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<PLEXUS> Integrates Chainlink Price Feeds to Help Secure <Price impact for cross-chain swaps>
We’re excited to announce that #PLEXUS — All chains, all tokens, and the cheapest swap with just one transaction. — has integrated
Chainlink Price Feeds on ETH, BSC, Polygon mainnet. By integrating the industry-leading decentralized oracle network, PLEXUS has access to high-quality, tamper-proof price feeds needed to Chainlink has significantly stabilized price impact calculations in PLEXUS cross-chain swaps. This will provide our users with stronger assurances that Optimal trades that can happen in a cross-chain swap.
Our initial integration involves the use of the following Chainlink Price Feeds: Ethereum-based USDC. We chose Chainlink as our go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. Chainlink already helps secure leading
DeFi protocols responsible for tens of billions of dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and
data manipulation attacks via flash loans.
PLEXUS is a Cross-chain Middleware infra service for blockchain mass adoption. Through PLEXUS, users can trade all tokens of heterogeneous chains in the cheapest and safest way with a single confirmation.
In order to help secure our price impact for cross-chain swaps, we needed access to fresh asset prices that are supplied directly on-chain in a highly reliable manner. Fair market asset prices should reflect a volume-weighted average from all trading environments. Thus, we needed to make use of an
oracle network to fetch aggregated price data off-chain and deliver it on-chain to be consumed by our application.
After reviewing various oracle solutions, we integrated Chainlink Price Feeds because they provide a multitude of critical features such as:
1️⃣High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that’s aggregated from hundreds of exchanges, weighted by volume, and cleaned of outliers and wash trading. Chainlink’s data aggregation model generates more precise global market prices that are inherently resistant to inaccuracies or manipulation of any single or small set of exchanges.
2️⃣Secure Node Operators — Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises. Chainlink nodes have a strong track record of reliability, even during high gas prices and infrastructure outages.
3️⃣Decentralized Network — Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or oracle network.
4️⃣Reputation System — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical and real-time performance of node operators and oracle networks.
