Twin Finance platform integrates Chainlink price feed

By July 23, 2021DeFi
Click here to view original web page at finance.yahoo.com

Twin Finance – a synthetic token creation platform built-on the Binance Smart Chain mainnet – has become the latest innovative DeFi offering to integrate Chainlink’s market leading price feed.

Chainlink’s tamper-proof decentralised oracle network provides a secure and reliable live price feed, that will enable Twin Finance to secure the pricing and collateralisation of synthetic token assets created on the platform.

This is essential for ensuring tokens created on the platform maintain real fiat value in accordance with live market price action, utilising a secure oracle that’s free from any price manipulation.

Chainlink is one of the industry’s leading oracle solutions, made popular because of its seamless integration and the reassurance of being a time-tested oracle for numerous leading DeFi protocols.

The oracle has a strong reputation as a tamper-proof solution, with responsibility for executing billions in smart contract value – and a solid track record of avoiding downtime, flash crashes, and data manipulation attacks.

Twin Finance operates a platform for synthetic token creation, which aims to broaden available blockchain offerings into wider assets such as metals, indices, and funds – all of which require extremely accurate pricing information.

“Fair market asset prices should reflect a volume-weighted average from all trading environments.

This makes Chainlink an ideal choice for the Twin Finance platform, which has use cases in long-term investing, shorting and speculating on digitised assets and crypto, and unique stablecoin minting mechanisms.

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