We’re excited to announce that Paralink has partnered with OpenDeFi. OpenDeFi is a global initiative to develop the decentralized financial ecosystem and advance the collaboration of DeFi projects across borders and blockchains. Its goal is to enable secure, liquid, and global DeFi markets.
This partnership will allow the whole OpenDeFi network to utilize Paralink’s multichain oracles and acquire reliable data feeds and pricing for the members and apps on the network.
Integrating Multi-chain oracle solutions into global DeFi markets.
Through intensive programs and forums, OpenDeFi’s consortium of members come together to develop a massive DeFi market opportunity, envision new systems for managing risks in DeFi, and co-create cross-border DeFi opportunities and offerings. It offers a range of solutions such as Regulatory Framework, Insurance, Liquidity Pooling, Algorithmic Trading, Financial Engineering, etc.
However, 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.
This is why the integration of Paralink’s Multi-chain oracles into the various networks under the OpenDeFi consortium will be hugely beneficial to the whole ecosystem. It will allow the OpenDeFi members to access cross-chain asset pricing and real-world data for the money markets and other Decentralized markets.
Established by Conflux Network and other founding members, OpenDeFi is a member-led organization composed of industry leaders from around the globe, combining deep expertise in DeFi applications, investing, eastern-western markets, algorithmic trading, protocol engineering, Web3.0 technologies, and smart contract innovations.
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