apM Coin to Integrate Chainlink Price Feeds to Enhance Credibility and Security of its Service
We are pleased to announce that apM Coin will integrate Chainlink’s market-leading oracle network to access decentralized price feeds used for our digital asset-applied services on our customer rewards management platform. This integration will ensure that apM Coin’s users will receive provably fair, transparent, and stable digital-asset based services in association with on-/off-line business transfers between wholesalers and buyers in apM, apM PLACE, and apM Luxe.
apM Coin project’s customer reward platform will be adopted in the malls of apM Group, the market leader in Korea’s wholesale fashion industry. apM Group has three wholesale fashion shopping malls: apM, apM PLACE, and apM Luxe. The malls include 1,300+ merchant wholesalers and more than 10,000 average daily customers, totalling more than 1.5 million visitors annually. Among their customers, more than 80% are global buyers running their own clothing distribution business or retails and travelling from neighbouring countries of Korea. The project aims to build the market’s first customer reward platform equipped with a customer relation management (CRM) system, which enables the malls to improve customer services and provide the wholesalers with market insights for sustainable business development.
Chainlink is the industry-standard blockchain oracle network, connecting blockchains to data and systems in the outside world. Chainlink’s proven oracle technology is leveraged by numerous blockchains such as Ethereum, Polkadot, and Avalanche; as well as large enterprises including Google, Oracle, and SWIFT. Additionally, their widely used decentralized Price Feeds collectively secure over $4 billion in digital asset value for many leading blockchain projects like Synthetix, Aave, and Kyber Network.
In order to enhance the credibility and stability of apM Coin’s digital asset-based services, the project will utilize Chainlink oracles to attain a decentralized exchange rate for converting its tokens to its other digital assets. By relying on Chainlink, apM Coin will be able to provide fairer token values via an aggregation of price data from multiple high-quality data providers, increased reliability using a decentralized network of secure oracle nodes to deliver prices to our platform, and unforeseen transparency that users can independently monitor. Integrating Chainlink removes the apM Coin team from the process of calculating its token price for its digital asset-applied services, ultimately bringing more trust to the process.
Following the initial integration, we plan to adopt more Chainlink oracle data solutions as a means of developing our customer reward management platform in a more secure, reliable, and stable manner. One such solution will be to enhance our CRM data management system as well as our digital asset-applied services via the apM Members mobile app.
Chainlink is the most widely used and secure way to power universal smart contracts. With Chainlink, developers can connect any blockchain with high-quality data sources from other blockchains as well as real-world data. Managed by a global, decentralized community of hundreds of thousands of people, Chainlink is introducing a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance and gaming ecosystems, among others.
About apM Coin
apM Coin project is planning to launch its customer reward platform which will be deployed in the most popular B2B fashion shopping malls apM, apM PLACE and apM Luxe. apM malls — where apM Coin’s service is to be adopted — is housing over 1,300 wholesale brands with annual cumulative visitors exceeding 1.5 million. Additionally, more than 80% of the visitors are global buyers based outside of Korea. The project will release its service through apM Members mobile app, targeting wholesalers and customers of apM shopping malls.