Planet Inverse Integrates Chainlink Price Feeds to Help Secure Accurate and Updated Pricing Data.
We’re excited to announce that Planet Inverse — a Prediction DeFi Ecosystem — has integrated Chainlink Price Feeds on Binance Chain mainnet. By integrating the industry-leading decentralized oracle network, Planet Inverse has access to high-quality, tamper-proof price feeds needed to access real-time and accurate pricing data to facilitate staking rewards on our prediction platforms. This will provide our users with stronger assurances that pricing data to determine staking rewards is accurate and precise..
Our initial integration involves the use of the following Chainlink Price Feeds:
ETH / USD, BTC / USD, BNB / USD, LINK / USD, FTM / USD, AVAX / USD, SOL / USD, MATIC / USD.
We chose 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.
PLANET INVERSE is a Prediction DeFi Ecosystem built on a foundation of four interoperable platforms and the XIV utility token.
In order to help secure our pricing data feeds, we 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, we needed to make use of an oracle network to fetch aggregated price data off-chain and deliver it on-chain to be consumed by our application.
After reviewing various oracle 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.
We will continue to use Chainlink services in the future. In addition to Chainlink Data Feeds, we look forward to integrating Chainlink Verifiable Random Function into our future platforms such as Collective Vault and Replica.
“Planet Inverse is committed to providing our users with the most accurate and manipulation-proof data. With Chainlink price feeds integrated into our platforms, we can assure our users of the precision and high-quality of all pricing data utilized on our platforms.”
⁃ Arkayn, Co-founder Planet Inverse
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 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.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link. To discuss an integration, reach out to an expert.
About Planet Inverse
PLANET INVERSE is a Prediction DeFi Ecosystem built on a foundation of four interoperable platforms and the XIV utility token.
The INVERSE IN-LINE platform allows users to take advantage of the volatility of select assets. Users earn gains in the form of XIV based on the movement of assets being tracked.
With this prediction staking platform, users track the movement of select assets and earn gains based on trends.
Powered by XIV, Collective Vault allows users to pool their assets and share in the collective gains from earned staked rewards.
Replica is a perpetual synthetic staking platform which offers users the potential for dynamic gains by transforming their staked XIV into different synthetic assets.
