RocketX Integrates Chainlink Price Feeds to Access Reliable Prices
We’re excited to announce that RocketX — the global liquidity aggregator of CEXs & DEXs supporting cross-chain swaps & transfers — has integrated Chainlink Price Feeds for reliable pricing. By integrating the industry-leading decentralized oracle network, RocketX Exchange has access to high-quality, tamper-proof price feeds needed to supply accurate and reliable pricing for cross-chain swaps and token transfers. This will provide our users with stronger assurances that they get only the most accurate rates across CEXs & DEXs.
Our initial integration involves the use of the following Chainlink Price Feeds: BTC-USD. We chose Chainlink as our go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. Chainlink already helps secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.
RocketX is a global liquidity aggregator with an with emphasis on Cross-Chain Swaps & Token Transfers that provides access to global liquidity across various Centralized (CEX) and Decentralized (DEX) exchanges with a single click. RocketX assures the best rates and minimal slippage — all while allowing users to have complete control of their tokens through a non-custodial solution.
In order to help secure our cross-chain feature, we needed access to fresh asset prices that are supplied directly on-chain in a highly reliable manner. Fair market asset prices should reflect a volume-weighted average from all trading environments. Thus, we needed to make use of a blockchain oracle network to fetch aggregated price data off-chain and deliver it on-chain to be consumed by our application.
After reviewing various oracle solutions, we integrated Chainlink Price Feeds because they provide a multitude of critical features such as:
- 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 of outliers and wash trading. Chainlink’s data aggregation model generates more precise global market prices that are inherently resistant to inaccuracies or manipulation of any single or small set of exchanges.
- 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. Chainlink nodes have a strong track record of reliability, even during high gas prices and infrastructure outages.
- 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 oracle network.
- Reputation System — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical and real-time performance of node operators and oracle networks.
As part of the RocketX product development roadmap, RocketX will use Chainlink for future RocketX features within Rocket Vault Project.
“We’re excited to integrate Chainlink. RocketX’s integration of Chainlink Price Feeds will enable us to access secure and reliable market prices from the real world.”– Kiran Mannam, Project Lead
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.
About Rocket Vault — RocketX
Rocket X helps users to trade ANY token listed on ANY exchange globally without registering with ANY exchange! It is the FIRST exchange to break the boundaries between different chains and support single click Cross-Chain Swaps, while allowing the user to have complete ownership of tokens.