Mobie Network
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Mobie Network

Mobie to Integrate Chainlink Price Feeds for Accurate Reference Rates in Its Digital Payments Ecosystem

Mobie is excited to announce the integration of Chainlink, the industry-leading decentralized oracle network, into our universal payments and rewards ecosystem. Specifically, Mobie uses Chainlink Price Feeds to display current fair-market exchange rates in its MobiePay application, helping users make sound decisions when making payments and reviewing their holdings.

We decided to integrate Chainlink because it’s the industry leader in providing reliable decentralized data feeds on various cryptocurrencies. Not only are our Chainlink Price Feeds highly accurate with wide market coverage, but they are transparent in how they are sourced and aggregated — a feature not present in centralized data solutions. It’s why Chainlink Price Feeds are already relied on to help secure over $75B in value for top decentralized and centralized financial services.

Mobie is a universal payments and rewards ecosystem targeted at businesses and consumers. With MobiePay, users can use crypto or cash to shop, earn, and easily give up to 6% cashback to a charity of their choice. Mobie’s payment gateway and in-app marketplace bring added speed and security, along with reduced costs to business payment systems. Currently, Mobie’s received 30K+ organic signups for the waitlist and is now live in the iOS App store and the Android Google Play Store!

Blockchain is an emerging industry where users increasingly want to make payments with their cryptocurrencies. However, crypto assets are subject to considerably more price volatility than traditional fiat currencies. As a result, we need a reliable way to track the price of various crypto assets in our digital payments suite. After carefully reviewing various data solutions, we selected Chainlink Price Feeds because they offer:

  • 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. Chainlink’s data aggregation model generates more precise global market prices that are resistant to API downtime, flash crash outliers, and data manipulation attacks
  • Robust Infrastructure — Chainlink Price Feeds utilize decentralized networks of professional node operators run by leading blockchain DevOps teams and traditional enterprises with a strong track record of uptime during market volatility.
  • Transparent Monitoring — 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 price feeds.
  • Economy of Scale — Chainlink Price Feeds benefit from an economy of scale effect, where increasing adoption allows multiple projects to collectively use and fund shared price feeds for commonly required datasets. This allows us to get premium data quality and robust infrastructure for a fraction of the total cost.

Visualization of the launched Chainlink Integration Process when fully implemented

“Unlike other market data solutions, Chainlink Price Feeds are transparent and resistant to single points of failure, helping ensure MobiePay displays accurate prices during periods of extreme market volatility,” stated Brandon Burgason, Founder and CEO of Mobie. “As we continue expanding our platform, we will also look to integrate other Chainlink services, such as additional Chainlink Data Feeds and Chainlink Proof of Reserve for enhanced platform functionality.”

About Chainlink

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.

Learn more about Chainlink by visiting chain.link or read the documentation at docs.chain.link. To discuss an integration, reach out to an expert.

About Mobie

Mobie is a shopping payments and rewards mobile application that allows consumers to easily shop at retailers nationwide and spend the currency of their choice to check out at the point of sale. Consumers have the opportunity to earn cashback instantly from their transaction right inside the Mobie Wallet, and can easily spend this cashback or withdraw it right to their bank account. The Mobie Network family of products is developing an in-app currency exchange, staking tools, and merchant web plug-in payment gateway all powered by the Mobie Utility token MBX. Learn more at mobienetwork.com and download the app today for iOS or Android.

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We build mainstream products with blockchain by bridging the gap between technology and the user experience.

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We build mainstream products with blockchain by bridging the gap between technology and the user experience.

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