Platinum Engineering Team Will Integrate Chainlink to Support New DeFi Primitive “Margin Tool”
Platinum, the blockchain and decentralized finance (DeFi) software development company, is delighted to announce its planned integration of Chainlink Price Feeds to support the development and operations of a new Margin Tool for x5 leverage trading on Uniswap and Pancake. Platinum will use Chainlink’s market-leading decentralized oracles to estimate the price of taking margin positions via our Margin Tool across various decentralized trading platforms.
Our initial integration will support the following Chainlink Price Feeds: DAI/ETH, ETH/USD, LINK/USD, and UNI/USD, with the ability to quickly leverage more across various blockchains as we expand. We selected Chainlink as our go-to oracle solution because their infrastructure provides an existing suite of pre-made decentralized oracle networks that are time-tested and proven to secure billions of dollars in value for leading DeFi protocols. Chainlink Price Feeds source price data from high-quality data providers with strong market coverage, as well as have a strong reputation for uptime, even during record levels of market volatility and network congestion.
x5 Leveraged Trading and Farming
The Platinum team is expanding its decentralized product line to better meet users’ needs and increase their capital efficiency in the midst of prohibitively high gas fees and declining annual-percentage yields (APYs). To realize these goals, we are launching a new Margin Tool that provides leverage trading and farming positions on popular DEXs like 1inch, PancakeSwap, Uniswap and SushiSwap by up to x5.
In three weeks, we plan to launch a testnet. You are welcome to join. Please come to our Telegram group to obtain details and subscribe to Twitter. All user manuals will also be published in our Blog.
The platform will also include popular trading strategies for buying and selling long and short positions (similar to Fulcrum but with a more flexible smart contract architecture).
Another way for users to participate in the protocol is to provide liquidity to the pool and earn fees (similar to providing liquidity for “interest-bearing pools” at Alpha-Homora, Compound, Aave, etc.).
An intuitive interface will provide even amateur traders with a simple way to maximize their returns.
Why We Selected Chainlink Price Feeds
The smooth operation of our Margin Tool is heavily dependent on reliable and secure access to high-quality price reference data. With accurate information on price changes, the Margin Tool will quickly determine position pricing and users’ liquidation thresholds, as well as warn users about the need to close their position or replenish collateral as soon as possible. Thus, users will have time to liquidate their margin position before their collateral further loses value.
To access high-quality price reference data, we needed an oracle to bridge aggregated price data existing off-chain to our smart contract application on-chain. Platinum’s engineers identified Chainlink Price Feeds as offering the best price oracle solution in the industry, with notable features like:
- 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 from outliers and wash trading. This generates accurate global market prices that are resistant to API downtime, flash crash outliers, and data manipulation attacks via flash loans.
- 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 for reliability, even during high gas prices and infrastructure outages.
- 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.
- Reputation — Chainlink provAides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.
Chainlink will be the only oracle solution providing high-quality price reference data to our Margin Tool, with Chainlink Price Feeds securing every user pool.
“When reviewing oracle solutions, it was important for us to deploy oracles that were resistant to data manipulation attacks and API / exchange downtime. Our decision process was quick and easy as we realized that Chainlink is the best and most time-tested decentralized oracle solution available on the market. Chainlink Price Feeds are now an integral part of our Margin Tool, and are critical to the proper operation of our platform.” — Anton Dzyatkovsky, co-founder of Platinum Software Development Company.
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.
About Platinum Software Development Company
“Platinum” is a software development company that provides smart-contract audits, Solidity / Rust / Substrate engineering and also builds DeFi projects:
Similar to leveraged farming invented by Alpha-Homora, traders can borrow funds through “Margin Tool” and trade on 1inch / Uniswap / Pancake with x5 margin.
A cross-chain aggregator (aiming to support Ethereum, Binance Smart Chain, Polkadot + Kusama, Avalanche, Solana, Heco, TRON, etc.). The Dashboard is for liquidity providers to be able to track their positions and calculate ROIs.
Learn more about the expertise of Platinum Software Development Company at https://platinum.fund