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- Chainlink and SAWA Crypto have partnered to bring real-time pricing to the latter’s DeFi offerings.
- The DeFi protocol is looking to tap into the advanced oracle offering of Chainlink to establish a footprint in Web 3.0.
The Chainlink Network ecosystem is growing at a very sporadic rate with its most recent integration by SAWA Crypto, a multi-chain launchpad, and Decentralized Finance (DeFi) protocol. According to an announcement from SAWA Crypto, integrating the Chainlink Oracles is a very thoughtful step in hitting its core decentralization goals.
.@SAWAProtocol—an omni-chain launchpad protocol—has integrated #Chainlink Price Feeds and Automation to help unlock a more seamless user experience.
Discover why Chainlink oracle services are critical for dApps looking to onboard #Web3 newcomers ⬇️https://t.co/f6UbBS9ZYl pic.twitter.com/1HklBMF1uT
— Chainlink (@chainlink) February 14, 2023
The multi-faceted platform says it plans to use the price feeds from Chainlink to denominate its crypto offerings. Through the Chainlink Price Feeds and Chainlink Automation tool, SAWA Crypto hopes to further simplify the process by which its users embrace DeFi products.
Originally, most price presentations on Decentralized Exchanges (DEXs) are offered in crypto terms. According to SAWA Crypto, this can be very confusing and difficult for newcomers to understand especially when there’s volatility in the market.
SAWA Crypto said a part of the benefit it will get from the partnership with Chainlink will be showcased through Oracle’s robust and high-quality data. These data it notes are;
sourced from numerous premium data aggregators like BraveNewCoin and Kaiko, leading to volume-adjusted global market prices with robust market coverage.
Besides the data quality, SAWA Crypto also hopes to enhance its system through the notable reliability of the Chainlink Nodes. The Chainlink price feeds are secured by a decentralized network of independent, security-reviewed, Sybil-resistant oracle nodes run by leading blockchain DevOps teams with a proven history of hyper-reliability.
SAWA Crypto considers this to be a major selling point in its bid to become a dominant force in today’s DeFi ecosystem.
Chainlink and SAWA Crypto: Additional Benefits
Besides the aforementioned benefits, SAWA Crypto also believes the Chainlink oracle will play a vital role in its reward distribution systems. The DeFi outfit said it will use the Chainlink Automation feature to power both its vested token and staking rewards distribution.
The platform noted that Chainlink Automation will help it solve two crucial challenges including cutting the time, effort, and chances of inaccuracies involved in developing its own system and offering trustworthy assurances of its services to all its users. Marcel Germanovich Botashev, Founder of SAWA Crypto stated;
- We are very excited to be a part of the Chainlink ecosystem. By integrating Chainlink Price Feeds and Automation as best-in-class oracle infrastructure, we were able to improve the reliability, transparency, and performance of our protocol, which will be especially important as we expand to capture more of the DeFi space.
Chainlink is the first decentralized oracle service provider in the digital currency ecosystem, and per its legacy, it remains the most robust serving the Web 3.0 world. With recent partnerships with OpenEarth Foundation as well as a host of other integrations, the Chainlink protocol has proven to be a formidable tool in reshaping different aspects of decentralized technology.
While there remains no known monetary information on the Chainlink and SAMA Crypto partnership, the oracle has facilitated more than $7 trillion in Total Value Enable (TVE) since its inception to date.
