The Force Protocol Integrates Chainlink to Power DeFi
We are excited to announce that the integration between The Force Protocol and Chainlink has been successfully completed. Chainlink provides price feed oracles in a decentralized manner, ensuring a secure and stable data source of token asset values to power our DeFi application.
The Force Protocol will use the Chainlink oracle network to calculate the value of collateral assets to create bonds, calculate the collateralization ratios, trigger conditions for supplementary collateral, and trigger conditions for collateral liquidations, among other uses.
We are excited that The Force Protocol will become a member of the Chainlink ecosystem, contributing to the growth and durability of the oracle network. Together, Chainlink and The Force Protocol will accelerate the expansion and adoption of decentralized finance.
Reasons For Choosing Chainlink
The Force Protocol is a development and operation team of a recently-released Ethereum DeFi application. In our app, the price of tokens needs to be frequently called to calculate the value of assets. Other oracle systems we reviewed have many limitations, such as over-centralization, poor security, and low data availability. Chainlink systematically solves the above problems and provides a secure, stable, and high-availability source of token prices for our DeFi application.
The core of our DeFi application is built on the value of underlying assets, so the need for reliable token prices is extremely high. If there is a security problem with the asset prices, such as an incorrect or manipulated price, it will directly affect the security of the DeFi application and potentially even destroy the security foundation of the application entirely. Therefore, a secure and stable decentralized oracle system is of great importance to us.
Seamon Liu, CTO of The Force Protocol, states “The core business characteristics of our DeFi application make the Chainlink oracle system an indispensable technical requirement. Its security, stability, and decentralization meet our fundamental needs perfectly. Going forward, we will find new ways to implement Chainlink at the technical level, and will actively participate in the growth of the Chainlink ecosystem.”
About The Force Protocol
The Force Protocol was established in June 2018, focusing on the development and application of crypto-open financial protocols. Its ForTube, a crypto-open financial service platform, includes four business segments: ForTube Bond, ForTube Bank, ForTube Qian, and ForTube Exchange. It provides individuals and institutions with investment, financing, and transaction services of crypto assets to meet the needs of different users.
If you’re a developer and want to connect your smart contract to existing data and infrastructure outside the underlying blockchain, reach out to Chainlink here. They can help you quickly and securely launch your data-enabled application or Chainlink Price Reference Data Contract on mainnet today. You can also visit the developer documentation or join the technical discussion on Discord. Learn more by visiting the Chainlink website or following them on Twitter or Reddit.
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.
The Force Protocol
Official website: https://www.theforceprotocol.com/
Telegram: https: //t.me/theforceprotocol666
ForTube website: https://beta.for.tube/home
Note: chainlinkecosystem.com does not claim any ownership of this content, all credit to Force Protocol, view official announcement.