OptionPanda Integrates Chainlink Price Feeds on BSC Mainnet
OptionPanda (https://opanda.io) has successfully integrated the market-leading Chainlink Price Feeds on mainnet to provide safe and accurate price data for its option trading pairs on BSC. This integration enables users to obtain timely premium quotations when trading, thereby enabling trading decisions to be based on reliable information. It also allows for the precise and tamper-proof settlement of options at the time of expiry, along with future plans for integration for Implied Volatility feeds. By relying on the feeds from Chainlink, OptionPanda manages to avoid a single point of failure that may occur during data procurement and transmission, and thereby provides users with better decentralized option trading services.
Our initial launch involves using the following Chainlink Price Feeds: BTC-USD, ETH-USD, and BNB-USD, with the ability to easily scale up to support more assets or even more exotic option types.
Oracles Empower DeFi Options
Chainlink is the most widely used oracle solution in the market. Through retrieving information from quality data aggregators, Chainlink creates highly accurate and usable on-chain prices that are immune to data manipulation and downtime. Users can also access publically-available visualization tools to oversee all price feeds in real time, including current price, price updating method, node maintenance, etc.
With Chainlink, developers can connect any blockchain to provide a uniform framework for all trading pairs on OptionPanda both now and in the future. The Chainlink integration enables Option Panda to access secure, reliable, and real-time price information which possesses the advantages of high stability and tamper resistance. Chainlink achieves this through several technical features:
• High-Quality Data — data is sourced from numerous premium data aggregators like BraveNewCoin and Kaiko, leading to volume-adjusted global market prices with robust market coverage.
• Reliable Nodes — price feeds are secured by a decentralized network of independent, security-reviewed, Sybil-resistant oracle nodes run by leading blockchain DevOps teams with a proven history of hyper-reliability.
• Decentralized Infrastructure — both the data sourcing and transmission on-chain are decentralized, removing any central point of failure.
• Blockchain Agnostic — Chainlink is blockchain agnostic and already live on BSC, making it straightforward integration with the ability to quickly expand Option Panda into new blockchain environments in the future.
Option Panda Co-founder Nathan Li says, “We seek to use Chainlink to bring DeFi benefits to users by providing secure and reliable price oracles for accurate option contract settlements, creating a secure and efficient market for users trading options. With Chainlink Price Feeds already time-tested and built to the highest security and data quality standards, integrating them as our price oracle solution allowed us to accelerate a secure launch of Option Panda on BSC.”
About Option Panda
Option Panda is a decentralized platform for option trading. It seeks to support several networks including BSC, Ethereum and Heco, and provide transparent, convenient, and efficient trading experience for users.
Chainlink is the most widely used and secure way to power universally connected 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.
Chainlink is trusted by hundreds of organizations to deliver definitive truth via secure, reliable data feeds. To learn more, visit chain.link, subscribe to the Chainlink newsletter, and follow @chainlink on Twitter.