Volare Finance integrates Chainlink Price Feeds to help secure options trading. By integrating the industry-leading decentralized oracle network, Volare Finance now has access to high-quality, tamper-proof price feeds needed to help foster DeFi crypto options trading by providing trading tools that professional options traders use.

This provides its users with stronger assurances that Volare Finance eliminates the credit risk issues related to option trading in the over-the-counter (OTC) market in the conventional financial world by providing traders with fair and accurate market prices.

Volare’s initial integration involves the use of the following Chainlink Price Feeds:
  • USDC-USD
  • BTC-USD
  • ETH-USD
  • AVAX-USD

They chose Chainlink as its go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production.

Chainlink already helps secure leading DeFi protocols. Responsible for tens of billions of dollars in smart contract value. It also maintains robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.

Volare Finance Mechanism

The Volare mechanism stimulates trading in DeFi crypto options while providing experienced options traders with important information. It is ideal for options trading because of the product’s exceptional features, which users will value. The Volare protocol’s fundamental unit is an order book.

The Volare team has experience with traditional financial derivatives, and the product is at a fairly reasonable price. Its options trading platform gives users the benefits of profit-sharing, AMM functionality, exotic options products, market hedging, financial instructions, on-chain execution, and interest yields.

In order to help secure our decentralized options platform, Volare needed access to fresh asset prices that are supplied directly on-chain in a highly reliable manner. Fair market asset prices should reflect a volume-weighted average from all trading environments. Thus, Volare also needs to make use of an oracle network to fetch aggregated price data off-chain and deliver it on-chain to be consumed by its application.

“We are happy to integrate Chainlink Price Feeds, a time-tested and proven solution to the blockchain oracle problem that acts as critical infrastructure for Volare Finance.”— Astra, Technical Director at Volare Finance

Volare Finance is pleased to integrate the proven Chainlink price data solution to help power a secure decentralized options trading experience.

ABOUT Chainlink

Chainlink is the industry standard for building, accessing, and selling oracle services. Needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API. Leverage secure off-chain computations for enabling feature-rich applications.

Website | Twitter

ABOUT Volare Finance

Volare is a leading provider of options trading. Provides a transparent, trustworthy, and convenient decentralized mechanism for options trading which imitates the serviceability of centralized exchanges.

Website | Twitter

REQUEST AN ARTICLE

Comments

Post a Comment

Popular posts from this blog

Ethereum Fees Surge as Sandwich Bots Tailgate Traders of Pepe Coin

Image
A new cryptocurrency called Pepe Coin was introduced this month and has attracted the interest of investors. In the past 24 hours, Pepe Coin has risen by almost 300%. CHAD is no exception, as the coin is up by over 80% during the same period. Investors are buying up the token fervently, with the hope that it could follow the success stories of Dogecoin and Shiba Inu. In the hope of making millions, sandwich bots are front-running traders who are getting their hands on Pepe Coin and CHAD. Also read: Crypto.com Introduces Shiba Inu (SHIB) Trading Contest for the Community How does the Sandwich bot trading work? A sandwich attack involves the exploitation of a user’s transaction, which is strategically placed between two other transactions for the purpose of manipulating and earning profits. Bots carry out this attack by front-running, buying the same asset from the victim, and then selling it for a slightly elevated price to the same victim. These types of attack
Read more

Shiba Inu Mainnet Registers Increased Activity Alongside Shibarium's Puppynet

Image
Shibarium’s native testnet, Puppynet, has been making a lot of noise of late. As reported recently, the test network processed more than 1 million transactions with the assistance of more than 200k unique wallets. Interestingly, there has been a corresponding network growth on the main Shiba Inu network as well. The latest data from IntoTheBlock revealed that the number of new and active addresses on the network increased by 5.29% and 7.55% respectively over the past week. Basically, an address is considered to be active when it becomes a direct participant in a successful transaction. New addresses, on the other hand, gauge the number of fresh entrants into the ecosystem. According to the thumb rule, the higher both the numbers, the better, for they hint towards refining participation by traders/investors. Thus, it can be said that the latest uptrend registered on both these fronts is quite an encouraging sign. Source: ITB Also Read – Shiba Inu: ‘Puppynet’ Processes 1 M
Read more

Bitwise withdraws Bitcoin and Ethereum ETF application

Bitwise Asset Management has withdrawn its application for a Bitcoin and Ethereum Market Cap Weight Strategy ETF. Bitwise Asset Management has withdrawn its application for a Bitcoin (BTC) and Ether (ETH) Market Cap Weight Strategy exchange-traded fund. It was initially filed with the U.S. Securities and Exchange Commission on Aug. 3. This decision follows a period of increased optimism in the crypto market after Grayscale secured approval for its own ETF from the SEC. Bitwise’s Chief Investment Officer, Matt Hougan, had expressed support for the SEC’s approval of crypto ETFs in a previous interview with Bloomberg. The planned ETF was designed to invest in futures contracts for either Bitcoin or Ethereum, guided by their respective market capitalizations. In addition, Bitwise was concurrently collaborating with ProShares to initiate another ETF. The company’s official statement on the withdrawal noted, “The Trust no longer intends to seek effectiveness of the Fund and no securi
Read more