фото показано с : invezz.com

KuCoin (KCS/USD) is now using Chainlink Price Feeds (LINK/USD) to supply its Over-the-Counter (OTC) markets with high-quality price reference data, Invezz learned from a press release. The dynamically growing exchange has access to accurate, tamper-proof rates between various fiat currencies and cryptocurrencies after the integration. This will help set floating rates in OTC markets.

KuCoin will use Chainlink Price Feeds as benchmarks to help set floating exchange rates. Users can connect buy/sell orders to these or specify a certain percentage of the rate for their orders to be in. Consequently, users get more assurance that they are getting fair exchange rates and increased transparency of the origin of the rates.

KuCoin’s OTC market now supports 21 fiat currencies and enables users to trade crypto and fiat directly with other users at preset prices. OTC trading gives users more control over settlement times and methods as well as pricing. Ultimately, the integration reduces potential slippage, especially during market volatility.

Johnny Lyu, CEO of KuCoin, commented:

Fiat on-ramps are users’ first steps into the crypto world. As the People’s Exchange, KuCoin aims to bring a better trading experience to users from the start of their crypto journey. Our integration of Chainlink Price Feeds will help lower the risk of slippage and increase transparency into the rates offered in our P2P Market Pricing. Given their reliability and accuracy, Chainlink Price Feeds will serve as trusted benchmarks in our P2P markets to help ensure that trades based on floating exchange rates are consistently in alignment with global markets.

Some of the notable features of Chainlink Price Feeds include:

Secure Node Operators — Chainlink Price Feeds are secured by independent, security-reviewed oracle nodes run by leading blockchain DevOps teams and traditional enterprises with a strong track record for reliability during market volatility.

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 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.

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.

The post KuCoin uses Chainlink Price Feeds to supply OTC markets with quality data appeared first on Invezz.

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