BREAKING NEWS! has been acquired by VC firm Morningstar Ventures. Read more

$21.86 -3.27%
LINK · 7w

KAKI Integrates Chainlink Price Feeds for Reliable Asset Pricing in No-Loss Trading Game

KAKI Integrates Chainlink Price Feeds for Reliable Asset Pricing in No-Loss Trading Game

We’re excited to announce that KAKI — a no-loss options protocol — has integrated Chainlink Price Feeds on Binance Smart Chain mainnet. By integrating the industry-leading decentralized oracle network, KAKI has access to high-quality, tamper-proof price feeds needed to determine accurate pricing for the underlying assets in the KAKI options trading market. This will provide our users with stronger assurances that the price obtained in an options transaction is accurate, and help ensure a smoother transaction process between buyers and sellers.

Our initial integration involves the use of the following Chainlink Price Feeds: BNB/USD, ETH/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.

KAKI is a decentralized no-loss options protocol built on BSC and Arbitrum, dedicated to creating an options DEX for retail users, with DeFi at the core and gaming as an added benefit. Our mission is to lower the options threshold so that more long-tail users can participate and enjoy options trading.

In order to use the BNB token as an underlying asset in the KAKI trading game, 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 a blockchain 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 Chai...

Continue on
Recent News