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LBank Exchange Integrates Chainlink Price Feeds for Secure Perpetual Futures Prices

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Dubai, United Arab Emirates–(Newsfile Corp. – February 9, 2022) – We’re excited to announce that

Figure 1: LBank Exchange Integrates Chainlink Price Feeds

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. It stays secure and available even amidst unexpected network events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.

As a global digital asset trading platform that provides services to more than 6.4 million users across the world, LBank Exchange has created a secure, innovative, and trustworthy space for crypto traders since 2015. Like many platforms in the industry, we’ve initially used mark price to prevent unfair and unnecessary liquidations that may happen during high price volatility. But since leading exchanges tend to reference each other in terms of prices, there are risks that these prices lose their reliability when the market is highly volatile.

To help secure our perpetual futures trading process for users, 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 an oracle network to collect aggregated price data in a secure and reliable way, without relying on recursive centralized feeds.

After reviewing various oracle solutions, LBank Exchange decided to integrate 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, which gives us price data that comes from hundreds of exchanges, weighted by volume, and cleaned of outliers and wash trading. Chainlink’s data aggregation model generates more precise global market prices that are inherently resistant to inaccuracies or manipulation of any single exchange.
  • 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. Chainlink nodes have a strong track record of reliability, even during high gas prices and infrastructure outages.
  • Decentralized Network – Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or oracle network.
  • Reputation System – Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical and real-time performance of node operators and oracle networks.

After updating from mark price to fair market price via Chainlink, the new system will soon be widely adopted into futures price calculation, lending business expansion, various financial derivatives such as leverage, and other sections that involve user assets evaluation. By integrating with Chainlink, LBank Exchange will be able to provide users with more options for investment, and services with more precise asset value evaluation.

About Chainlink

Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts that can reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.

Learn more about Chainlink by visiting chain.link or read the documentation at docs.chain.link. To discuss an integration, reach out to an expert.

About LBank Exchange

LBank Exchange, founded in 2015, is an innovative global trading platform for various crypto assets. LBank Exchange provides its users with safe crypto trading, specialized financial derivatives, and professional asset management services. It has become one of the most popular and trusted crypto trading platforms with over 6.4 million users from now more than 210 regions around the world.

Start Trading Now: lbank.info

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Contact Details:
LBK Blockchain Co. Limited
LBank Exchange
[email protected]

PR Contact:
ZEXPRWIRE
[email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/113249

Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

Revolutionizing Fintech: 6G Digital & Rune Nilsson’s FlexM Global in a Bold $12.5M Deal Shaking the Banking Industry

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Teletubbies Digital Companions to Launch on the Tezos Blockchain

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MetaPals, an AI digital companion platform, is partnering with WildBrain’s beloved Teletubbies to bring together cherished childhood memories and the innovative digital era with the launch of the Teletubbies AI digital companions on 20 April, 2024.
As Teletubbies commemorates its 27th anniversary on 31 March, the collaboration marks the beginning of an exciting array of renowned IPs joining the ‘MetaPals Multiverse’ in 2024. Through the use of AI and blockchain technology powered by Tezos, much loved Tinky Winky, Dipsy, Laa-Laa, Po, and even Noo-Noo have become personalized, evolving digital companions within the MetaPals browser extension game engine.

The Teletubbies characters integrate with users’ daily browsing experience that accompanies users across the web, offering both playful interactions and practical assistance. This technology not only brings these fun characters to life in new, interactive ways, but also helps to enhance the mental well-being of users by fostering a sense of companionship.

Each Teletubbies companion within the MetaPals Multiverse will exhibit unique personality traits, offering users a diverse and dynamic experience. With personalities distributed across 5000+ Teletubby companions along a spectrum, users are guaranteed a one-of-a-kind experience, ensuring enjoyment for all and opportunities to foster new connections with this nostalgic brand.

Max Giammario, CEO of MetaPals, said: “Through this collaboration we’re not just revisiting Teletubbyland, we’re reinventing it for the digital age. By weaving in AI and blockchain, we enable the Teletubbies characters to evolve, interact, and form unique bonds with users, embodying our vision of dynamic digital companionship. With a bit of ‘MetaPals magic’, the Teletubbies are exploring beyond the hills and far away, ready to play, in ways we’ve never imagined.”

Melissa Goodrich, Director, Franchise Strategy at WildBrain, said: “We’re excited to see our colorful quartet come to life in new ways through this unique digital experience for fans. As we celebrate 27 years of the perennially popular Teletubbies franchise, this latest collaboration encapsulates the essence of childhood nostalgia while embracing the limitless possibilities of the digital age.”
Jason Lim, TZ Apac Games Adoption Team for the Tezos Ecosystem, said: “MetaPals will be pioneering the convergence of iconic IPs such as Teletubbies with the limitless possibilities of the Tezos blockchain. I can’t wait to see the magic they are brewing up next.”

The post Teletubbies Digital Companions to Launch on the Tezos Blockchain appeared first on HIPTHER Alerts.

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Alarum Announces Exciting Events Lineup and Welcomes Esteemed Advisor to NetNut’s Advisory Board

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