Stacktical integrates Chainlink to bring battle-tested Oracles to the DSLA Protocol Mainnet
DSLA x Chainlink
Dear community, Stacktical, the core development team of the DSLA Protocol, is proud to announce that we have integrated Chainlink to bring its widely used decentralized Price Feeds and staking analytics data to the DSLA Protocol mainnet and its flagship Ðapp, DSLA.network.
DSLA Protocol provides a financial hedge against staking infrastructure risks in proof-of-stake blockchain networks (e.g. staking efficiency drops, slashing), by combining staking service level agreements, liquidity pools and programmable bonus-malus insurance payouts.
Anyone can create a DSLA contract. Contract creators can claim rewards for pooling liquidity, if the performance of the monitored validator meets or exceeds pre-defined thresholds. Conversely, delegators can claim compensations for the bad performance of their validator.
Thanks to Chainlink, DSLA contracts can now retrieve reliable validator performance data from decentralized staking analytics indexers to trigger insurance payouts, and source high-quality price data to calculate liquidity and insurance deposits, and current policy valuations.
Chainlink is the industry-leading decentralized oracle network, securing over $4 Billion in value across DeFi by providing reliable, tamper-proof inputs and outputs for smart contracts on any blockchain. Given the importance of provisioning the most robust set of infrastructure for our users, we quickly identified Chainlink as essential oracle infrastructure to support our data-driven, fully automated decentralized service level agreements (DSLAs).
A Commitment to Resilient Infrastructures
While there are increasingly more solutions available on the market, in our testing, our Chainlink integration proved to be a superior fit for building DSLA Protocol without single points of failure in its infrastructure.
Infrastructure Resilience is a major design requirement for the DSLA Protocol mainnet, and one of the key reasons why we are building DSLAs on blockchain networks instead of resorting to centralized infrastructures like our competitors do.
In order to fulfill our mission as a Service Governance vehicle, it is critical to design a risk management protocol that is not prone to the same reliability risks that it mitigates.
Chainlink’s focus on Quality of Service offers strong guarantees that are aligned with such mission-critical design goals. Some of the features of particular importance that Chainlink brings to DSLA Protocol include:
- Decentralized infrastructure at both the data source and oracle node level, leading to highly available and manipulation-resistant data and oracle services.
- Flexibility to connect with any off-chain API, allowing DSLA smart contracts to retrieve Price Feeds and validator service performance data from premium data providers and any blockchain environment.
- Access to security reviewed oracle nodes run by leading security and blockchain DevOps teams, ensuring reliable service with Sybil attack protection.
- Proven mainnet solutions that secure billions of dollars in value for top blockchain-based applications, serving as definitive proof of the Chainlink Network’s security and reliability on mainnet.
How we use the Chainlink Oracle Network
DSLA Protocol relies on the Chainlink oracle network to perform 3 types of operations:
- ① Display accurate, realtime price information in DSLA contracts so users can monitor their liquidity pools, hedges and policy valuations;
- ② Convert users stakes and delegations into their DSLA and stablecoin equivalent to make liquidity and insurance deposits;
- ③ Connect DSLA contracts with decentralized indexers during a contract verification to trigger insurance payouts.
We are looking forward to further collaborating with the Chainlink team on achieving our 2021 goals using their battle-tested network and technology.
DSLA Protocol gives Proof-of-Stake validators the ability to turn their operational excellence into a competitive advantage and differentiator, while reducing delegators exposure to staking infrastructure risks.
Said Wilhem Pujar, CEO at Stacktical.
“By integrating Chainlink, our users have strong guarantees that DSLA contracts are triggered by accurate data in a manner that is highly available and resistant to various forms of data manipulation. This allows DSLA protocol to operate as a fully automated service governance vehicle that can be relied on to insure high-value stakes and delegations, in a rapidly growing staking industry.”
We look forward to further work with the Chainlink team and using their battle-tested network and technology to achieve our 2021 goals.
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.
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 DSLA Protocol
DSLA is a risk management protocol for developers, to build applications and operate infrastructures that are natively capable of financially protecting users against failures.
It enables anyone to vouch for the reliability of a service, get paid when the service performs as expected, or get compensated when the service does not meet expectations. To learn more, visit stacktical.com, our official blog and follow @stacktical on Twitter.