THELOGICALINDIAN - Crypto barter OKCoin has appear the barrage of an answer account to accommodate reliable amount feeds to assorted bazaar participants
OKCoin, a arch fiat-focused agenda asset exchange, today appear the OKCoin Oracle, a active amount augment that can be acclimated for reliable on-chain pricing.
This is allotment of OKCoin’s mission to abutment the decentralized accounts (DeFi) ecosystem with the OKCoin Oracle acceptable a trusted antecedent of active bazaar data. It supports on-chain appraisement for Compound Finance, a permissionless money bazaar account that allows users to acquire absorption on their crypto assets.
For added information, appointment OKCoin’s blog.
“Accurate on-chain appraisement added the angary of the DeFi ecosystem, ensuring end users are accepting absolute advice that is active by OKCoin,” said Hong Fang, OKCoin CEO. “As a adapted cryptocurrency exchange, our ambition is to authorize assurance aural the crypto economy. Providing a reliable amount augment is allotment of that mission.”
The OKCoin Answer is an API endpoint accessible to anyone, not aloof OKCoin customers, The amount augment is active by OKCoin, and the clandestine key anchored by our accurate infrastructure. Our ambition is to accommodate the DeFi ecosystem a reliable antecedent of amount information, allowance abolish or abate accepted answer vulnerabilities.
OKCoin Oracle acts as a trusted antecedent of bazaar data, and anyone can broadcast OKCoin appraisement on-chain. Once on-chain, OKCoin is absolute as the antecedent of the data, application the OKCoin Oracle accessible key. More reliable and accurate amount feeds abate systemic vulnerabilities in the DeFi ecosystem and accord to creating a safer ambiance for avant-garde projects and agog users.
DeFi has developed decidedly over the accomplished 12 months, with a 210% access in deposited USD acknowledging centralized applications (dApps) spanning borrowing, lending, and more. According to DeFi Pulse, there is now USD 2.28 billion bound in DeFi acute contracts.
DeFiprime.com lists 207 dApps beyond the new banking ecosystem, with 196 of those congenital on Ethereum acute contracts. Many protocols await on a amount feed, application the abstracts to acquaint absorption rates, abutment value-stabilizing algorithms, and accommodate authentic bazaar updates to users.
“Having a reliable augment for on-chain amount abstracts is analytical for DeFi advance and use of Compound. This accomplishment from OKCoin is an important addition to the decentralized accounts ecosystem,” said Robert Leshner, Compound CEO.
Other DeFi protocols that crave a reliable amount augment accommodate lenders like Compound, Maker (DAI), Aave, and dYdX and decentralized exchanges (DEXes) like Balancer, Bancor, and Kyber. Learn added about DeFi.
