With the live widget, users can now transfer their tokens between one of the over 60 supported EVM and Cosmos chains to use them on the protocol.

Axelar is a Web3 interoperability blockchain that facilitates cross-chain communication between more than 60 EVM and Cosmos chains in a flexible and programmable manner. Through smart contract capabilities, developers can swiftly deploy across the cross-chain network to all compatible chains within 10 seconds, attracting ten times the number of active users compared to other popular Web3 environments.

In addition to being programmable, Axelar is scalable and secure. When it comes to security, the blockchain employs the Proof-of-Stake (PoS) consensus mechanism for validation and reduces risks through advanced topology and application-layer measures such as rate limits.

Dev teams can use Axelar’s cross-chain communication for seamless user experiences. The Interchain Token Service (ITS) and Axelar Virtual Machine (AVM) enable ERC-20 tokens to be bridged across blockchains while maintaining their qualities.

ENTERING THE SQUID ROUTER

Powered by Axelar, Squid is a liquidity and messaging router. The service allows users to swap any token between EVM and Cosmos chains, unlocking access to dApps across blockchains in one click.

Developers find Squid valuable for its capability to design smooth user experiences by utilizing cross-chain liquidity from various DEXs and expanding accessibility to all crypto wallet users, irrespective of their blockchain. By utilizing Axelar’s throughput, security, and dependability, the router facilitates cross-chain swaps.

Bridge Tokens Across Chains with Squid’s Widget on Primex

Primex has integrated Squid’s widget, which enables users to seamlessly move assets between over 60 supported chains and utilize them on the protocol in a trustless way.

Token Bridge Guidelines

• To bridge tokens via the Squid widget, open the Primex app and connect your wallet to the protocol using one of the available options
• After that, select “Transfer via Squid powered by Axelar” and click the “Bridge” button next to it.
• On the next screen, connect your wallet to the service, select the source and destination blockchains (please note that Primex currently is deployed onto Ethereum, Arbitrum, and Polygon), the asset, and the amount, and initiate the transaction.
• Make sure to confirm the transaction via your wallet. After a couple of confirmations, your assets will be bridged to the destination chain so you can use them to lend or trade on Primex!

Primex Finance is a non-custodial prime brokerage protocol that enables the use of lender liquidity for leverage across other DeFi protocols to amplify yield, the uses cases include leveraged LPing, spot trading on DEXs, liquid staking and more.

FOLLOW Primex Finance

Website | X

FOLLOW Squid Router

Website | X

RESOURCES

Primex Finance

REQUEST AN ARTICLE

The post Primex partners with Squid appeared first on Smart Liquidity Research.

This comprehensive guide offers valuable insights into the Umbrella Network, providing all the necessary information you need to know.

Umbrella Network has eight live mainnet integrations, including Ethereum, BNB Chain, Arbitrum, Polygon, Avalanche, Solana, Linea, and Base. This makes Umbrella Network an ideal choice for blockchain oracles that require truly decentralized, highly scalable solutions.

Limitations of Blockchains in dApp Communication

While blockchains are a powerful tool, they are unable to communicate with the outside world on their own. This lack of communication means that dApps cannot use critical data from external sources like other chains, Web 2.0 applications, or real-world events. As a result, they do not have access to vital pieces of information, such as USDC’s current price, DAI’s supply APY on lending protocols, ETH’s 24-hour trading volume, or even the outcomes of a recent US presidential election.

Solving the Problem with Blockchains through Oracles and Umbrella Network

In dealing with this issue, blockchains use oracles – entities that allow dApps to retrieve data from off-chain data sources. Umbrella Network takes it a step further by utilizing a network of independent institutional and community validators. This network verifies the data, reaches consensus on its accuracy, and securely delivers it on-chain.

Umbrella provides customized and user-friendly solutions for data users, particularly Web3 dApps, to efficiently bring off-chain data to the blockchain. This is achieved through a decentralized network of validators. Umbrella’s service is particularly useful for projects requiring access to their records with specific parameters, including heartbeat and deviation triggers. By utilizing Umbrella, dApp developers can establish customized deviation triggers and heartbeat while minimizing modifications to their smart contracts.

How Primex Leverages Umbrella to Improve Its Trade Execution Efficiency

Primex has recently aligned with Umbrella to develop a bespoke on-chain solution, aimed at bolstering the operations of the spot margin trading protocol through enhanced Keeper incentivization. To cater to the specific requirements of Primex, Umbrella has created a custom gas Time-Weighted Average Price (TWAP) utilizing particular parameters such as a deviation threshold or heartbeat. This process involves a fully customized data collection and calculation methodology.

The solution is integrated on both Polygon and Arbitrum, guaranteeing precision through the collection of data at sample blocks and predetermined intervals, and organizing transactions based on their cost. This process involves eliminating the lower and higher deciles and calculating the average of the remaining transactions.

The TWAP calculation is executed repeatedly for every round, with each calculation being based on the previous 10 observations. If the deviation threshold is reached or the heartbeat interval elapses, the on-chain data is updated accordingly.

Enhancing Value for Users through Primex and Umbrella Collaboration

Primex’s Keeper network reward optimization is crucial to its success. Thanks to Umbrella’s custom gas TWAP, this process has become more streamlined, efficient, and effective. Not only does this solution enhance the protocol’s overall performance, but it also aligns perfectly with the community’s core values of decentralization, security, and transparency.

As Umbrella’s gas TWAP feeds have already been developed, they are scheduled to roll out on both Polygon and Arbitrum in early October.

FOLLOW Primex

Website | X

FOLLOW Umbrella Network

Website | X

RESOURCES

Primex Finance

REQUEST AN ARTICLE

The post Primex partners with Umbrella appeared first on Smart Liquidity Research.

Firstly, the Primex Integrates Chainlink. Primex — a decentralize prime brokerage protocol with cross-chain margin trading on a wide variety of DEXs — has integrated Chainlink Price Feeds on Rinkeby testnet. By integrating the industry-leading decentralized oracle network. They now have access to high-quality, decentralized, & tamper-proof price feeds needed to help power precise margin trading liquidations & on-chain stop-loss, take-profit, and limit orders.

Also they chose Chainlink because it is the industry-standard decentralize oracle network. Chainlink Price Feeds are widely adopted by standout DeFi protocols due to the service’s highly reliable and secure functionality. Already helping secure tens of billions of dollars, Chainlink Price Feeds are underpinned by multiple levels of aggregation at the data source, node operator, and oracle network levels to help protect against market volatility, single points of failure, and data manipulation attacks through flash loans.

Moreover, A hallmark Primex feature is cross-chain margin trading on DEXs. Lenders can provide their digital assets to Credit Buckets. Enabling traders to borrow across EVM blockchains and access margin trading within their preferred DEX. Lenders receive interest backed by trading fees and profits from successful trades. Borrowers have seamless access to a large pool of capital to accentuate their trades.

Key component 

A key component to building reliable & secure margin trading functionality having reliable source of price data on underlying assets being traded. The protocol must step in & liquidate the trader’s position at the appropriate time to help ensure that lenders remain solvent regardless of the trader’s actions. A highly accurate, reliable, and real-time source of price data is crucial to powering accurate and fair liquidations.

Furthermore, Primex facilitates trades across multiple DEXs, have their own native price data oracles based on their specific trading pairs. However, due to issues like flash loans & the inevitable price & liquidity differences between DEXs, a more robust solution was needed. With Chainlink Price Feeds, they’re able to access high-level. Also Aggregated price data that accurately represents the fair-market price of assets by accounting for liquidity, volume, outliers, and more.

A few standout features of Chainlink Price Feeds include:

• High-Quality Data

  — Source data from numerous premium data aggregators. Leading to price data that’s aggregated from hundreds of exchanges, weighted by liquidity depth, & cleaned from outliers & suspicious volumes. Chainlink’s data aggregation model generates precise global market prices that are resistant to API downtime, flash crash outliers, & data manipulation attacks like flash loans.

• Secure Node Operators

  — Secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams. Data providers, & traditional enterprises with a strong track record for reliability, even during high gas prices & extreme network congestion.

• Decentralized Network

  — Decentralized at the data source, oracle node, and oracle network levels. Generating strong protections against downtime & tampering by either the data provider or the oracle network.

• Transparency

  — Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offer.

They also plan to integrate Chainlink Keepers to help automate critical smart contract functions, including triggering liquidations & building ubiquitous trading functionality such as stop-losses, take-profit, & limit orders directly into the platform. Besides, this decentralized service will help take Primex to the next level in user functionality and help it become a staple in cross-chain DeFi.

About Primex

Primex the cross-chain prime brokerage liquidity protocol for cross-DEX margin trading. In Primex, lenders provide liquidity to pools where traders can use it for leveraged trading in cross-DEX environments. Lenders then have an opportunity to earn high yields, their interest is generated from margin fees & profits on successful trades. Lastly, Lenders will have the flexibility to manage their risks & return by providing liquidity to a variety of Credit buckets, subsets of liquidity pools that regulate trader risk strategies.

Website | Twitter |

About Chainlink

The Chainlink the industry standard for building, accessing, & selling oracle services needed to power hybrid smart contracts on any blockchain. 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. Currently secures tens of billions of dollars across DeFi, insurance, gaming, major industries, & offers global enterprises & leading data providers a universal gateway to all blockchains.

Website | Twitter |

Source

The post Primex Integrates Chainlink appeared first on Smart Liquidity Research.