ChainLink Token (LINKUSD)

[stockvaper]

WOO Network will use Chainlink to launch customized institutional oracles

"The research-driven initiative combines WOO Network’s liquidity provision strategies with Chainlink’s robust oracle technology to create customized Chainlink oracles based on WOO’s market data."



The need for highly reliable market data

"The DEX relies on highly-granular market data from the WOO Network to be pushed frequently into the blockchain in order to replicate a CeFi order book on-chain.

Unlike other market data oracles that push an update after the price deviates a set amount from the previous price, WOOFi needed additional parameters including mid-price, spread, and a liquidity coefficient. WOOFi also requires the oracle to be updated more often in order to ensure the DEX can operate with only 0.1% swap fees.

On top of these demanding requirements, it was also essential that the oracle technology be capable of maintaining highly consistent uptime, even in volatile market conditions, and the Chainlink proved to be a natural fit for supporting this customized solution."


https://cryptoslate.com/woo-network-will-use-chainlink-to-launch-customized-institutional-oracles/