Kal Ali | December 15 2020
Kal Ali | December 15 2020
Orion Protocol, the DeFi platform that will provide a gateway to the entire crypto market, is pleased to announce that it’s expanding its existing integration with Chainlink, the market-leading oracle network. In this second phase of integration, Orion Protocol will provide data from its advanced liquidity aggregator to Chainlink’s price oracle networks, adding a source of high-quality data from the entire cryptocurrency market for smart contracts consuming Chainlink Price Feeds.
Chainlink is a decentralized oracle network that allows public blockchains and smart contract platforms to use external, off-chain data to trigger on-chain operations without sacrificing on security and reliability. Chainlink Price Feed oracles currently secure billions in value across leading DeFi protocols, including Aave, Synthetix, and yearn.finance.
Orion Protocol is a decentralized liquidity aggregator, offering the first non-custodial gateway to all the liquidity available in the crypto market. Orion Protocol will make this possible by aggregating the liquidity of every centralized exchange, decentralized exchange, and swap pool in the market. Through Orion’s flagship product, the Orion Terminal, all major exchange liquidity will be aggregated into one decentralized trading terminal. The first iteration of Orion Terminal is now live.
On their advanced liquidity aggregator, Orion Protocol is building a stack of B2B solutions for blockchains, exchanges, and crypto projects, including Orion Oracle. By eventually aggregating every exchange order book and trading pair in the market, Orion Protocol makes Chainlink’s tamper-proof oracle network hyper-resilient to price manipulation due to price derivation across order books. This is incredibly advantageous to external DeFi products that have been regularly exploited due to the insecure design of price oracle mechanisms that do not provide broad market coverage.
As of today, Orion Protocol will begin providing the Chainlink Network with trading data, making Orion Protocol’s data available to other DeFi dApps via oracle nodes in the Chainlink Network. The decentralized structure and real-time price feeds from all centralized exchanges, decentralized exchanges, and swap pools in the market will provide smart contract developers who use Chainlink with rich, high-quality data to enhance their DeFi smart contracts, ensuring broad cryptocurrency market coverage and further hardening Chainlink’s security and reliability guarantees.
This development comes as a second stage of integration for the pair this quarter, following Orion’s integration of Chainlink for securing the collateralization of Orion’s Decentralized Brokerage. Integrating the Chainlink Network secure, decentralized Price Feeds is an important step in bringing trustless settlement to the Orion Protocol, particularly by ensuring that all broker services are fully collateralized by ORN. Orion Protocol will use and support an upcoming Chainlink-powered ORN/ETH price oracle, as well as integrating all price oracles available.
Chainlink is the most widely used and secure way to power universal smart contracts. With Chainlink, developers can connect any blockchain with high-quality data sources from other blockchains as well as real-world data. Managed by a global, decentralized community of hundreds of thousands of people, Chainlink is introducing a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance and gaming ecosystems, among others.
Chainlink is trusted by hundreds of organizations to deliver definitive truth via secure, reliable data feeds. To learn more, visit chain.link, subscribe to the Chainlink newsletter, and follow @chainlink on Twitter.
About Orion Protocol
Built on the most advanced liquidity aggregator ever developed, Orion Protocol solves some of the largest issues in DeFi by aggregating the liquidity of the entire crypto market into one decentralized platform.
Governing the protocol is the proprietary staking mechanism Delegated Proof of Broker, fulfilling every function via a decentralized brokerage with the ORN token at its core. This underpins each industry-critical solution built on the protocol, including the flagship product Orion Terminal: aggregating all major exchange liquidity into one decentralized terminal.
Orion Enterprise provides much-needed solutions for businesses in the space, including blockchains and exchanges, while their roadmap includes a price oracle and a high-margin DEX.