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7 May, 8 tweets, 8 min read
Today in #Chainlink 🔗

Absolutely monumental day for @chainlink, four integration announcements, a blockchain integration grant, a developers initiative, an #Ethereal presentation, and more 🤯 Image
"@VenusProtocol, a money market and synthetic stablecoin protocol built on #BinanceSmartChain has now deployed the VIP-23 proposal to allow a full upgrade to #Chainlink as its oracle solution"

As a protocol scales, security upgrades are crucial
$XVS $LINK
blog.venus.io/venus-deploys-…
"We are excited to announce that @JGNDeFi, an NFT marketplace on #BinanceSmartChain (BSC), will be integrating the industry-leading oracle solution #Chainlink to enable the creation of dynamic NFTs on BSC"

Chainlink usage on BSC going vertical
$JGN $LINK
juggernautdefi.medium.com/juggernaut-int…
“#Chainlink VRF is a game-changer for our platform since it’s both a secure and transparent source of randomness, ultimately ensuring that @TrustPad users have a truly fair opportunity to get access to early IDO projects“

IDO bags are secured
$TPAD $LINK
trustpad.medium.com/trustpad-will-…
"@LadyLuckCoin is pleased to announce our live integration of #Chainlink Verifiable Random Function (VRF) to access secure & verifiable random numbers used to select winners for each Lady Luck Lottery draw"

Feely luck? Chainlink verifies that
$LUCK $LINK
lando-lady-luck.medium.com/fairly-and-sec…
"@protofire, a development workshop for dApp protocols, has been selected as a recipient of a grant to perform a native integration of #Chainlink into the @Polkadot-based smart contract platform @Plasm_Network and Kusama implementation Shiden"

$PLM $LINK
blog.chain.link/protofire-rece…
"The #Chainlink Starter Kits are open-source projects based on existing #Ethereum Virtual Machine (EVM)-based development frameworks that allow developers to easily integrate Chainlink features and tools into their projects"

Buidl your dreams frens
blog.chain.link/starter-kit-sh…
"This week, Aave Founder and CEO @StaniKulechov and Chainlink Co-Founder @SergeyNazarov hosted a Clubhouse fireside chat about the future of #Aave’s open source DeFi protocol, #Chainlink’s decentralized oracle networks (DONs) and the entire DeFi economy"

chainlinktoday.com/aaves-stani-ku…

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More from @ChainLinkGod

ChainLinkGod.eth 2.0 Profile picture
10 May
1/ Mixing #Chainlink's high-quality data with low-quality data from unproven, centralized, and insecure oracle solutions only results in a dilution of data quality

Decentralization of oracles without taking into account data quality is the fast path to an exploit occuring Image
2/ While I understand the motivation of such an approach, the reality is that mixing data from oracles of varrying quality is a significant attack vector

@AlphaFinanceLab, you should heavily reconsider using such a solution, and I'll provide additional context as to why Image
3/ The core motivation comes from a desire to achieve oracle security the same way that blockchains do: decentralization

This is an approach the Chainlink framework has been designed around since day one: creating decentralized oracle networks using independent nodes Image
Read 16 tweets
ChainLinkGod.eth 2.0 Profile picture
7 May
1/ @VenusProtocol, a decentralized money market and synthetic stablecoin protocol built on #BinanceSmartChain with $11B+ in user deposits, has just created a proposal to fully upgrade their oracle solution to #Chainlink Price Feeds

$XVS $LINK
blog.venus.io/venus-deploys-…
2/ Venus is the largest #DeFi protocol in terms of total value locked across the entire #BSC network

defistation.io/venus

It's an algorithmic money market that allows users to not only lend and borrow tokens, but also mint decentralized synthetic stablecoins and earn yield Image
3/ With 18 supported assets and yields up to 30% APY, Venus has become the defacto money market on the #BSC network

However, to ensure the protocol is fully collateralized and user funds protected, Venus requires price oracles to determine the value of all collateral and debt Image
Read 19 tweets
ChainLinkGod.eth 2.0 Profile picture
3 May
1/ Just like "transactions per second" does not adequately reflect the real adoption of a blockchain network (as it doesn't take into account the economic value of each transaction)

The number of "requests fulfilled" for an oracle network does not accurately track adoption
2/ This is because most oracle networks operate using a decentralized data model where an on-chain reference contract is created to represent some value (e.g. the ETH/USD exchange rate)

Each update of these data feeds is considered a "request fulfilled"
However, the update frequency of each data feed is determined by the transaction throughput of the underlying blockchain where data is being delivered

It is not the oracle network which is the bottleneck here, it's the on-chain environment
Read 15 tweets
ChainLinkGod.eth 2.0 Profile picture
25 Apr
Expanding on this, colors are basically just a mental construct, it is how your brain interprets specific wavelengths, my colors may not be the same as yours

If one of your cones doesn't work, your perception of "reality" is skewed, though not really any more or less"true"
Pain is just your brain's response to damaged nerve cells which send electrical signals that are routed by your peripheral system to the central nervous system (specifically your nrian) to stop whatever action causes damage
Your brain simulates "pain" to incentivize the rest of "you" to fix this problem, if this didn't happen (no pain threshold), humans would die far more easily without realizing it
en.m.wikipedia.org/wiki/Congenita…
Read 9 tweets
ChainLinkGod.eth 2.0 Profile picture
24 Mar
1/ With the launch of Uniswap V3, I'm seeing questions regarding the differences between DEX-based TWAP oracles and Chainlink Price Feeds

There are four primary differences
1. Freshness/accuracy
2. Market coverage
3. Security scalability
4. Feed diversity

$LINK $UNI
2/ For context, the naive way to use Uniswap (or any DEX) as a price oracle is to take the spot (aka current) price

This method is extremely vulnerable to flash loan attacks and millions have been lost this way

Even Uniswap doesn't recommend you use their protocol in this way
3/ To prevent this (specific) issue of flash loans, Uniswap v2 and v3 offers Time Weighted Average Price (TWAP) oracles

TWAP is a way to calculate the mean price of an asset during a period of time

e.g. "1 hr TWAP" is the average price of an asset over a specific hour of time
Read 25 tweets
ChainLinkGod.eth 2.0 Profile picture
20 Mar
1/ #Chainlink is blockchain agnostic meaning it supports not only every baselayer L1 network, but also every L2 scaling solution

Optimistic Rollups, zkRollups, Validium, Plasma, State Channels, Sidechains, etc

But with @arbitrum, well now that's something special
2/ Arbitrum is an Optimistic Rollup L2 scaling solution that has already integrated Chainlink Price Feeds into its testnet

These data feeds will power @Bancor, @MonteCarloDEX, and a number of other L2 projects on Arbitrum once it launches on mainnet
offchain.medium.com/chainlink-orac…
3/ What makes the combination of @Chainlink + @Arbitrum truly unique is regarding that first image

Chainlink oracle nodes can run Arbitrum L2 Validators and execute smart contracts off-chain in a highly scalable manner (270x more throughput in some cases)
medium.com/offchainlabs/s…
Read 7 tweets

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