Tranchess Successfully Integrates Chainlink Price Feeds on BSC
Industry-leading integration set to aid Tranchess progress.
Integration Charts Latest Tranchess Development
The move will see Tranchess utilize the industry-leading decentralized oracle network, which will allow for access to quality and secure price data. Tranchess explained, in an official press release revealed to BSC News, that the integration will allow for their new BNB fund to make better use of the 30-minute TWAP when setting trades on Tranchess Swap, allowing for more reliability and less time-wasting.
“We have adopted multiple ways to strengthen the protocol’s safety and the 30-minute TWAP is one of our unique defense mechanisms.” Tranchess went on to say: "We chose Chainlink, the most widely used and time-tested decentralized oracle network in the blockchain industry, as a smooth and steady price feed was a prerequisite to this particular design.”
Having already helped secure over 80 billion in TVL for a range of Decentralized Finance (DeFi) protocols across influential blockchains, Chainlink Price Feeds presented a clear and obvious choice for Tranchess.
“Tranchess Swap is a function specifically designed for the Tranchess ecosystem, where users can swap between QUEEN, BISHOP, ROOK and USDC to take advantage of the provided asset allocation flexibilities,” the project explained in the exclusive press release. “With the integration of the Chainlink Price Feed, we will be able to improve the efficiency of each epoch’s settlement by saving up to 30% of the waiting time.”
Four Keys to Choosing Chainlink
In identifying the rationale for utilizing Chainlink Price Feeds, Tranchess was categorical about the key reasons:
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. Their 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 strong, reliable track records, 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 a 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 and check the real-time prices being offered.
What is Tranchess?
According to Tranchess, the protocol is a tokenized asset management and derivatives trading platform. The platform also aims to provide a place where both a novice investor and a highly sophisticated crypto investor can take advantage of high returns on popular cryptocurrencies. Tranches’s innovation comes from a ‘main fund’ that tracks an underlying asset, such as bitcoin. This ‘main fund’ can be split into two ‘sub funds’ with different user benefits. With Tranchess, there exist three primary tranche tokens that users must create. Tranchess’s tokens include the QUEEN, BISHOP, and ROOK token. There is also a governance token: CHESS. Each token can be used to fit the desired investment approach the investor would like to take. They have been audited by both Certik and PeckShield, two leading security groups on Binance Smart Chain.
To learn more on how Tranchess works and how they look to revolutionize the crypto space, click here to check out their whitepaper.
Where to find Tranchess?
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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