crypto-news-flash.com
- Chainlink (LINK) Data Streams are integrated by Ostium on Arbitrum for their reliable and consistent crypto feeds.
- Ostium’s co-founder discloses that this integration underscores its effort to improve users’ experience by making it more transparent, secure, and efficient.
Ostium has announced that it will integrate Chainlink Data Streams as its preferred low-latency Oracle solution for crypto feeds on Arbitrum.
.@OstiumLabs has integrated #Chainlink Data Streams on @arbitrum. How Data Streams’ high-throughput market data helps level up Ostium’s decentralized perpetual exchange ⬇️https://t.co/DhgedyBfuX pic.twitter.com/CPnmOwmm5E— Chainlink (@chainlink) August 5, 2024
According to the announcement published on Ostium’s official blog, Chainlink Data Streams was chosen for its uninterrupted supply of premium high-frequency market data due to its support for several high-level features, such as sub-second price resolution. This is delivered via battle-tested Oracle infrastructure that ensures the provision of a highly performant user experience without compromising its decentralization and transparency.
Chainlink Data Streams was also considered for its frontrunning protection. According to the post, it leverages “conflict of interest-free data sources, a commit and reveal architecture” to protect traders and liquidity sources against information arbitrage and illegal price manipulation.
Thirdly, it is known for its improved risk management, where protocols receive access to several numbers of data apart from price. Finally, the effectiveness of its time-tested infrastructure played a huge role in its consideration. According to Ostium, Chainlink has a track record of robust security, maximum reliability, and high-quality data. Over the years, it has assisted leading Decentralized Finance (DeFi) applications make over $12 trillion in on-chain transaction volume.
More on the Reputation of Chainlink
Over the years, Chainlink has established a track record of providing higher performance and security while eliminating the issues of reliability that might occur using only a single centralized source. In the meantime, the integration involves using “BTC/USD and ETH/USD Chainlink Data Streams.”
Commenting on this, Ostium Labs co-founder Kaledora Kiernan-Linn disclosed that this milestone underscores their commitment to delivering a jaw-dropping experience to their users.
We’re excited to integrate Chainlink Data Streams into Ostium, which is a significant step in our commitment to delivering a secure, transparent, and efficient experience for our users. Chainlink’s low-latency oracle solution enables users to access performant, secure, and high-frequency market data across Ostium’s digital asset offerings.
Currently, Ostium is working on building a perpetual trading infrastructure for the “‘perpification’ of both digital and Real World Assets.” For now, Ostium is running on the Arbitrum testnet and has 19 assets including USD/JPY, Nikkei225, WTI Oil, Bitcoin, etc.
The native token of Chainlink, LINK, failed to stand against the “ruthless wind” that blew across the broad market yesterday, August 5, dragging the price to below $10. In addition, its MVRV ratio was down by 11% and 18.7% on a monthly and yearly basis, putting LINK in a good position to buy. To take advantage, addresses holding from 1 million to 10 million LINK embarked on a buying spree in August, controlling 19% of its supply.
At press time, LINK was trading at $10 after surging by 20% in the last 24 hours.