Matrixswap To Integrate Multiple Chainlink Decentralized Services Into Its Perpetuals DEX

The Matrixswap team is proud to announce our integration of multiple Chainlink decentralized oracle services. We have integrated Chainlink VRF to access a secure source of on-chain randomness to determine raffle results in a transparent and verifiable manner. We are also using Chainlink Price Feeds to gain access to the high-quality, tamper-proof price data required to help ensure correct pricing of collateral assets, token swaps, and accurate processing of liquidations.

Matrixswap is a decentralized virtual-AMM-based perpetual swaps trading protocol that also offers a DEX aggregator featuring multi-token swaps, allowing users to batch several tokens into one transaction. The Chainlink integration will help provide Matrixswap users with strong assurances that the platform is receiving accurate and reliable price data when depositing collateral into Matrixswap’s collateral vault or performing a trade.

As we continue building our decentralized trading platform, we realize the importance of aligning with protocols that provide reliable services to help our mission of growing the DeFi ecosystem. Chainlink is recognized as the industry standard when it comes to oracle solutions, which is why we’ve decided to integrate Chainlink Price Feeds into our perpetual swaps trading platform. We chose Chainlink as our go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. 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.

Our decision to integrate Chainlink Price Feeds comes after recognizing some of its many compelling propositions:

• High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that are aggregated from hundreds of exchanges, weighted by volume, and cleaned from outliers and suspicious volumes. Chainlink’s data aggregation model generates more precise global market prices that are resistant to API downtime, flash crash outliers, and data manipulation attacks like flash loans.
• 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 with a strong track record for reliability, even during high gas prices and extreme network congestion.
• 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 the oracle network.
• Transparency — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.

“Integrating the most battle-tested and reliable oracle network for our perpetual market index price feeds is one of the most important milestones for Matrixswap. We appreciate the tech support from Chainlink Labs and look forward to a long-lasting working relationship with them.”

— Joseph Liu, Project Lead at Matrixswap

About Chainlink

Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.

Learn more about Chainlink by visiting chain.link or read the documentation at docs.chain.link. To discuss an integration, reach out to an expert.

About Matrixswap

Matrixswap is a fully decentralized virtual-AMM-based perpetual swaps trading protocol deployed on the Polkadot, Cardano, and Polygon blockchains. Unlike traditional AMMs, users can long or short any assets’ perpetual contracts with up to 25x leverage. Matrixswap aims to be a fully community-owned and governed Defi protocol.

Use The Matrixswap DEX Aggregator on Polygon

Matrixswap’s DEX Aggregator on Polygon Network is now LIVE to help users find the best swap prices. With over $1.2bn in aggregated liquidity, users can trade tokens on Polygon with confidence. This DEX Aggregator also includes unique trading functions — multi-token buys and sells, Emergency Nuke Button, and interesting UI/UX details.

Try it here — https://router.matrixswap.io/

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