Larix & Chainlink Price Feeds Integration
Larix is switching to Chainlink Price Feeds on Solana.
By integrating the industry-leading decentralized oracle network, Larix will have access to high-quality, tamper-proof price feeds needed to help calculate the collateral and borrowed asset values of users. This will provide users with stronger assurances that the platform is highly stable and secure.
After reviewing various oracle solutions, they selected Chainlink Price Feeds because they provide a multitude of critical features such as:
- High-Quality Data — Chainlink Price Feeds source data from numerous, premium, and independent data aggregators, leading to price data that’s aggregated from hundreds of exchanges, weighted by volume, and free of any outliers and wash trading. Chainlink’s data aggregation model generates more precise global market prices that are inherently resistant to inaccuracies or manipulation of any single or small set of exchanges.
- Secure Node Operators — Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises. Chainlink nodes have a strong track record of reliability, even during high gas prices and infrastructure outages.
- 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 either the data provider or the oracle network.
- Reputation System — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical and real-time performance of node operators and oracle networks.
“By using Chainlink Price Feeds to help calculate the value of collateral positions, we’re able to provide additional assurances to our users that their assets are secure. Chainlink has an unparalleled track record of securely delivering accurate data — no other solution is as battle-tested in production.” -Larix Founding Team
About Chainlink
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.
About Larix
Larix, the first Metaverse-based Finance Protocol on Solana, adopted a dynamic interest rate model and created more capital-efficient risk management pools, as such a broad selection of collateral types can be fully utilized in a safe way. Furthermore, the rewarding system based on a delicately designed token economy enables continuous incentive allocation to boost demands.
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