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13 May, 6 tweets, 6 min read
Today in #Chainlink 🔗

"Because market data is fetched from off-chain, on-chain flash loans have zero effect on the data provided by the ETH/USD @Chainlink Price Feed, entirely solving the issues presented in the theoretical examples above" -@orbs_network
orbs.com/orbs-integrate…
"@SataToken is building risk analysis systems off-chain for service providers, who will then in turn report dynamic risk levels of identities on-chain using #Chainlink-powered decentralized oracle networks"

Decentralized identity is the future
$SATA $LINK
blog.congruentlabs.co/signata-will-l…
"We are excited to announce that @RulerProtocol is now using #Chainlink Price Feeds live on mainnet to secure user funds within our no-liquidation lending platform"

Interesting approach to lending/borrowing, impossible to get liquidated 🤔
$RULER $LINK
rulerprotocol.medium.com/ruler-protocol…
“If #DeFi breaks a trillion in total value locked, then ignoring it will quite simply be impossible. And then once that becomes impossible, everybody will begin making a plan" - @SergeyNazarov

@ChainlinkToday
chainlinktoday.com/chainlink-and-…
"In this tutorial, the @IroiroTokens team shows how to use #Chainlink to connect to #IPFS for cost-efficient token distribution and a variety of other #Ethereum infrastructure use cases"
blog.chain.link/fetch-ipfs-api…
"Since #Chainlink Price Feeds are already natively integrated on the @0xPolygon mainnet & already secure @bZxHQ successfully across other blockchains, it was an obvious and seamless choice to leverage Chainlink on Polygon to secure both Torque and Fulcrum"
bzx.network/blog/bzx-launc…

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More from @ChainLinkGod

ChainLinkGod.eth 2.0 Profile picture
13 May
1/ Vitalik recently created a proposal on the Uniswap governance forum that they should shift focus and create a human-based token-weighted voting oracle mechanism to provide algorithmic stablecoins with USD-paired price data

Here's why I think this is not a practical proposal
2/ What is suggested is that Uniswap copy the Augur/UMA model where $UNI token holders are asked what the price of an asset is against USD, it is voted upon, and then multi-day/week dispute rounds are initiated as needed that can ultimately result in a token fork
3/ To note, this proposed oracle mechanism has nothing to do with Uniswap's existing on-chain TWAP oracle that I explored in this blog post below

It uses a fundamentally different oracle model, so the points being made here are different
smartcontentpublication.medium.com/twap-oracles-v…
Read 23 tweets
ChainLinkGod.eth 2.0 Profile picture
13 May
Bitcoin's energy consumption is a feature, not a bug

Sounds like a meme but it's true, the security of PoW blockchains comes from distributed energy consumption

The more energy consumed, the more secure the network

Doesn't justify the energy usage, but it's context
That being said, Proof of Stake is a real viable alternative that isn't just theoretical

Ethereum is ditching PoW and switching to PoS within a year using the exisiting beacon chain

Even if you disagree, the "Bitcoin/PoW is wasteful" narrative isn't going away
The common argument I see against PoS is "the rich just get richer" but we see this same dynamic with PoW and mining farms

Infact, because of the economies of scale, it's more concentrated

Having more capital allows you to earn more captial, that is universally true
Read 7 tweets
ChainLinkGod.eth 2.0 Profile picture
12 May
Today in #Chainlink 🔗

"@VenusProtocol, a money market and synthetic stablecoin protocol built on #BinanceSmartChain (BSC), has now fully upgraded to @chainlink as its oracle solution"

$BAND's largest user just switched to $LINK 👀

$13.78B TVL secured
blog.venus.io/venus-upgrades…
“Not only are we able to leverage #Chainlink’s time-tested security, but its native operation on #BSC allows us to get consistently fresh data for a much lower price.” — Joelito Lizarondo @JLSwipe, Founder Venus Protocol and CEO of Swipe Wallet.

This kills the BAND narrative
"We are pleased to announce that @polywhalefi, the first yield farming platform on the @0xPolygon network, has integrated #Chainlink's Verifiable Random Function (VRF) on mainnet to secure the Polywhale Lottery system"

$KRILL $MATIC $LINK
medium.com/polywhale/poly…
Read 6 tweets
ChainLinkGod.eth 2.0 Profile picture
12 May
For some reason, the creators of the dog tokens TikTok normies are going wild over thought it was a good idea to put liquidity on Uniswap and give the LP tokens to Vitalik so he has half the supply

He just withdrew all the $SHIBA $AKITA $SHIB $ELON and is dumping them on Uniswap
This alone is already incredibly based of Vitalik, but then he went and donated $500M of his $AKITA to @gitcoin, a quadratic funding grants program for open-source developers 🤯
etherscan.io/tx/0x2fb8b58f8…
I may disagree with Vitalik on the topic of price oracles, but I simply cannot ignore just how based this move really was

Vitalik dumped the doge tokens to save Ethereum gas prices

View it live below
etherscan.io/address/0xab58…
Read 10 tweets
ChainLinkGod.eth 2.0 Profile picture
12 May
Today in #Chainlink 🔗

"@AlchemixFi's integration, which already involves the mainnet use of the $DAI/USD @Chainlink Price Feed, will expand to include the use and support of Chainlink Price Feeds for $ALCX, $alBTC, $alUSD, and $alETH"

Self paying based
alchemixfi.medium.com/advancing-alch…
"By leveraging #Chainlink’s market-leading Random Number Generator (RNG) solution for smart contracts, users will have a truly random chance at obtaining higher rarity grade #NFTs when combining lower grade @playdapp_io Town NFTs"

VRF + NFT = FTW
medium.com/playdappgames/…
"@RampDefi is excited to announce our live integration of the market-leading #Chainlink Price Feeds on both the Ethereum and Binance Smart Chain (#BSC) mainnets"

Lending, borrowing, collateralizing, Chainlink powers it all
medium.com/rampdefi/chain…
Read 7 tweets
ChainLinkGod.eth 2.0 Profile picture
11 May
This meme has never been more relavant than with the $SHIB nonsense

Driven entirely by TikTok retail investors, some have generated an ROI of 400,000x (turning $17 to $6.5M)

However, given the liquidity profile, 99% of $SHIB holders will never realize any profits Image
There are aspects of the crypto economy I love like the democratization of finance through DeFi

However, the reality is that when you give people permissionless freedoms, they are free to do as they wish

Thus, we have these dog coins consuming a majority of Ethereum's bandwidth
This leads to exuberant fomo where users are paying $265 in gas fees to buy $40 of tokens

They need a 6.6x to just break even and a 13.2x if they want to break even after selling

Seems ridiculous but if you feel you have the chance of making 100,000x....
Read 5 tweets

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