We’re excited to announce that DBOE has integrated Chainlink Price Feeds and Chainlink Automation on Polygon mainnet. By integrating the industry-leading decentralized computing platform, DBOE has access to high-quality, tamper-proof price feeds and automation infrastructure needed to help implement a robust options final settlement procedure, real-timing price calculation, as well as a safety measure—a circuit breaker in our DEX. This will provide our users with stronger assurances that the circuit breaker mechanism on DBOE is supported by battle-tested Chainlink infrastructure.
Our initial integration involves the use of the following Chainlink Price Feeds: ETH/USD, BTC/USD, SOL/USD, AVAX/USD, LINK/USD, MATIC/USD, and BNB/USD. We chose Chainlink as our preferred oracle solution because its infrastructure is seamless to integrate and time-tested in production. As the most widely adopted price data standard in Web3, Chainlink already helps secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.
DeFi Board Options Exchange (DBOE) is building the future of public market infrastructure, with innate capability for non-linear payouts (i.e. options) and dynamic listing of new products.
In order to implement our circuit breaker mechanism, we needed access to fresh asset prices that are supplied directly on-chain in a highly reliable manner. Thus, we needed to make use of an oracle network to fetch aggregated price data off-chain and deliver it on-chain to be consumed by our application. More details on our implementation of a circuit breaker here.
After reviewing various oracle solutions, we integrated Chainlink Price Feeds because they provide a multitude of critical features such as:
- 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 of outliers and wash trading. Chainlink’s data aggregation model generates more precise global market prices that are inherently resistant to inaccuracies or manipulation of any single or small set of exchanges.
- 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 of 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 System — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical and real-time performance of node operators and oracle networks.
“Chainlink Price Feeds have an unparalleled security and reliability track record as the industry-standard market data solution in DeFi. We’re excited to integrate Chainlink infrastructure to help secure the circuit breaker mechanism on DBOE.”—Vinh Vu, Founder of DBOE.
About Chainlink
Chainlink is the industry-standard decentralized computing platform powering the verifiable web. Chainlink has enabled over $12 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link.
About DBOE
DBOE is the most comprehensive Crypto Options decentralized exchange globally. Our platform boasts cutting-edge features including an innovative On-Chain Order Book, secure risk management, and a robust market making mechanism. Recently, DBOE has expanded into Spot trading on both Polygon and Ethereum, leveraging our advanced infrastructure for Crypto Options. Recognized as the second best project by the Stanford Blockchain Accelerator program in 2023, DBOE has also been selected to join Google’s web3 startup ecosystem.
Check us out: https://dboe.io
