Xocolatl Integrates Chainlink Price Feeds
Xocolatl— a pioneering decentralized stablecoin for the Mexican peso—has integrated Chainlink Price Feeds on Polygon mainnet. By integrating the industry-leading decentralized oracle network, Xocolatl has access to high-quality, tamper-proof price feeds needed to help mint XOC and keep it pegged to the Mexican Peso. This will provide our users with stronger assurances that the Xocolatl Protocol mints the right amount of tokens based on the value of the collateral that backs the stablecoin.
Their initial integration involves using the following Chainlink Price Feeds: USD-MXN and ETH-USD on Polygon. They also plan to use the same price feeds on Ethereum and Gnosis Chain. They chose Chainlink as their go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. Chainlink already helps secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.
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.
About Xocolatl
Xocolatl is the first brick in the Mexican DeFi ecosystem. The XOC token is an ERC20 token that serves as money lego to enable new decentralized financial opportunities. By keeping 1:1 parity with the Mexican peso, people denominated in Mexican pesos can participate in DeFi too.
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