AllianceBlock Deploys a Chainlink Price Feed to Bring ALBT to DeFi Markets

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AllianceBlock is excited to announce that we have launched an ALBT/USD Price Feed on Ethereum, enabled by Chainlink’s industry-leading oracle technology. We have already integrated the Price Feed in the recently released Payment Portal update for AllianceBlock Liquidity Mining as a Service (LMaaS), our liquidity mining and staking solution. This Price Feed helps us provide our clients with the most accurate price information about ALBT, which will help further increase the reach of the token to other AllianceBlock products and even to third-party DeFi platforms. This development is yet another step in our long-term integration of Chainlink’s decentralized services.

The ALBT/USD Chainlink Price Feed helps improve LMaaS’es new premium service and increase the reach of ALBT

Adoption of our liquidity mining and staking product has been growing rapidly since its release in early 2021. With a number of new and returning clients, dozens of successful campaigns, and up to 60,000,000 USD total value locked (TVL) in 2021, the time has come to introduce a premium version to this platform. To ensure a seamless experience for our clients, we needed to implement a source of high-quality price data backed by robust oracle infrastructure. For this, we turned to the most time-tested decentralized oracle network, Chainlink. Chainlink Price Feeds actively helps secure $75+ billion in smart contract value, showing exceptional resilience during high market volatility and network congestion.

Chainlink Price Feeds can be integrated on AllianceBlock DEX, Wallet, and third-party platforms

AllianceBlock’s native token can now be easily integrated into a number of our products further down the line. For example, we can extend the ALBT/USD Price Feed to our decentralized exchange or the future AllianceBlock Wallet to help ensure ALBT transactions represent the most accurate price of our token. Furthermore, this Chainlink Price Feed can extend the reach of our token throughout the DeFi ecosystem by being implemented in third parties such as lending and borrowing platforms, yield farming protocols, and more.

Matthijs de Vries, CTO and Co-Founder of AllianceBlock, had this to say about the new integration:

“As we continue to build on the success of LMaaS and roll out new products, it’s important we’re laser-focused in expanding the uses of our platform. To help ensure both seamless user experience and increased exposure for our token, establishing a reliable Chainlink Price Feed that can be integrated not only in our tech but across the industry is a no-brainer. We’re excited to leverage Chainlink oracles to bring our native token to new markets, enabling it to be quickly and securely integrated into our ecosystem and across the industry.”

About ChainlinkChainlink 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 AllianceBlock

AllianceBlock is bridging the gap between decentralized and traditional finance by remedying issues in both spheres and closely linking them. They see the future of finance as an integrated system in which the best of both worlds can work together to increase capital flows and technological innovation.

We are building this future by bridging traditional finance with compliant, data-driven access to new decentralized markets, DeFi projects, and ecosystem-scaling tools such as funding and interoperability. As such, they are building a next-generation financial infrastructure that aims to provide regulated financial entities worldwide with the tools they need to access the DeFi space seamlessly.

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