard oracle network for powering hybrid smart contracts. Chainlink Decentralized Oracle Networks provide developers with the largest collection of high-quality data sources and secure off-chain computations to expand the capabilities of smart contracts on any blockchain. Managed by a global, decentralized community, Chainlink currently secures billions of dollars in value for smart contracts across decentralized finance (DeFi), insurance, gaming, and other major industries.

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