Chainlink Price Feeds Now Available on Arbitrum

Chainlink Price Feeds Now Available on Arbitrum

Tracer revealed that Chainlink Price Feeds would be integrated as part of its trustless financial contract system. It further revealed that the interface already went live on the Arbitrum mainnet. Hourly Chainlink Price Feeds are used by Perpetual Pools to calculate the value transfer between the short and long sides of a pool and to move funds among participants in the pool.

DeFi customers can now acquire non-liquidatable, completely exchangeable tokenized power on a system protected by permissionless oracle technology. The following Chainlink Price Feeds will be used in the first assimilation: ETH-USD and BTC-USD, with the possibility to expand in the future to suit ecosystem needs.

Perpetual Pools is a modern funding fundamental that lets one trade any underlying asset for a short and long position. These holdings are non-liquid, fully collateralized, completely exchangeable, and can persist indefinitely without maintenance – they remain as ERC20 leverage tokens in one’s wallet. These tokens allow one to interact with the DeFi market seamlessly – users may mint their opinions (short or long) and leverage exposure to them with these tokens.

The benefit of these leveraged tokens is that they may be used to receive TCR incentives. This can be done by staking and minting in Tracer’s staking contracts via the Perpetual Pools interface, which is extremely simple to use.

Tracer DAO chose Chainlink Price Feeds after evaluating different oracle alternatives as they provide access to top-quality data, general market coverage, and a rigorous oracle system that has been demonstrated to be dependable during severe network issues, as well as numerous on-chain tracking systems that allow the user to check the authenticity and effectiveness of oracle channels. This produces reasonably precise, fast, tamper-proof, and transparent price data sources that Tracer’s smart contracts may ingest in a single function call on-chain.

Tracer’s platform gives customers access to any virtual and real-world marketplace by constructing straightforward derivative contracts with an oracle price feed. Numerous new local and worldwide markets can be developed by transferring current price information on-chain with strong availability, accuracy, and vandal-resistance assurances, allowing both people and organizations to control their risks.

Users can secure their prices using a basic, simple derivative contract rather than being at the whim of shifting market rates (for example, fuel costs). Tracer can acquire marketplaces as soon as a trustworthy pricing oracle is available, thanks to its quick, zero-permission deployment for Perpetual Pools.

About Tracer

Tracer is an accessible derivatives smart contract system that allows anyone to create a derivatives market using a Tracer Factory design to adopt digital and actual economic risk.

The first derivatives marketplace to go live is Tracer Perpetual Pools, a unique fundamental. There is no room for error. There will be no liquidations. Tokens are completely exchangeable in the DeFi system.

About Chainlink

It is the industry standard to create, obtain, and distribute oracle solutions. These are required to run hybridized smart contracts on all blockchains. Smart contracts may link to any external API and use safe off-chain analytics to enable feature-rich apps thanks to Chainlink oracle systems.

About the author

Ellis Coles

Ellis Coles is working at as editor. He has a great knowledge of cryptocurrencies. He covers all the latest information regarding cryptocurrency, blockchain technology, along with technical analysis.

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