PundiX is renowned worldwide as one of the best Blockchain-oriented POS payment solutions and developers of the DeFi platform. An announcement was made by PundiX very recently regarding the integration with trusted and widely used Chainlink Price Feeds to secure platform reward distributions. Chainlink Price Feeds consist of decentralized networks of Oracle that work on making various asset prices accessible on-chain in real-time for smart contracts. PundiX is making the best of Chainlink Price Feeds for the accurate distribution of platform rewards in the form of the native PundiX token denominations.
PundiX entered into a partnership with Chainlink Price Feeds as the latter is the best Oracle-based solution that can provide high-quality data through the time-tested and proven Oracle infrastructure that is known for securing billions of dollars for the foremost DeFi projects. Chainlink Price Feeds can provide updated and precise data asset prices based on the global market trends. The platform of Chainlink also possesses a host of built-in resistances for meeting unprecedented events such as flash crash outliers, API downtime, and data manipulation attacks through flash loans.
The most significant features of Chainlink Price Feeds that led to the integration between PundiX and Chainlink are mentioned below:
- High-quality data: Chainlink Price Feeds secures data from topnotch data aggregators and then eliminates the wash trading and outliers to make premium quality data.
- Decentralized network: The decentralization of Chainlink at every level ensures strong security against data manipulation and downtime.
- Secure node operators: The Sybil-resistant Oracle nodes of Chainlink have the best track record for dependency even during infrastructure outages and high gas prices.
- Reputation: Chainlink comes with a robust framework and on-chain tools to monitor the independent verification of the node operators’ performance.
FX holders and PundiX get staking rewards for their participation in Blockchain-based governance. Therefore, it is imperative to possess reliable and transparent on-chain data on price reference for the precise calculation of the value of the staking rewards.