Following the successful upgrade of Linear Finance’s oracle mechanism to Chainlink (LINK/USD) Price Feeds, users of the protocol will enjoy improved reliability and security guarantees that all LINA synthetic assets will be redeemed, swapped, minted, and liquidated according to the latest, most precise world market prices, Invezz learned from a press release. Users will be able to trade different cryptocurrencies and market indices and feel safe knowing a highly reliable oracle infrastructure keeps their assets secure. The infrastructure is reliable even in unfavorable network conditions.
Integration covers 17 different Chainlink Price Feeds
After the upgrade, the network can scale up to more assets quickly and safely to fulfill platform demand. All Chainlink Price Feeds run on
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Drey Ng, Cofounder of Linear Finance, said:
“We saw a need to scale our oracle solution to meet increased demand in data security from the growing platform adoption. The Chainlink integration is implemented in an authentic and trustless manner, instilling greater confidence in the Linear community during extreme market volatility. Chainlink Price Feeds ultimately provide our users with more robust assurances that all on-chain functions will consistently be in total synchronization with global financial markets.”
Pros of Chainlink Price Feeds: High-quality data, decentralized network, and more
Chainlink Price Feeds source data from Kaiko, BraveNewCoin, and other reliable aggregators. As a result, their price data is weighted by volume, aggregated from hundreds of exchanges, and cleaned of wash trading and outliers. The world market prices generated by the data aggregation model are also protected from
Economy of Scale
Last but not least, Chainlink Price Feeds benefit from increasing adoption, which lets multiple projects fund and use shared oracle networks at the same time. By collecting commonly required datasets, DeFi projects obtain solid oracle security and premium data quality at a low price.