The multi-blockchain DeFi derivatives platform is integrating with the oracle provider for the Solana network.
Another Protocol in Solana Picks Chainlink
Chainlink announced that ClearDAO is integrating the price feeds from the oracle network on Dec. 2.
The protocol will use the tamper-proof price fees to perform advanced calculations to determine the fair price of crypto derivatives contracts on their platform. Clear’s Software Developmental Toolkit (SDK) offers templates and tools that enable developers and traders to easily create options, notes, futures, swaps, and even launch marketplaces to allow the trading of these products.
“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,” mentioned the official Medium blog about the integration.
As previously reported by Solana.News, Parrot, the decentralized liquidity network integrated with Chainlink on Nov.18 that is now used to accurately calculate the collateral requirements and liquidate loans on the lending platform.
Prior to this on Nov. 9, a leading DEX in the Solana ecosystem, Saber announced support for Chainlink’s price feeds for 7 trading pairs on their platform. The DEX even suggested that any project that is compatible with Saber’s LP tokens or the DEXs native token, SBR, should use price feeds from Oracle as well.
What is ClearDAO?
ClearDAO is an object-oriented protocol for open derivatives that allows users to control risk rationally and effectively. Essentially the protocol attempts to create a derivatives ecosystem wherein users can freely assume seller and buyer positions to seamlessly create any financial derivatives with a controllable risk profile.
Find more about ClearDAO here:
Source : solana.news
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