Zenlink Plans to Integrate Chainlink to Power a Cross-Chain DEX on Polkadot
Zenlink, a cross-chain DEX network based on Polkadot, will integrate Chainlink’s widely used Price Feeds to access reliable valuations for assets secured by Polkadot. Chainlink price oracles will be used within financial applications built on top of Zenlink, such as lending applications, automated trading strategies, and various other DeFi products. Chainlink oracles will also play a role in the native protocol functionality of our ZLK token.
Zenlink is a native Polkadot parachain DEX, allowing users to securely swap any asset among parachains. By integrating Chainlink, we are able to further decentralize and expand Zenlink’s financial services through access to highly accurate and transparent decentralized price oracles. This ultimately increases the reliability of our financial products, as they can respond to real world changes in asset prices with high availability and without fear of various data manipulation attacks.
After reviewing other oracle solutions, we selected Chainlink Price Feeds due to the multitude of guarantees they provide, such as:
- High-Quality Data sourced from numerous premium off-chain aggregators, giving us extensive market coverage that’s aggregated across all trading environments.
- Sybil-Resistant Oracle Node Operators run by leading security and blockchain DevOps teams, many of which also run Polkadot infrastructure.
- Decentralization at both the oracle and data level to ensure no single point of failure in the sourcing and delivering of data to our smart contracts.
- Transparent Oracle Networks that allow any user or developer to independently verify their real-time performance and how they update prices.
<An example of the Chainlink ETH/USD Price Feed.>
In addition to the features mentioned above, we feel confident using Chainlink’s market leading solution because it’s the most proven and easily integratable oracle network in-production, currently securing over $4B+ in USD value for leading DeFi DApps. This kind of time-tested, plug-n-play oracle framework allows us to quickly scale to support a wide variety of assets, as we don’t need to build any oracle infrastructure from scratch.
“Zenlink will play a critical role in allowing users and developers to swap assets across parachains securely. Chainlink’s high-quality data and reliable oracle infrastructure will enable users to trust the data feeds used to trigger DeFi products built on Zenlink. This enhances our ability to scale and secure even more value across a wider variety of assets,” said Guo Tao, Zenlink Co-founder.
About Chainlink
Chainlink is the most widely used and secure way to power universal smart contracts. With Chainlink, developers can connect any blockchain with high-quality data sources from other blockchains as well as real-world data. Managed by a global, decentralized community of hundreds of thousands of people, Chainlink is introducing a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance and gaming ecosystems, among others.
Chainlink is trusted by hundreds of organizations to deliver definitive truth via secure, reliable data feeds. To learn more, visit chain.link and follow @chainlink on Twitter.
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About Zenlink
Zenlink is committed to building a new generation cross-chain DEX network. By integrating the Zenlink DEX Module, Zenlink can enable parachains to quickly possess DEX capabilities and share liquidity with other parachains; Zenlink DEX aggregator can link all DEX DApps on Polkadot. Users can not only complete the exchange easily and quickly, but also enjoy a low slippage transaction experience. Zenlink’s native token ZLK provides a fair and transparent governance mechanism and reasonable value capture methods to incentivize ecological users to participate in long-term network development .
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