ChainLink Oracle has proven to be most reliable judging from the number of on-chain integrations with other blockchain platforms in recent months. The latest was announced by Syfin, which recently launched an automated market maker platform for NFTs.
According to the update seen by Cryptoinfowatch, WraitSwap, the AMM launched by Syfin would be referencing live market data provided by ChainLink due to the reliability of the oracle service and its robust security.
The ChainLink price feed known as Fanthom has been deployed on the Fanthom Opera Mainnet and features a robust aggregated data from hundreds of sourced, weighted and filtered to produce the most reliable real-time market information.
The release added that users of the platform will derive greater benefit from the ChainLink pre-funded price feed which would ensure accurate quotes that reflect market realities and a point of reference for buyers and sellers of NFT artworks.
It stated that:
“Chainlink’s historical performance in helping secure tens of billions of dollars in on-chain value for the DeFi ecosystem and easy integration is the reason as to why we have launched with Chainlink.”
NFT marketplace @Syfinance & its AMM protocol @wraithswap integrated Chainlink Price Feeds on @FantomFDN. Chainlink decentralized oracles supply #NFT buyers/sellers with accurate exchange rates & AMM users with real-time benchmarks before executing swaps. https://t.co/UXfZQQciVv
— Chainlink – Official Channel (@chainlink) October 13, 2021
Chainlink provides more exact data due to its configuration and multiple data sources. It is a decentralized platform that also features monitoring tools that makes its data feeds transparent and reliable.
Most NFT marketplaces are reasonably central entities, Syfin brings the DEX to the marketplace. You’ll however need to swap to the Fanthom network through Metamask to use the platform.