Digitex Futures is integrating Chainlink’s Price Reference Data
Chainlink’s decentralized price oracles will be used as an “anchor” by the forthcoming derivatives exchange Digitex Futures to protect traders against slippage.
.@DigitexFutures is integrating Chainlink’s Price Reference Data as a price anchor for more secure & transparent price determination. Digitex is the 1st centralized cryptocurrency futures exchange to use decentralized oracles to improve platform security! https://t.co/5yLYrj3vh5
— Chainlink – Official Channel (@chainlink) May 25, 2020
Chainlink’s Price Reference model provides Digitex with three important features: accurate prices, manipulation resistance, and liveness guarantees. Its decentralized design ensures that a malicious or incompetent actor cannot hinder the quality of the price data or the reliability of the price update.
Additionally, the use of high-quality market data and secure node operators enforces high standards on each individual component of the network. Chainlink’s infrastructure is already relied upon for the security of millions of dollars by many leading DeFi applications.
“Chainlink provides Digitex with highly reliable and transparent price feeds that protect our users against the negative outcomes of abnormal market conditions or internal complications. Using Chainlink price data enables us to deliver stronger security and performance guarantees to our users, furthering our vision to revolutionize futures trading.” – Adam Todd, Founder and CEO of Digitex.
Digitex’s futures exchange opened on mainnet to selective user onboarding at the end of April. The platform currently plans to publicly launch during summer.
Chainlink is a decentralized oracle network that enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments. It is well known for providing highly secure and reliable oracles to large enterprises (Google, Oracle, and SWIFT) and leading smart contract development teams such as Polkadot / Substrate, Synthetix, Loopring, Aave, OpenLaw, Conflux, and many others.
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