We are pleased to announce that our integration with Chainlink Price Feeds is now expanded to include decentralized price oracles for a variety of new assets including cryptocurrencies, crypto indices, real-world indices, fiat currencies, and the world’s most popular commodities.
Not only will we be leveraging Chainlink oracles on Ethereum, but thanks to the recent integration of Chainlink on Binance Smart Chain, Mettalex will also make use of Chainlink Price Feeds native to the Binance Smart Chain DeFi ecosystem.
Chainlink oracles ensure that opening and settling short or long positions on Mettalex is done in a provably secure and reliable manner reflective of fair market valuations that are inherently resistant to external manipulation. We selected Chainlink as our go-to oracle solution for a number of reasons, including:their dedication to providing high-quality price data sourced from data aggregators to prevent flash loan attacks; their use of decentralization at the oracle and data source level to ensure high availability and tamper resistance data feeds; their commitment to transparency wherein each oracle network and its individual nodes can be monitored in real-time by users. The Chainlink Network BTC/USD Price Feed Network Visualization
Mettalex markets supported by Chainlink Price Feeds now include:BTC BTC/ETH spread EUR GBP XAU XAG FTSE index sDEFI index sCEX index
We are confident that Chainlink’s Price Feeds will provide Mettalex users with the most optimal oracle solution in the market, as they are both time-tested and proven on mainnet, already securing over $5 Billion in USD value across DeFi. Having access to reliable real-world price data is essential for the provisioning of trading-related services on Mettalex, particularly to accurately price assets, which is then used in opening and closing positions.