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18 May, 4 tweets, 4 min read
Today in #Chainlink 🔗

"By being one of the initial protocols to leverage @chainlink on #Avalanche, @BenqiFinance will decentralize one of the fundamental components within the protocol: the price oracle"

Native support @avalancheavax 🔥

$QI $AVAX $LINK
benqifinance.medium.com/benqi-will-use…
"We are excited to announce that @beyondfinanceio is now using #Chainlink Price Feeds to accurately and securely price all of our platform’s synthetic assets during the minting, swapping, redeeming, and/or liquidation processes"

$BYN $LINK
bfinance.medium.com/beyond-finance…
"In @SergeyNazarov’s view, definitive truth that is “acceptable to both counterparties” is “what’s necessary and sufficient for everything to move forward in a better way” than the current status quo, where a bank gets to unilaterally decide what happens"
chainlinktoday.com/chainlink-co-f…
"#HybridSmartContracts combine code running on the blockchain (on-chain) with data and computation from outside the blockchain (off-chain) provided by Decentralized Oracle Networks"

#DeFi is hybrid smart contracts
blog.chain.link/hybrid-smart-c…

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More from @ChainLinkGod

ChainLinkGod.eth 2.0 Profile picture
17 May
Today in #Chainlink 🔗

"@PundiXLabs is using and supporting newly launched @chainlink Price Feeds for $PUNDIX/USD (live today) to accurately distribute platform rewards denominated in the native PUNDIX token"

Incentivized blockchain governance
medium.com/pundix/pundi-x…
"The @wise_token lending and borrowing smart contract will utilize #Chainlink Price Feeds to determine the real-time value of assets, enabling it to issue fair market loans and secure its liquidation mechanism"

Native price feeds #BSC + #Polkadot
devinmarty.medium.com/wise-token-wil…
"Today, we are super excited to launch @LuchadoresNFT alongside the use of #Chainlink VRF to create #NFT collectables that are truly randomly generated at the time of purchase, with 100% of the art and metadata stored on the #Ethereum blockchain"

medium.com/@LuchadoresNFT…
Read 8 tweets
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
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
15 May
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…
Read 5 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

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