Unizen’s CeDeFi Ecosystem Now Powered by Chainlink Price Feeds
We are happy to announce the integration of Chainlink Price Feeds into the Unizen CeDeFi exchange, empowering our users to make informed decisions based on accurate, up-to-date, and tamper-resistant price information. Our integration of Chainlink Price Feeds, starting with ETH/USD, is an important step forward for our ecosystem, as Chainlink Price Feeds are the most widely relied on throughout DeFi and increasingly CeFi to determine the real-time value of cryptocurrency assets.
Trading exchanges naturally deal with a lot of data on market movements, such as cryptocurrency prices, purchase history, and order book liquidity. For crypto exchanges, it’s particularly important to maintain a highly reliable ETH/USD feed because both assets are among the most heavily used when trading crypto. An exchange can only operate properly if there’s hyper-reliable information on their exchange rate.
If a user wants to trade fiat or crypto, the Unizen exchange has to provide the current fair-market exchange rate of both assets. Chainlink Price Feeds offer us a specialized way of collecting, aggregating, and delivering consistent and precise real-time price updates on a variety of assets.
One of the main reasons why we decided to integrate Chainlink is because it is a fully decentralized system, supported by a large ecosystem of participants in DeFi and CeFi. Unizen now includes a bridge between our exchange interface and Chainlink, meaning the ETH/USD price users rely on will automatically be updated according to the rates given by Chainlink.
Some of the unique benefits of Chainlink Price Feeds for Unizen include:
● Accurate trading data: Stable price feeds that accurately report the changes on centralized and decentralized markets. 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 suspicious volumes.
● Data security: Unizen doesn’t want a single point of failure in its key data feed; data security is enhanced by the world’s largest and most proven decentralized price feed network. Chainlink Price Feeds decentralize the data sourcing and data delivery processes, generating strong protections against tampering by a single or small set of exchanges.
● High reliability: no single entity can tamper with the price data, meaning Unizen’s users can be assured of the objective analysis of price data because the information is supplied and evaluated by large groups of independent entities. Chainlink Price Feeds are secured by security-reviewed, Sybil-resistant nodes run by leading blockchain DevOps teams and traditional enterprises with a strong track record for reliability during market volatility.
● Scalability: both on retail and institutional levels, Unizen is aiming to support large trading volumes using aggregated liquidity. A price feed that could support a large-scale service like that should be highly decentralized, fast, and technologically impeccable. Chainlink’s OCR client and support for high-throughput chains ensures it meets all of these criteria, as well as alongside Unizen’s increasing pace of growth.
Unizen aims to deliver a superior trading experience, and providing a reliable price mechanism is a crucial part of this process. Integrating the most globally recognized decentralized price feed infrastructure is a big step towards executing our vision for Unizen as a compliant liquidity provider and all-in-one exchange.
Assuring data reliability and security for our price feeds is a big milestone. Choosing Chainlink is a big step towards achieving this goal. To support a powerful CeDeFi ecosystem, we needed reliable, fully decentralized, and secure price data, and we received this with Chainlink Price Feeds.
Sean Noga, CEO
Unizen is a 360° compliant liquidity solution for aggregating all aspects of the digital asset economy into a single seamless interface. A trading infrastructure built on multi-chain deep liquidity from best-in-class centralized and decentralized sources, eliminating the need for trading platform alternatives. Social sentiment indicators, driven by AI learning, enhance the trading experience for users in search of both traditional and emergent cryptocurrency listings. ZenX incubator discovers, accelerates, and delivers the next generation of digital assets exclusively to Unizen.
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.