Adamant Integrates Chainlink Price Feeds For Highly Secure Liquidity Vaults
Adamant has proudly integrated Chainlink Price Feeds on Polygon mainnet to mitigate possible flash loan exploits and increase user safety. Starting with support for the MATIC/ETH Chainlink Price Feed, Adamant is able to get highly accurate, up-to-date, tamper-proof market data to secure our liquidity vaults.
We decided to integrate Chainlink because they are the most widely used oracle solution in our industry, already securing tens of billions of dollars for DeFi protocols across various blockchains. As the industry-standard oracle solution, Chainlink provides the most extensive collection of market data for various cryptocurrencies, stablecoins, indexes, and more. Most importantly, Chainlink’s highly secure and reliable market data is proven to be resistant to data manipulation attacks such as those executed using flash loans.
The recent rash of flash loan attacks on yield aggregators have involved depositing assets into a vault, manipulating the price of those assets with flash loans, and then manipulating the amount of reward tokens minted from those assets through various means. Our vaults block smart contracts from depositing into them, which means a flash loan attack based on manipulating the underlying asset’s price isn’t possible when claiming ADDY. Our vaults also guard against other reward manipulation exploits, such as the recent “Merlin” exploit.
To establish even more protection, the price calculator that our Minter contract consults to get the price of MATIC now relies on a decentralized price oracle from Chainlink and mints ADDY based on min (oracle price, pool price) — preventing other possible types of price manipulation exploits. Chainlink Price Feeds provide reliable and manipulation resistant inputs and outputs to Adamant’s complex smart contracts to ensure that our liquidity vaults have the best-in-class security.
After reviewing various market data solutions, some of the unique features of Chainlink Price Feeds that stood out to us include:
- High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that’s aggregated from hundreds of exchanges, weighted by volume, and cleaned from outliers and suspicious volumes. Chainlink’s data aggregation model generates accurate global market prices that are resistant to API downtime, flash crash outliers, and data manipulation attacks like flash loans.
- Secure Node Operators — Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises. Chainlink nodes have a strong track record for reliability, even during high gas prices and extreme network congestion.
- Decentralized Network — Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.
- Reputation — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.
“The Chainlink Network is the most widely used oracle solution in the blockchain industry, and their infrastructure has a flawless track record of providing high-quality market data to DeFi applications at all times. ” -Eep, Lead Dev
If you have any questions regarding our Chainlink integration, we highly encourage you to join our Telegram or Discord by using the official links below.
Chainlink is the industry standard oracle network for powering hybrid smart contracts. Chainlink Decentralized Oracle Networks provide developers with the largest collection of high-quality data sources and secure off-chain computations to expand the capabilities of smart contracts on any blockchain. Managed by a global, decentralized community, Chainlink currently secures billions of dollars in value for smart contracts across decentralized finance (DeFi), insurance, gaming, and other major industries.
Chainlink is trusted by hundreds of organizations, from global enterprises to projects at the forefront of the blockchain economy, to deliver definitive truth via secure, reliable oracle networks. To learn more about Chainlink, visit chain.link and subscribe to the Chainlink newsletter. To understand the full vision of the Chainlink Network, read the Chainlink 2.0 whitepaper. Want to discuss an integration? Talk to an expert.