Chainlink Weekly Roundup: OpenOcean, Sneaky Vampire Syndicate and Swell Network

by BSC News

August 12, 2022


In another fruitful week, Chainlink expands the capabilities of a multi-chain DEX aggregator, an NFT brand, and an Ethereum liquid staking protocol.

Pushing Web3 Forward

Decentralized oracle Chainlink supports multiple new protocols across different blockchains every week. 

Its four main products, Price Feeds, Proof of Reserve, VRF, and Keepers, level up the smart contract economy and already help secure tens of billions of dollars. 

In this week’s roundup:

Chainlink offers products on several blockchains and layer-two networks. Source

Better Price Routes

DEX aggregator OpenOcean integrated Chainlink Price Feeds to build reliable limit orders on multiple chains, including BNB Chain, Avalanche, Ethereum, and Polygon.

OpenOcean tries to give users the best price across different exchanges to swap their crypto. The oracle network helps by providing access to high-quality price data and allowing users to execute orders faster and more accurately.

“Chainlink has always been the industry standard for decentralized oracle services. By integrating Chainlink Price Feeds, our users continue to get the best possible pricing on all their swaps, and the service helps ensure that any price data we use is precise, reliable, and most importantly, decentralized,” said Cindy, Co-Founder of OpenOcean.
Source: Chainlink

Chainlink Price Feeds critical features include:

  • High-Quality Data: It sources data from hundreds of exchanges, weighted by volume, and cleaned of outliers and wash trading.
  • Secure Node Operators: It's secured by independent and security-reviewed oracle nodes run by leading blockchain teams, data providers, and traditional enterprises. 
  • Decentralized Network: It's decentralized at the data source, oracle node, and oracle network levels, generating protections against downtime and tampering.
  • Reputation System: It provides a robust reputation framework and on-chain monitoring tools.

Random Vampire Raffles

Sneaky Vampire Syndicate (SVS) integrated Chainlink Verifiable Random Function to help fairly select raffle winners.

The NFT brand leverages Chainlink’s tamper-proof randomizer to determine which users win prizes, such as PS5s, PC parts, flight vouchers, wine fridges, gaming laptops, and Nintendo Switches. 

The integration was revealed to BSC News by the Chainlink team via press release.

“We’re excited to integrate Chainlink VRF to help randomize our raffles. Chainlink helps make developers’ lives easier so we can focus on what truly matters—making our products better,” commented Topkek, Project Lead of SVS.
Source: Chainlink

Some of Chainlink VRF's uses include:

  • NFTs: Fair NFT distribution and assignment of randomized attributes.
  • Gaming: Random outcomes in blockchain games. 
  • Ordering for processes: Distribution of highly-coveted items like tickets to events.

Double Integration

Swell Network integrated Chainlink Price Feeds and Proof of Reserve to help improve liquid ETH staking.

  • The new ETH/USD Price Feed improves decision-making around ETH staking. For example, the feeds help calculate gas costs, enabling users to evaluate the fees and make transactions at opportune times.
  • Proof of Reserve provides users with on-chain proof regarding asset collateral by comparing their current supply to the reserves backing them. This way, users can safely create liquidity for staked ETH and unlock capital on the network.
"Chainlink's best-in-class offering will provide further reassurance for Swell's stakers around the provable redeemability of swETH, which represents ETH staked on the Beacon Chain on a 1:1 basis,” said Daniel Dizon, Co-Founder and CEO of Swell Network.
Source: Chainlink

Check out BSC News' weekly roundup to keep up with the latest regarding the smart contract powerhouse.

Last four editions:

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 OpenOcean:

OpenOcean is a DEX aggregator, integrating major DEXs across 16 blockchains. OpenOcean’s intelligent routing algorithm optimizes swaps returns and is free to use.

Where to find OpenOcean:

Website | Twitter

What Is Sneaky Vampire Syndicate:

The Sneaky Vampire Syndicate consists of 8,888 Vampires living their best life in The Lair - away from burning sunlight or pesky Vampire Hunters. The Syndicate is known for its community, as they are staked to accrue their $BLOOD Tokens. Their furry friends in the form of Bat Companions never leave their side.

Where to find Sneaky Vampire Syndicate:

Website | Twitter

What Is Swell Network:

Swell Network is a next-generation ETH liquid staking protocol that provides a differentiated offering for stakers, node operators, and the ecosystem. Swell empowers stakers to earn higher yields with more transparency in a fully non-custodial manner with improved UX. The protocol also enables node operators to run nodes for the network in a fully permissionless manner.

Where to find Swell Network:

Website | Twitter

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