• Latest
  • Trending
WOO Network using Chainlink for customized market data on new DEX » CryptoNinjas

WOO Network using Chainlink for customized market data on new DEX » CryptoNinjas

October 30, 2021
The Moon ‘created’ his lavish reality… and says you can, too – Cointelegraph Magazine

The Moon ‘created’ his lavish reality… and says you can, too – Cointelegraph Magazine

May 23, 2022
Korean crypto exchanges issue warnings on litecoin over confidential transactions

Korean crypto exchanges issue warnings on litecoin over confidential transactions

May 23, 2022
This Altcoin Could MOON!

This Altcoin Could MOON!

May 23, 2022
Can GameStop Take on Robinhood With Its Ethereum Wallet?

Can GameStop Take on Robinhood With Its Ethereum Wallet?

May 23, 2022
Bitcoin, Ether, Shiba Inu, Dogecoin, Other Cryptos In Red For 2nd Day

What Is Tcap – A Token That Tracks The Market Cap Of The Entire Crypto Market

May 23, 2022
Middle East Supply Chain Finance Market Is Booming Worldwide

Middle East Supply Chain Finance Market Is Booming Worldwide

May 23, 2022
SHIB Army Calls Foul Over Dogecoin Comparison, Insists on Unity By CoinQuora

SHIB Army Calls Foul Over Dogecoin Comparison, Insists on Unity By CoinQuora

May 23, 2022
How to trade Bitcoin and altcoins over the summer – FXStreet

How to trade Bitcoin and altcoins over the summer – FXStreet

May 23, 2022
Cryptocurrency: Room to Regulate, or Not – Twin Cities Business Magazine

Cryptocurrency: Room to Regulate, or Not – Twin Cities Business Magazine

May 23, 2022
Are HODLers doomed to rely on centralized options?

Are HODLers doomed to rely on centralized options?

May 23, 2022
ANI.Finance, the Blockchain-to-Business DeFi Startup,

ANI.Finance, the Blockchain-to-Business DeFi Startup,

May 23, 2022
How the Metaverse Could Be a Game-Changer for NFT Gaming – CoinDesk

How the Metaverse Could Be a Game-Changer for NFT Gaming – CoinDesk

May 23, 2022
OOF CRYPTO
  • Home
  • Bitcoin
  • Ethereum
  • Solana
  • Altcoins
  • Market & Analysis
  • ICO
OOF CRYPTO
No Result
View All Result

WOO Network using Chainlink for customized market data on new DEX » CryptoNinjas

by oof_pj
October 30, 2021
in Chainlink
0


WOO Community, a cryptocurrency buying and selling platform, at the moment introduced WOOFi, a brand new capital-efficient DEX powered by institutional hedging and market-making strategies. Since Spring of 2021, the WOOFi Swap proof of idea on BSC and Polygon has traded practically $4 billion in quantity, demonstrating the effectiveness of the market-making algorithm often called Artificial Proactive Market Making (sPMM).

The necessity for extremely dependable market knowledge

The DEX depends on granular market knowledge from the WOO Community to be pushed incessantly into the blockchain with a purpose to replicate a CeFi order ebook on-chain.

In contrast to different oracles that push an replace after the value deviates a set quantity from the earlier value, WOOFi wanted further parameters together with mid-price, unfold, and a liquidity coefficient. WOOFi additionally requires the oracle to be up to date extra usually to make sure the DEX can function with 0.1% swap charges. 

On high of those demanding necessities, it was additionally important that the oracle technology be able to sustaining extremely constant uptime, even in unstable market situations. As an business chief in constructing decentralized oracle infrastructure, Chainlink was a pure match for supporting this custom-made resolution.   

Chainlink has been operational for 2+ years even throughout even probably the most intense situations, together with durations of excessive volatility and community congestion. Presently, Chainlink helps over 600 Value Feeds throughout a variety of blockchains, and helps safe tens of billions of {dollars} in on-chain worth.

Powering superior oracles with Chainlink

So far, Chainlink has supported infrastructure and knowledge feeds which might be maintained by a decentralized community of nodes run by skilled DevOps with a purpose to present customers with a dependable knowledge feed.

These preliminary decentralized oracle networks (DONs) showcase the start of a a lot bigger imaginative and prescient of the Chainlink Community, the place any variety of DONs are working concurrently and independently of each other with their very own customized design patterns, exterior connections, and safety configurations.

WOO Community is leveraging Chainlink infrastructure to construct its personal impartial DONs, which include a spread of on-chain knowledge feeds and buying and selling parameters derived from WOO community itself.

By combining the expertise and technical experience of Chainlink oracles with the wealthy market knowledge of WOO Community, it’s doable to create custom-made oracles for WOOFi primarily based on the institutional knowledge and liquidity provisioning methods of WOO community.

WOOFi is simply the primary instance of the on-chain merchandise that may be created utilizing Chainlink and superior datasets to profit DeFi customers by delivering institutional-grade liquidity-providing methods, providing customers low charges, deep liquidity, and aggressive costs.

Shifting ahead, WOO Community will work with Chainlink to make these market pricing oracles out there to third-party decentralized buying and selling platforms. These platforms might make the most of the oracle’s pricing to supply dependable value feeds throughout a variety of cryptocurrencies, together with the WOO token.



Source link

YOU MAY ALSO LIKE

What Is Tcap – A Token That Tracks The Market Cap Of The Entire Crypto Market

Chainlink, Kava, and Calyx Token!

Tags: ChainlinkCryptoNinjascustomizeddataDEXMarketNetworkWOO
ShareTweetPin

Search

No Result
View All Result

Recent News

The Moon ‘created’ his lavish reality… and says you can, too – Cointelegraph Magazine

The Moon ‘created’ his lavish reality… and says you can, too – Cointelegraph Magazine

May 23, 2022
Korean crypto exchanges issue warnings on litecoin over confidential transactions

Korean crypto exchanges issue warnings on litecoin over confidential transactions

May 23, 2022
This Altcoin Could MOON!

This Altcoin Could MOON!

May 23, 2022

Recent News

  • The Moon ‘created’ his lavish reality… and says you can, too – Cointelegraph Magazine
  • Korean crypto exchanges issue warnings on litecoin over confidential transactions
  • This Altcoin Could MOON!

Categories

  • Altcoins
  • Bitcoin
  • Blockchain
  • Chainlink
  • Cryptocurrency
  • Dogecoin
  • Ethereum
  • ICO
  • Litecoin
  • Market & Analysis
  • Rippl
  • Videos

Follow Us

Find Via Tags

Altcoin Altcoins analysis Analyst Bitcoin blockchain BTC Buy Cardano Chainlink coin Crypto Cryptocurrencies Cryptocurrency DeFi Digital DOGE Dogecoin ETH Ethereum exchange Heres Inu Investors launches Litecoin Market Markets metaverse news NFT NFTs Price Prices rally Ripple Ripples Shiba Solana Today token Top Trading Week XRP
  • Privacy & Policy
  • About Us

© 2021 oof Crypto

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Solana
  • Altcoins
  • Market & Analysis
  • ICO

© 2021 oof Crypto