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CODI FINANCE is Integrating Chainlink Price Feeds to Help Secure IDO Pools

We chose Chainlink as our go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. In addition, 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.

CODI Finance aims to be a leading cross-chain, decentralized IDO launchpad platform accelerating the fair and decentralized funding of next-generation DeFi projects. We intend to provide our users with a platform to access and invest in the best DeFi projects safely and securely.

To help secure our IDO launchpad pools, we need access to new asset prices supplied on-chain directly in a highly reliable manner. Furthermore, fair market asset prices should reflect a volume-weighted average from all trading environments. Thus, we needed to use an oracle to fetch aggregated price data off-chain and deliver it on-chain to be consumed by our application.

After reviewing various oracle solutions, we selected 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. As a result, Chainlink’s data aggregation model generates more accurate 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. In addition, Chainlink nodes have a strong track record of reliability, even during periods of high gas pri...
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