We’re excited to announce that Seoul Stars — virtual K-pop artists in the metaverse — is integrating Chainlink Price Feeds on Solana. By integrating the industry-leading decentralized oracle network, Seoul Stars will have access to high-quality, tamper-proof price feeds needed to enable multiple cryptocurrencies to be used in the Seoul Stars metaverse and marketplace. This will provide our users with stronger assurances that every mint, sale, concert, or transaction on the Seoul Stars platform is priced accurately according to the current global market rates.
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.
Seoul Stars is a virtual NFT in the metaverse that currently offers Yuna as the first virtual K-pop artist in the Solana blockchain. By creating Yuna, we have a figure that is not bound by time or space due to its virtual nature, allowing the community to share timeless moments of Yuna which include virtual concerts, music albums, and other perks that holders will get as the development of Yuna advances.
In order to help secure an easier payment system in the metaverse with Yuna, we need 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 an 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 selected Chainlink Price Feeds because they provide a multitude of critical features such as:...