XCarnival Integrates Chainlink Price Feeds to Access Secure, Fair-Market Prices of Assets
We are excited to announce that XCarnival — a lending aggregator for Metaverse assets, along with innovative liquidity solutions for NFTs and long-tail crypto assets — has integrated Chainlink Price Feeds on Binance Smart Chain (BSC) mainnet. By integrating the industry-leading decentralized oracle network, XCarnival now has access to high-quality, up-to-date, tamper-proof price feeds available directly on-chain in a single call. With this integration, users will have high confidence that they can easily lend their assets and borrow assets securely, especially within future Metaverse epochs.
XCarnival chose Chainlink as its go-to oracle solution because it’s Price Feed infrastructure was seamless to integrate and has been time-tested in production. Currently, Chainlink Price Feeds help secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value. It also maintains robust security and high availability even in the midst of unexpected events like exchange downtime, flash crashes, and data manipulation attacks through flash loans.
XCarnival is a lending aggregator for Metaverse assets, including NFTs and long-tail assets. To create more liquidity, XCarnival allows users to pledge and borrow NFTs and other altcoin assets without selling them. For XCarnival to secure its wide range of collateral assets, it needs access to fresh prices supplied on-chain in a highly reliable manner. XCarnival integrated Chainlink Price Feeds provide critical features, which include:
- High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, ensuring broad market coverage through 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 accurate 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.
Chainlink is the industry standard oracle network for powering hybrid smart contracts. Chainlink Decentralized Oracle Networks provide developers with the largest collection of high-quality data sources and secure off-chain computations to expand the capabilities of smart contracts on any blockchain. Managed by a global, decentralized community, Chainlink currently secures billions of dollars in value for smart contracts across decentralized finance (DeFi), insurance, gaming, and other major industries.
Chainlink is trusted by hundreds of organizations, from global enterprises to projects at the forefront of the blockchain economy, to deliver definitive truth via secure, reliable oracle networks. To learn more about Chainlink, visit chain.link, subscribe to the Chainlink newsletter, and follow @chainlink on Twitter. To understand the full vision of the Chainlink Network, read the Chainlink 2.0 whitepaper.
XCarnival is a lending aggregator that provides easy-to-use financial products. Right now users can put their NFTs on XBroker as a pledge to borrow money from other lenders. Additionally, at the same time, users can borrow money from Megabox with their altcoins, such as Cake, Dodo, Bifi, and much more. XCarnival believes that Everything is Collateral and works towards unlocking more liquidity for the metaverse space through innovation.