Aurum Integrates Chainlink Price Feeds to Calculate Token and Portfolio Values
We’re excited to announce that Aurum — rewards and BSC utility token — has integrated the Chainlink Price Feeds deployed on Binance Smart Chain for the Aurum Wallet. By integrating the industry-leading decentralized oracle network, Aurum has access to high-quality, tamper-proof price feeds needed to provide users with stronger assurances that the token and portfolio value displayed in the Aurum Wallet are secure, accurate, and up-to-date.
Our initial integration involves the use of the following Chainlink Price Feeds:
We collaborated with Chainlink as our 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, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.
Due for full V1 release in Q4 2021, the Aurum Secure Wallet for BSC tokens, and later for multiple blockchains, aims to be a must-have app for both new and experienced crypto users. Beginning as a browser extension, the wallet will be packed full with the most important tools you need without needing to connect to external sites.
Exclusive Aurum Secure Wallet features that will be available upon launch or as future updates:
- Live token charts and transactions in-app
- Highly accurate live price tracking
- In-wallet token swapping
- NFT minting and showcase within-app
- Multi-chain compatibility
- Donate to charity button
- Follow wallet’/’copy trade’ function
The wallet will open up further possibilities for project partnerships, such as the ability to host other tokens as default listing tokens, access promotional/advertising space and seamlessly integrate with our Dapp where other reward tokens can be selected.
In order to help secure accurate, real-time token and portfolio values within the Aurum Secure Wallet, we needed fresh asset prices made available in a highly reliable manner. Fair market asset prices should reflect a volume-weighted average from all trading environments, thus, requiring aggregated price data.
After reviewing various solutions, we integrated Chainlink Price Feeds because they provide a multitude of critical features such as:
- 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 of outliers and wash trading. Chainlink’s data aggregation model generates more precise global market prices that are inherently resistant to inaccuracies or manipulation of any single or small set of exchanges.
- 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 of reliability, even during high gas prices and infrastructure outages.
- 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 oracle network.
- Reputation System — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical and real-time performance of node operators and oracle networks.
Beyond this current integration, Aurum will look to use additional price feeds from Chainlink in the future, as well as explore the possibility to expand to other chains.
“We could not be more pleased to be working with Chainlink and integrating its high-quality oracle network to help power the Aurum Wallet. Chainlink is a world-renowned decentralized oracle network, which means that one of the core and most frequently used functions of the wallet will be highly secure and reliable.”
Kelvin Ha, Aurum CEO
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.
Aurum ($AUR) aims to be the gold standard of rewards tokens and BSC security. Boasting a powerful and innovative rewards system, Aurum holders have the freedom to select any BEP-20 token as an automatically redistributed reward straight to their wallet, increasing the ease and convenience of portfolio diversification without the need for additional capital.
In terms of utility, the Aurum Secure Wallet, now powered by Chainlink for BSC tokens, aims to collate all the vital tools both new and experienced investors will need in one sleek, safe, and convenient app, offering live and accurate price feeds and portfolio value, inbuilt swap, NFT minting and much more.
To learn more about Aurum, visit https://aurumofficial.net/