ChainLink price oracles dominate the data source with KyberSwap integration

Chain link price oracle they still are widely used under decentralized funding protocols or DeFIsince the Kyber Network (KNC) integrated price indices into its token swaps KyberSwap on June 12th.

KyberSwap is at least the third DeFi platform that integrates Chainlink price data this month Chainlink’s growing dominance in the niche.

The price references displayed on the token exchange platform are now derived from both the native Cyber ​​Network indices and the Chainlink oracles.

KyberSwap integrates Chainlink price data

ChainLink price oracles dominate the data source with KyberSwap integration
ChainLink price oracles dominate the data source with KyberSwap integration

A blog post by KyberSwap describes the integration as that User protection They carry out a token exchange against slipping and at the same time receive protection against price manipulation.

KyberSwap is pleased to work with a renowned project like Chainlink and its decentralized oracle network offer a reliable price index for our platform No custody exchange and improve the overall dealer experience“said KyberSwap product manager Sunny Jain.

“We are excited Integrate Chainlink price reference data with KyberSwap for more security and reliability in prices The dealers trust that they calculate the slip, “said Johann Eid, Product Manager at Chainlink.

Chain link oracles dominate DeFi

Chainlink prices are quickly becoming the industry standard for the DeFi sectorSince June at least three decentralized financing projects have taken the company’s data into account.

June 2nd AVA announced that it had started integrating Chainlink data to make them available to developers who create apps on the AVA network before they launch on the Mainnet this season.

Kevin Sekniqi, co-founder of AVA Labs, told Cointelegraph: “Chainlink provides access to financial data sources and real information necessary to build new financial instruments and the next wave of decentralized funding. “

He added:

“When you look at the outstanding growth of the Ethereum DeFi community, it’s clear how important powerful oracles can be when implemented by talented developers.”

The next day, Decentralized exchange Opium, operated by Ethereum (ETH), also implemented the support of Chainlink price data together with the start in the main network.

Do not stop reading:

Similar Posts