EMDX has integrated Chainlink Price Feeds to secure its crypto perpetual swap. The oracle network now offers EMDX access to high-quality and tamper-proof price feeds. Chainlink Price Feeds covered in the initial phase of the integration are AVAX/USDC, BTC/USDC, and ETH/USDC.
EMDX needed access to new asset prices supplied directly on-chain to secure its perpetual swap. Also, it supports the goal of EMDX, which consists of introducing synthetic crypto assets to Web3 and constructing DeFi products that creatively transition the entire ecosystem to the updated version of the web.
The oracle network of Chainlink Price Feeds presents a fair system for the users as it reflects a volume-weighted average from all the trading marketplaces. EMDX has integrated the initial parts on Avalanche mainnet, and it is expected to host future integrations as well.
Various partners were considered; however, Chainlink Price Feeds stood out for its security and provision of stable services during crucial times like flash crashes, exchange downtime, and data manipulation attacks through flash loans.
Chainlink is securing millions of dollars for various industries, further strengthening the case in favor of Chainlink. Security, robust in nature, is crucial as data manipulation can take hold of the decisions that users are making now.
Other crucial features of Chainlink Price Feeds that did wonder to partner with EMDX are:-
- High-Quality Data
- Secure Node Operators
- Decentralized Network
- Reputation System
Bernardo Corti, the Founder of EMDX, said that the company was excited about integrating the industry-leading Chainlink Price Feeds. Bernardo Corti added that EMDX would now be able to secure its perpetual swaps with market data that is reliable, secure, and decentralized.
Features of Chainlink Price Feeds continue to win cases for the platform. It sources data from many premium data aggregators, filters it with outliers, and supplies the most accurate global market prices. Global market prices secured by Chainlink have proved to be resilient to inaccuracies and manipulations.
Independent DevOps teams and enterprises play a huge role in maintaining the network security that is periodically reviewed. Nodes of Chainlink have a track record of reliability even during fluctuations in gas prices and infrastructure outages.
The decentralized nature of emerging enterprises keeps the network protected against downtime and data tampering. Plus, the network already holds a good reputation for having a much better functional framework with on-chain monitoring tools that allow users to verify the performance of the node operators.
EMDX debuted on Avalanche on June 20, 2022. It features an in-house spot market to allow on-demand token listing and expanding risk hedging tools.
Chainlink’s services have set an industry standard. Apart from securing billions of dollars for major industries, Chainlink also takes pride in offering a universal gateway to data providers to all the blockchains.
Source: https://www.cryptonewsz.com/emdx-and-chainlink-price-feeds-join-hands-to-secure-crypto-perpetual-swaps/