Syfin the Oracles: The WraithSwap DeFi Platform and Syfin NFT Market Integrate Chainlink Price Feeds
Syfin.art recently launched WraithSwap, an innovative AMM and yield farming protocol that works as governance and reflection for Syfin. In order to help ensure that Syfin.art and WraithSwap are referencing the most up-to-date, secure, and accurate price data, we are excited to announce that we have integrated and are now sponsoring the widely used Chainlink Fantom Price Feeds that are currently deployed on the Fantom Opera Mainnet.
Buyers, sellers, investors, and collectors can now see the benefits of Chainlink’s large collection of pre-built and collectively funded Price Feeds. Price data provided by Chainlink Fantom oracles play a key role in Syfin.art and Wraithswap.finance by helping ensure correct asset valuations are referenced by users during NFT purchases and accurate exchange rates are referenced before conducting token swaps. Chainlink’s historical performance in helping secure tens of billions of dollars in on-chain value for the DeFi ecosystem and easy integration is the reason as to why we have launched with Chainlink.
Some of the notable features of Chainlink Price Feeds 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 more precise 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 with 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.
- Transparency — 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.
Over the coming months, we expect to integrate other off-chain Chainlink services such as Chainlink VRF and Chainlink Keepers into Syfin.art and WraithSwap.finance. Stay tuned for future details including an upcoming decentralized Fantom blockchain game!
“Integrating Chainlink Price Feeds into both the Syfin and WrathSwap protocols offered a quick and easy solution for giving our users high-quality, real-time, tamper-proof price feeds on various assets, along with making NFT purchases and token swaps.” — Founder of Syfin.art and WraithSwap
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 and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.
WraithSwap, is an innovative AMM and yield farming protocol on the Fantom (FTM) blockchain.
Wraith (WRA) is the governance, reflection, and yield farm token for WraithSwap our Automatic Market Maker (AMM) with voting rights. Users who hold 1,000 $WRA automatically earn $SYF dividends and can participate in creating governance proposals for both the Wraith and Syfin platforms.