Qube Integrates Chainlink Keepers
Qube integrates Chainlink Keepers to help automatically re-calculate the value of staking rewards on the BNB Chain mainnet. By integrating the industry-leading decentralized oracle network, QUBE now has access to a secure and cost-efficient smart contract automation service that helps us automatically recalculate the value of staking rewards in QUBE.
The Qube DEX needs to periodically recalculate ROI based on market conditions and changes to interest rates for staking rewards. It has decided to leverage Chainlink Keepers to initiate the recalculation process every month because it would be too error-prone to have it initiated by a human. This keeps its users up-to-date with the value of staking rewards earned in QUBE, giving them a more transparent and consistent user experience.
Aside from that, its Chainlink integration does not change the user experience. The flexibility of its new infrastructure allows them to accumulate rewards regularly. Staked tokens can be unstaked and withdrawn at any time according to changes in interest rates on rewards.
Qube Crypto selected Chainlink as its go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production, giving users additional guarantees that our interest calculation mechanism will function exactly as intended.
Furthermore, Chainlink Keepers serve as a decentralized, hyper-reliable, and economically incentivized automation bot. Wakes up smart contracts when they need to perform critical on-chain functions. Usually take place at regular time intervals (e.g., every day at the same time) or based on external events (e.g., when an asset hits a specific price). Chainlink already helps secure tens of billions of dollars in DeFi, even during record levels of network congestion and extreme volatility.
“Chainlink Keepers are well-known in DeFi for being the most reliable and easy-to-implement smart contract automation solution. We could have used a manual solution for calculating staking rewards but this would have introduced centralization risks into the process. With Chainlink Keepers, we can securely automate the recalculation of staking rewards without taking on more risk”. — JQ, Founder
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. Leverage secure off-chain computations for enabling feature-rich applications.
ABOUT Qube Crypto
Qube is a multifunctional project offering a decentralized exchange for trading with DeFi. An IDO Launchpad to help new projects start their path in the crypto world, an NFT marketplace. The place where you can buy and sell different kinds of art, and play-to-earn games. Gives the opportunity to convert in-game assets and rewards into money.
