Glue Taps into Power of Real-World Knowledge with Stork’s Oracle Service

Francis Bacon coined the phrase “knowledge is power” way back in the late 1500s. As clever as he was, he likely could not have imagined the speed at which one can acquire such power in the 21st century.

It’s an old saying, but in today’s information-rich age, knowledge is more powerful than ever. It enables vast quantities of wealth and influence to be disseminated in ways that were inconceivable even a few decades ago.

Speedy access to knowledge is crucial in today’s furiously competitive field of finance. Whether trading in the traditional or decentralized realm, market values change constantly and rapidly, with price fluctuations measured in milliseconds.

And while blockchain’s DeFi tech has historically lagged behind TradFi in this regard, speed is no longer an obstacle, thanks to Glue’s multilayered architecture and our latest partnership with Stork.

One of Glue’s low-latency EVM-compatible L2s is specially optimized and dedicated to DeFi, ready to handle the most demanding time-oriented trading tasks. Just one challenge remains: how to import real-world financial knowledge into the Glue ecosystem as efficiently and accurately as possible.

Importing the real world

That’s where our partnership with Stork comes into play.

Stork is an ultra-low-latency oracle service, collecting and aggregating pricing for crypto assets across multiple blockchains and centralized exchanges. Stork’s oracle data is fully verifiable and manipulation-resistant, powered by a decentralized network of data publishers.

Smart contracts, secured by Stork, deliver prices to Glue’s blockchain ecosystem. Our smart contracts then take over and perform a range of DeFi user tasks, including DEX trading and decentralized lending and borrowing services. And now with Stork, it’s all equipped with the latest pricing data.

Importantly, Stork’s service plays a key role in ensuring stable pricing of our USDg stablecoin. Glue users can convert a digital asset to USDg (or vice versa), knowing they are trading at timely real-world prices.

For a stablecoin to be useful, it’s essential for it to remain pegged precisely at a 1:1 ratio with fiat currency at all times. Stork’s oracle service is designed to aid in performing this critical task. The service has proven to be reliable, with over $200 million in total value locked in the platform.

Complexity behind the scenes, simplicity on stage

The USDg stablecoin acts as a sort of gateway from fiat currency into the Glue ecosystem. With the Glue Hub interface, modeled after mainstream finance apps like RobinHood, users can easily buy or sell a broad range of digital assets against USDg — making all trading pairs intuitively comparable against USD prices.

Since all tokens are paired with USDg, it’s critical that the real-time price of the stablecoin and paired assets are precisely matched with real-world values. Instead of bogging down components of Glue’s infrastructure with the burdensome duty of sifting through reams of price data, Stork’s oracle service eagerly takes on the task, working busily in the background to discover and then deliver only the required price queries. Our partnership approach thus ensures that users get the most accurate prices while enjoying a user-friendly and responsive DeFi experience.

Our mission at Glue is to provide the safest, simplest, and speediest trading experience for our DeFi users. Partnering with Stork makes this possible by unlocking the power of knowledge in real-time.

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