Paralink is thrilled to collaborate with Genesis Shards, a new marketplace for pre-IDO tokens on NFTs powered by Polkadot. Genesis Shards was created to usher in a new paradigm for DeFi transforming NFTs into a liquidity vehicle for pre-IDO tokens, and to introduce a whole new suite of DeFi products across multiple blockchains.
Paralink’s oracles will play a key role in ensuring Genesis Shards platform acquires secure and reliable price feeds, and help import real world data from official and 3rd party sources. Paralink will also become a strategic partner of the Genesis Shards and forge relationships with early-stage DeFi projects in the GS ecosystem.
Multi-chain Oracles for Early Stage DeFi ecosystem
Paralink is a parachain with oracle quorums for Polkadot, providing reliable and trustworthy data sources to other parachains, such as real-time price feeds for decentralized markets. Without accurate, reliable and decentralized data feeds, blockchain applications such as prediction and derivatives markets cannot perform calculated actions as any corruption in price and data feeds can result in large financial losses.
Genesis Shards aims to ‘NFT-y’ the OTC market – transforming NFTs into a liquidity vehicle for pre-IDO tokens. By wrapping time-locked fungible tokens into NFTs, Genesis Shards is creating a new marketplace for previously illiquid tokens.
This partnership with Genesis Shards will make the platform more robust and efficient by using the secure, real-time price feeds relayed by Paralink’s Multichain oracles. Paralink entropy as a service inherently provides high quality hardware based randomness to users. For its part, Paralink will become a valuable partner of the Genesis Shards ecosystem and could potentially forge partnerships with promising early-stage DeFi projects within the Genesis ecosystem.
“Paralink is delighted about our new partnership with Genesis Shards. With this partnership, Genesis Shards & their partners will gain access to our robust data infrastructure to get reliable and accurate price feeds.”
– Jan Knežević, CEO of Paralink
“We are glad to announce our partnership with Paralink. The collaboration will provide GS access to their multichain oracles for high quality data feeds. With data being a significant aspect in the world of blockchains, employing on-chain consensus to deliver a high level of security is important. This is a major attribute of the Paralink Network ”
– Nilotpal Mukherjee, Genesis Shards Co-founder
About Genesis Shards
Genesis Shards is a decentralized ecosystem powered by Polkadot redefining NFTs as DeFi options, creating a permissionless environment of interchain liquidity for pre-IDO tokens. By wrapping time-locked fungible tokens into NFTs, Genesis Shards is creating a new marketplace for previously illiquid tokens.
Paralink Network offers a multi-chain oracle platform for DeFi and other blockchain applications. Applications that require the highest degree of security can use Paralink’s on-chain consensus algorithm, running on Polkadot Substrate. Paralink’s flexible node design allows developers to query for real-world events, sports, weather, random numbers and more. Developers can create custom queries using Paralink Query Language and connect smart contracts with traditional APIs within minutes.
Telegram Announcements: https://t.me/paralinkannouncements
Paralink Litepaper: https://docs.paralink.network/whitepaper/summary.html