Atlas DEX Is Integrating Chainlink Price Feeds to Securely Calculate Users’ USD Balances
We’re excited to announce that Atlas DEX — a cross-chain DEX aggregator built on Solana — is integrating Chainlink Price Feeds on Solana, Ethereum, and Binance Chain. By integrating the industry-leading decentralized oracle network, Atlas DEX will have access to high-quality, tamper-proof price feeds needed to optimize the calculation of users’ token balances in USD. This will provide our users with stronger assurances that their token values represent globally accurate fair-market prices.
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.
Atlas DEX allows users to access liquidity from decentralized exchanges across multiple blockchains with a simple, intuitive user experience. Moreover, Atlas DEX splits trades across different liquidity pools to access the best price and minimize slippage. This eliminates existing barriers to cross-chain transactions, making Atlas DEX a go-to platform for DeFi users.
In order to help ensure Atlas DEX accurately calculates users’ USD balances, we need 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 to fetch aggregated price data off-chain and deliver it on-chain to be consumed by our application.
After reviewing various oracle solutions, we selected Chainlink Price Feeds because they provide a multitude of critical features such as:
- High-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 from outliers and suspicious volumes.
- Secure 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 with a strong track record for reliability, even during high gas prices and extreme network congestion.
- Decentralized 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 the oracle network.
- Transparency — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.