Deviant Finance has integrated Chainlink (LINK/USD) Price Feeds on Avalanche (AVAX/USD), Invezz learned from a press release on Medium. Deviant Finance now offers access to high-quality, tamper-proof price feeds needed to fetch accurate pricing by integrating the leading decentralized oracle network.
The feeds will help systems run reliably based on actual market prices, providing users with assurance that Deviant’s reserve currency model references reliable, highly secure price data.
Benefits of the Deviant Reserve Currency System
Deviant wanted to solve the issue with DeFi’s dependence on the US dollar. To this end, they created the DRCS (Deviant Reserve Currency System), an entirely new asset class for value-bound reserves. The DRCS facilitates natural price discovery. It only intervenes if the market price fluctuates too wildly.
Deviant chose Chainlink because they provide a multitude of critical features such as:
Secure Node Operators — Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises. Chainlink nodes have a strong track record of reliability, even during high gas prices and infrastructure outages.
Reputation System — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical and real-time performance of node operators and oracle networks.
High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that’s aggregated from hundreds of exchanges, weighted by volume, and cleaned of outliers and wash trading. Chainlink’s data aggregation model generates more precise global market prices that are inherently resistant to inaccuracies or manipulation of any single or small set of exchanges.
Decentralized Network — Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or oracle network.
Dennis Ehmann, Deviant Finance Co-Founder, commented:
Using Chainlink Price Feeds enables our users to leverage battle-tested security in the DRCS!
Deviant is very excited about the integrations with Chainlink and is looking forward to expanding to other blockchains with the help of Chainlink technology.
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