PancakeHunny sets out to tighten the security of protocols upon witnessing the growing amount of threats and exploitations amongst DeFi platforms and to prevent any potential flash loan attacks, we’re excited to announce that we are now securing hives using Chainlink Price Feeds — the industry standard for decentralized price oracles.
Our initial integration, now live on the BSC mainnet, involves the use of Chainlink Price Feeds for BNB/USD and CAKE/USD. Chainlink Price Feeds are the most widely used and time-tested oracle solution throughout the DeFi industry, collectively securing tens of billions of dollars in users' funds across the largest DeFi projects and blockchains. Most importantly, Chainlink Price Feeds are flash loan resistant because they provide financial market data in a decentralized manner that reflects the volume-weighted, market-wide price aggregated from across centralized and decentralized exchanges.
So while DEX-based price oracles can be easily manipulated because they only represent the current exchange rate of a single exchange, Chainlink Price Feeds represent the aggregate exchange rate across the whole market and therefore can be manipulated because one exchange or a small group of exchanges is inaccurate. As such, any flash loan attacks on DEXes cannot skew the exchange rate of the CAKE and BNB tokens being consumed by PancakeHunny.Securing the PancakeHunny Ecosystem With Chainlink
PancakeHunny is a yield aggregator built on top of Pancake Bunny, designed to help token holders maximize their profits by strategically deploying their capital across different DeFi protocols and yield farming strategies. PancakeHunny offers a wide selection of Hives (yield vaults) that automatically reinvest yield farming profits into the desired token by users, auto-compounding returns to increase ROI.
PancakeHunny requires the use of pr...