Seoul Stars Is Integrating Chainlink Price Feeds to Help Secure Its Virtual Experience in the Metaverse
We’re excited to announce that Seoul Stars — virtual K-pop artists in the metaverse — is integrating Chainlink Price Feeds on Solana. By integrating the industry-leading decentralized oracle network, Seoul Stars will have access to high-quality, tamper-proof price feeds needed to enable multiple cryptocurrencies to be used in the Seoul Stars metaverse and marketplace. This will provide our users with stronger assurances that every mint, sale, concert, or transaction on the Seoul Stars platform is priced accurately according to the current global market rates.
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.
Seoul Stars is a virtual NFT in the metaverse that currently offers Yuna as the first virtual K-pop artist in the Solana blockchain. By creating Yuna, we have a figure that is not bound by time or space due to its virtual nature, allowing the community to share timeless moments of Yuna which include virtual concerts, music albums, and other perks that holders will get as the development of Yuna advances.
In order to help secure an easier payment system in the metaverse with Yuna, 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 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 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 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.
- 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. Chainlink nodes have a strong track record of reliability, even during high gas prices and infrastructure outages.
- 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 oracle network.
- Reputation 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.
We look forward to integrating Chainlink Price Feeds and potentially other Chainlink oracle solutions in the future.
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.
About Seoul Stars
Designed by a leading K-Pop artist agency HUMAP CONTENTS,
produced by Tommy Lee (worked with EXO, IU, Super Junior, Girls’ Generation), and endorsed by K-Pop stars, Yuna will release her own album and host virtual concerts in the Seoul Stars metaverse.
There are 10,000 limited edition and unique NFT arts of YUNA drawn by Korea’s leading illustrator, Songbly.
We are confident that Yuna will be the next evolution of virtual artists around the world, and with our current devoted team led by HUMAP CONTENTS, Yuna will be sure to take the world by storm.
Find out more about Seoul Stars by visiting our website at: