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15 May, 5 tweets, 6 min read
Today in #Chainlink 🔗

"The initial integration involves @FloatProtocol leveraging the widely-used $ETH/USD @Chainlink Price Feed to power our monetary policy and price stabilisation mechanisms"

A volatility-dampened stablecoin with a $FLOAT-ing value 🤔
medium.com/float-protocol…
"@DafiProtocol's algorithmic distribution model secured by #Chainlink’s decentralized data feeds opens up a new type of token distribution mechanism that creates much needed long-term incentives for supporting decentralized networks"

$DAFI $LINK
dafiprotocol.medium.com/dafi-protocol-…
"By integrating #Chainlink VRF, we (@OfficialZeroDEX) ensure that ALL Launchpad participants have a provably fair and unbiased chance at being selected as a winner of various IDO allocations"

Verifiably verified by VRF
$ZERO $LINK
medium.com/@OfficialZeroD…
"We’re excited to announce that the technology development company @TintashApps has been selected as a recipient of a #Chainlink community grant to natively integrate Chainlink oracles into the @Stacks smart contract platform"

$STX $LINK @muneeb
blog.chain.link/tintash-receiv…
How Banks And Fintechs Should Prepare To Satisfy Demand For DeFi

A recent @LendIt panel with @SergeyNazarov, @kaiynne, @StaniKulechov, and @nlw regarding how institutions can no longer ingore the power of #DeFi

@ChainlinkToday
chainlinktoday.com/how-banks-and-…

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More from @ChainLinkGod

ChainLinkGod.eth 2.0 Profile picture
16 May
1/ Interesting discussion today with @elonmusk about the differences between #Bitcoin and #Dogecoin in regards to decentralization and the ability to serve as a new digitally-native money for the people

Here are some additional nuances on the subject Image
2/ As one of the people who helped bootstrap @PayPal to where it is today, I understand Elon's perspective regarding the traditional centralized currencies like $USD in the context of payments

But blockchains are entirely different technology with very different considerations
3/ Blockchains are designed to be inherently decentralized, censorship resistant, and permissionless in order to lower the barrier of entry for financial activity

Centralized finance does not reflect these values due to its centralized, censorable, and permissioned nature
Read 13 tweets
ChainLinkGod.eth 2.0 Profile picture
15 May
"Proof of Stake = rich get richer" is an example of a half-truth

It paints a human societal problem as something that's unique to Proof of Stake (it's not)

Proof of Work has the same exact problem with ASICs, but arguably worse because of economies of scale for energy usage
Yes it's true that PoW miners need to sell a *portion* of their mined coins to stay profitable, but ultimately the profit margins between PoW and PoS will be extremely similar

PoW's higher selling pressure simply means more buyers are needed in order to just keep the price flat
With EIP-1559 burning the base fees of transactions, PoS systems can be deflationary, off-setting this problem by granting *everyone* a higher percentage of the supply over time

Having captial always means you can generate more capital, this is not at all unique to PoS *or* PoW
Read 8 tweets
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
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…
Read 6 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

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