Deri Protocol integrates Chainlink Price Feeds to guarantee secure derivatives trading

Deri Protocol will fund and integrate Chainlink (LINK/USD) Price Feeds with the improved deviation threshold (0.1%) on BSC, Heco, and Polygon (MATIC/USD). The Uniswap style BitMEX+ will guarantee access to highly reliable, fully accurate price feeds required to provide the precise US dollar value of the underlying assets of the perpetual contracts, according to their website. This will become possible after integrating Chainlink’s decentralized, cutting edge oracle network.

Guaranteeing security and lightning speed price updates

At first, Deri will use the improved deviation threshold (0.1%): BTCUSD (BTC/USD) and ETHUSD (ETH/USD). Chainlink Price Feeds offer seamless integration and its solutions have proven themselves over time. At the moment, Chainlink secures tens of billions of dollars in smart contract value, maintaining robust security within leading DeFi protocols. It remains operative even in the event of flash crashes, exchange downtime, and flash loan-induced data manipulation attacks.

0xAlpha, co-founder & CEO of Deri Protocol, said:

Arbitrage, speculate, and hedge on chain

Deri also makes it possible to hedge, arbitrage, and speculate on chain by means of liquidity pools. It supports a large number of tokens to ensure liquidity. These can also be deposited by traders as margin.

Other advantages of Chainlink Price Feeds

Chainlink Price Feeds boast secure node operators, a solid reputation framework, high quality data, and a decentralized network. Secure, independent oracle nodes operated by leading data providers, blockchain DevOps teams, and conventional businesses secure the feeds. These nodes are reliable even during infrastructural decline and high gas prices.

Chainlink Price Feeds are decentralized at the oracle network, data source, and oracle node levels, ensuring excellent protections against tampering by the oracle network or the data provider.