The blockchain-based payments project and DeFi ecosystem of Pundi X has integrated Chainlink price feeds
to power its rewards system as well as its various synthetic assets.To begin with, the Chainlink price feeds will ensure that Pundi X’s platform rewards and discounts are distributed at fair market values. Secondly, Chainlink price feeds will power Pundi X’s synthetic assets on its Decentralized Exchange using accurate data from stocks, ETFs, commodities and indices.
The team at Pundi X went on to explain that their choice of Chainlink
was based on the project’s track record of delivering quality data with almost zero downtimes or instances of attacks through flash loans. They explained:We selected Chainlink as our go-to oracle solution because it provides high-quality data using time-tested oracle infrastructure that’s proven to secure tens of billions of dollars for leading DeFi projects.
Chainlink Price Feeds are well known to supply accurate and up-to-date asset prices reflective of global markets, as well as possess built-in resistances to a variety of unexpected situations like API downtime, flash crash outliers, and data manipulation attacks via flash loans.
The team at Pundi X went on to specifically highlight the following four reasons as to why they chose Chainlink price feeds.