Totle Making its DEX API Available to Smart Contracts via Chainlink
Totle is excited to announce an integration with Chainlink, the market-leading decentralized oracle network. Leveraging Chainlink’s external adapter technology, Totle’s aggregated data API will become accessible to Dapps through Chainlink oracles. Dapps can query Chainlink nodes to gain deep insights into the DEX space and use it in the execution of smart contracts.
Totle is a DEX aggregator that monitors the liquidity of the 15 leading decentralized exchanges and synthetic asset providers. It then compares prices across exchanges to provide users with a reliable way of accessing deep liquidity for DeFi assets at the best market prices. When a user places a trade order, Totle calculates the best possible combination of DEX transactions that maximize the user’s return.
As a DEX Aggregator, Totle is uniquely well-positioned to capture macro-level activity within the emerging decentralized finance (DeFi) space. Through the use of External Adapters, Chainlink nodes can relay Totle’s API data to smart contracts on numerous blockchain environments.
With transactional activity on DEXs increasing, DEX data is becoming more in demand and important to the execution of financial smart contracts. For example, new derivatives products can be created purely designed around DEX liquidity and price action, such as futures and options contracts based on the overall liquidity of DEXs. This is a very unexplored market for DeFi, which can really open up if smart contracts are given access to reliable data.
David Bleznak, Founder of Totle, noted that “Chainlink’s role of securely sourcing and delivering data to smart contracts is crucial to the success of the DeFi ecosystem. A critical component of Chainlink’s process is being able to leverage high-quality data providers that have robust market coverage and accurate price calculations. We’re thrilled to integrate with Chainlink to make our high-quality DEX data readily available to market participants, further expanding the number of use cases possible in DeFi.”
If you’re a developer and want to connect your smart contract to existing data and infrastructure outside the underlying blockchain, reach out to us here! We 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 follow us 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 asPolkadot/Substrate, Synthetix, Loopring,Aave, OpenLaw, Conflux, and many others.
Totle is a decentralized liquidity aggregator that automatically acquires users the best pricing available for ETH and ERC-20 swaps.
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