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Chainlink Weekly Roundup: PancakeSwap, Fantom, and Global Warming

The oracle network had another fruitful week helping track greenhouse gases and expanding on BNB Chain and Fantom.

A Week Beyond Web3

Chainlink continues raising the bar as major protocols and companies integrate its smart contract engine every week. 

After integrating ApeSwap in our last weekly roundup, Chainlink adds another BNB Chain biggie, disembarks in a well-known blockchain, and helps the European Union’s fight against climate change.

In this week’s roundup:

Source

Powering PancakeSwap’s New Feature

BNB Chain’s top decentralized exchange (DEX) launched the CAKE Prediction Market, fully automated by Chainlink Keepers.

PancakeSwap users can now bet if the price of $CAKE will rise or fall. The platform uses Chainlink Keepers to automatically open, close, and settle its prediction market every five minutes.

Cake’s team shared the reasoning behind the integration on their blog:

“We’re excited to have increased the decentralization, reliability, and efficiency of our prediction market by integrating Chainlink Keepers. Having previously integrated Chainlink Price Feeds and VRF, we’ve experienced the reliability of Chainlink first hand and can see why it’s the industry-standard decentralized oracle network.”
Source

Without this solution, developers would have to manually monitor and trigger smart contract transactions, thus introducing a point of failure and consuming valuable dev resources. Ultimately, Chainlink Keepers enables the DEX to provide users with a more secure and reliable prediction market while reducing costs.

Expanding on Fantom

Fantom announced that Chainlink Keepers and Chainlink VRF are now live on mainnet. The L1 blockchain plans to leverage the smart contract infrastructure to improve the security and functionality of its dApps

The expansion was revealed to BSC News by the Chainlink team via an exclusive press release.

“The native launch of Chainlink Keepers and Chainlink VRF on Fantom is an exciting moment for our ecosystem as these services enable developers to increase the utility and security guarantees of their applications,” said Michael Kong, Fantom’s CEO.
Source: Chainlink

With Chainlink Keepers, Fantom developers can bolster smart contract security, reduce workload, add more features, and improve the overall user experience. As per Chainlink VRF, it empowers devs to incorporate transparent random outcomes in their blockchain games or NFT mints. 

Bringing Climate Change Analytics On-Chain

Hyphen incorporated the carbon flux data from the EU-funded Copernicus Program into its Chainlink oracle network. The Swiss data provider uses the blockchain to enable immediate, dynamic, and well-informed actions to address climate change.

David Grimes, Hyphen’s Chief Climate Officer and Ex-President of the World Meteorological Organization, stressed the importance of bringing state-of-the-art environmental reporting into organizations:

“A means for reliable, transparent, and tamper-proof reporting of greenhouse gas reductions is becoming ever more important today, as organizations worldwide undertake actions to reduce their carbon footprint and financial incentives such as green bonds ramp up. Using Chainlink and Copernicus, Hyphen brings a capability that will support monitoring individual actions against a backdrop of global progress." 
Source: Chainlink

Assessing an organization’s climate measures requires the monitoring and understanding of its emission profiles. Copernicus collects data via satellites and Earth-based instruments, identifying the amounts of carbon they exchange with the environment.

Adding this data to Hyphen’s network and making it readily available to organizations can improve carbon footprint reporting, climate action initiatives, and incentives to reach net-zero emissions.

What is 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.

Where to find Chainlink:

Website | Twitter | Docs | Community 

What is PancakeSwap:

PancakeSwap is a DEX where users can swap crypto tokens. Beyond the DEX, PancakeSwap provides users with yield farming, CAKE lucky draw, NFT marketplace, prediction market, and perpetual trading. The platform supports millions of monthly users and tens of millions of monthly trades and has billions in total value locked (TVL).

Where to find PancakeSwap:

Website | Twitter |

What is Fantom:

Fantom is a fast, scalable, and secure layer-1 EVM-compatible platform built on a permissionless aBFT consensus protocol. On Fantom, transactions are confirmed in about 1 second and cost just a few cents. Speed, low transaction costs, and high throughput make Fantom ideal for DeFi applications and real-world use-cases. 

Where to find Fantom:

Website | Twitter |

What is Hyphen:

Hyphen supports capital markets with various verified climate data, enabling dApps and institutions to build more sophisticated, dynamic, and validated green financial products and services. In partnership with the world’s leading atmospheric agencies, Hyphen brings together a wide variety of emissions data from multiple sources and makes them available for wider smart contact use. 

Where to find Hyphen:

Website | Twitter | Medium |

What is Copernicus:

Copernicus is a component of the European Union’s space program, with funding by the EU, and is its flagship Earth observation program, which operates through six thematic services: Atmosphere, Marine, Land, Climate Change, Security, and Emergency. It delivers freely accessible operational data and services, providing users with reliable and up-to-date information about our planet and its environment. 

Copernicus’ Atmosphere Monitoring Service is implemented by the European Centre for Medium-Range Weather Forecasts (ECMWF).

Where to find Copernicus:

Website | Twitter |

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