Another round of exciting integrations amid Chainlink’s evolution towards staking.
New Week on the Front Line
Chainlink continues its journey across different chains, powering the vibrant world of smart contracts.
After going live on Moonbeam in our last weekly roundup, Chainlink integrates two popular protocols and starts delivering tamper-proof price data to a leading crypto exchange.
In this week’s roundup:
Chainlink Keepers are decentralized and economically incentivized automation bots that manage smart contracts. In this case, they will auto-compound BANANA Maximizer staking rewards at significantly reduced fees for $BANANA holders.
“We value the contribution Chainlink continues to provide for the DeFi/Web3 space, and we’re excited to be one of the first projects actively using Keepers on BNB Chain. I’m looking forward to seeing new and creative use cases for Keepers,” told Apetastic, ApeSwap’s Lead Solidity Developer, exclusively to BSC News.
Instead of relying on manual interventions, the integration ensures that staking rewards are constantly compounded. As a result, users will pay some of the lowest auto-compound fees in DeFi for staking Liquidity Provider tokens.
Joepegs integrated Chainlink Verifiable Random Function (VRF) to enable fair random NFT reveals.
“Using Chainlink VRF to support fair batch reveals in our new NFT launchpad was an obvious choice following our previous integration of Chainlink Price Feeds. Chainlink is the industry-standard oracle solution for good reason, and VRF helps ensure that random batch reveals in Launchpeg are truly random,” said Cryptofish, Co-Founder of Joepegs and Trader Joe.
Some of Chainlink VRF’s other uses include:
NFTs: Fair NFT distribution and assignment of randomized attributes.
Gaming: Random outcomes in blockchain games.
Ordering for processes: Distribution of highly-coveted items like tickets to events.
Landing a Top Exchange
The digital assets trading platform, MEXC Global, announced it’s integrating Chainlink Price Feeds to calculate exchange rates in its over-the-counter (OTC) markets. The crypto exchange will leverage the high-fidelity oracle network to help ensure that its OTC markets reflect accurate and fair market rates.
“We chose Chainlink as our oracle solution because its infrastructure is seamless to integrate and time-tested in production,” shared the MEXC team on their blog.
Fair market asset prices should reflect a volume-weighted average from all trading environments. The oracle network fetches aggregated price data off-chain and delivers it on-chain to be consumed by the exchange. This way, MEXC can access fresh and reliable asset prices.
What is 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.
Where to find Chainlink:
What is ApeSwap:
ApeSwap is a leading DEX on BNB Chain, which offers users the best trading experience. ApeSwap is a blend of a decentralized exchange, yield farming, staking, and an automated market maker (AMM). ApeSwap users are urged to partake in its liquidity pool offerings via yield farming to earn its native BANANA token. These earned tokens can be used to stake and earn other tokens and unlock deluxe features.
Where to find ApeSwap:
What is Joepegs:
Joepegs is an NFT marketplace on Avalanche, built by Trader Joe. A home built for creators and collectors from all walks of life to serve as the cultural hub for premium digital assets. Discover and interact with digital art and culture at Joepegs.
Where to find Joepegs:
What is MEXC Global:
Established in 2018, MEXC Global is a digital asset trading platform with over 7 million users, which offers users one-stop services, including spot, margin, leveraged ETFs, derivatives trading, and staking services. MEXC Global believes in “User first, service foremost” and creates a community where users can access and trade the latest best-in-class digital asset worldwide.
Where to find MEXC Global:
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.