Linear x Chainlink Price Oracles Integration
Linear Finance announced that they have successfully upgraded protocol’s oracle mechanism to Chainlink Price Feeds.
The users now have enhanced security and reliability guarantees that all Linear Finance synthetic assets will be minted, swapped, redeemed, and liquidated according to the most up-to-date and precise global market prices. This enables users to trade various cryptocurrencies and market indices with increased confidence, knowing that their funds are secured by an oracle infrastructure with a historical track record of reliability, even during times of high gas prices and extreme network conditions.
“We saw a need to scale our oracle solution to meet increased demand in data security from the growing platform adoption. The Chainlink integration is implemented in an authentic and trustless manner, instilling greater confidence in the Linear community during extreme market volatility,” said Drey Ng, Co-Founder of Linear Finance. “Chainlink Price Feeds ultimately provide our users with more robust assurances that all on-chain functions will consistently be in total synchronization with global financial markets.”
Their integration encompasses 18 different Chainlink Price Feeds, with the ability to quickly and securely scale up to more assets in order to meet platform demand. All of these Chainlink Price Feeds are running natively on Binance Smart Chain (BSC), enabling us to consume them at higher frequencies and at lower-costs, without cross-dependencies on other chains. This will lead to an enhanced trading experience that everyone can take part in.
About Chainlink
Chainlink is the most widely used and secure way to power universally connected smart contracts. With Chainlink, developers can connect any blockchain with high-quality data sources from other blockchains as well as real-world data. Managed by a global, decentralized community of hundreds of thousands of people, Chainlink is introducing a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance and gaming ecosystems, among others.
About Linear Finance
Linear Finance is a cross-chain compatible, decentralized delta-one asset protocol that allows users to get synthetic exposure to various assets, including cryptocurrency, commodities, and market indices. Users can utilize our cross-chain swap functionality to instantly swap assets across leading blockchain environments and DeFi protocols with unlimited liquidity and zero slippage.
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