Price Oracles Enter the Crypto ArenaColin Baseman
ChainLink is a known platform and many crypto users rely on the data it provides. The product bridges the gap between the real world with data. Its total supply of tokens has reached one billion since its launch in 2017. Price oracles offered by ChainLink seem to be fully prepared to dominate data-feeds related to DeFi. They are connected to the Ethereum network and provide external information. ChainLink is available on any exchange. Users who are willing to buy it can do it on an exchange that supports e-money.
Another factor that the participants of the entire crypto arena cannot ignore is the importance of KyberSwap integration that is currently occurring in the sphere. The firm’s price oracles are intensively taking their positions and their major mission is going to be of great importance, too – the approach will serve as the key source for the DeFi sector and will turn into the leading data source with standards set by the industry.
Analysts also pay attention to Kyber Network that is ready to integrate the system and price feeds aimed at its token swaps.
ChainLink’s products, including price oracles as well as a few other deals, are continuing to gain popularity among customers. The crypto market witnesses its widespread adoption in many spheres, especially among protocols known as decentralized finance systems. At the same time, KNC is additionally integrating the price feeds. Finally, they managed to accomplish their project on the service providing token swap two days ago. As many market researches claim, the company is about to become the third decentralized finance platform that’s planning to try out the integration of price data from the mentioned team in June. This means that the brand’s growing dominance will soon become even more distinct and visible.
Price Data for KyberSwap Integration
Analysts note that price references currently derive from two separate sources. First, they come from ChainLink’s oracles. Next, we receive them from feeds that arrive directly from the networked owned by Kyber. Afterward, the platform illustrates those price references intended for token swaps.
Recently, the brand’s team has published a post where the creators describe the importance of integration. They mention details and explain how the system will protect customers who are carrying out token swaps. There will be no slippage and the team will also safeguard users against dishonest actions like price manipulation.
KyberSwap is proud of being in a close partnership with ChainLink. The latter has always been famous for reputable projects and smart ideas. What attracts clients to them is their DeFi oracle system that is capable of providing price feeds of exceptional reliability. They can be efficiently used for their platform known as a non-custodial product and the market can use it for token swaps while improving many participant’s experiences and the overall trader practice. Sunny Jain has given a few interviews during which he mentioned several other features of the product and opportunities it offers.
KyberSwap has always required the Price Reference Data that ChainLink provides. Now the team has integrated it and brought even more reliability and security. Two weeks ago, the mass media announced that AVA had started integrating feeds and made the data available. As a result, developers who focus on creating apps on the network will be able to evaluate its advantages. Luckily, the brand has found a way to build fresh and more advanced financial tools to help DeFi projects.
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