Market & data feeds: Difference between revisions
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<h2>Use cases</h2> | <h2>Use cases</h2> | ||
* [https://blog.angle.money/angle-protocol-integrates-chainlink-price-feeds-to-help-secure-borrowing-on-its-240caed4f73b Angle Protocol] - Ensuring collateralization ratios, liquidations, and fees are calculated using accurate price data. | |||
* Provide broad market coverage across a wide array of assets including cryptocurrencies, commodities, forex, indices, and more. | * Provide broad market coverage across a wide array of assets including cryptocurrencies, commodities, forex, indices, and more. | ||
* DEX protocols can use Chainlink Price Feeds for reliable price conversions, accurate display prices on a frontend, or the secure calculation of staking rewards and fee distributions to stakeholders. | * DEX protocols can use Chainlink Price Feeds for reliable price conversions, accurate display prices on a frontend, or the secure calculation of staking rewards and fee distributions to stakeholders. | ||
Revision as of 04:46, 23 June 2022
Quick take: Market & Data Feeds
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Secure, Aggregated Market Data
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Supported chains
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In depth
The history of Chainlinks market and data feeds can be broken out into specific contract-based milestones. The first contract iteration, Runlog ran its first Ethereum mainnet job on May 29, 2019. Runlog was followed by Flux monitors, the first of which was deployed on August 06, 2020. Nine months later, (06 May 21), saw the deployment of the latest iteration of Chainlinks market and data feed contracts, the OCR (Offchain reporting) contracts.
- Direct Request / Runlog (DR)
- Flux Monitor (FM)
- Offchain Reporting (OCR)
OCR is the third and latest version of the Chainlink Core client run by Chainlink nodes and its release marked a major milestone in the scalability of Chainlink’s decentralized oracle networks. OCR boasts significant differences and improvements from the previous versions of the aggregator contracts. Most notably, the OCR protocol allows nodes to aggregate their observations into a single report off-chain using a secure P2P network. A single node then submits a transaction with the aggregated report to the chain. Each report consists of many nodes' observations and has to be signed by a quorum of nodes. These signatures are then verified on-chain. - ??? (what could be next)
Chainlink Price Feeds are on-chain reference contracts that are automatically updated by decentralized oracle networks (DONs) consisting of Chainlink nodes. Each reference contract stores the latest and the historical price of an asset in the form of an exchange rate (e.g. BTC/USD), which smart contracts can then query on-demand. Each Chainlink Price Feed runs on a specific blockchain network and regularly updates with fresh data based on predefined parameters. [1]
- Deviation threshold - A new data aggregation round starts when a Chainlink node identifies that an off-chain data value deviates by more than the defined deviation threshold from its on-chain value.
- Heartbeat threshold - A new data aggregation round starts after a specified amount of time from the last update. If the deviation threshold is not reached within the time of the heartbeat, the feed will be updated. [2]
Use cases
- Angle Protocol - Ensuring collateralization ratios, liquidations, and fees are calculated using accurate price data.
- Provide broad market coverage across a wide array of assets including cryptocurrencies, commodities, forex, indices, and more.
- DEX protocols can use Chainlink Price Feeds for reliable price conversions, accurate display prices on a frontend, or the secure calculation of staking rewards and fee distributions to stakeholders.
- Help ensure the security and accuracy of price monitoring and financial analysis infrastructure. [3]
- Help create and manage arbitrage strategies between different decentralized exchanges. [4]
Relevant quotes
Timeline
2022
- 04 Jun 22. Chainlink launches price feeds on Solana mainnet. This is the first native integration on a non-EVM chain. Read the full announcement HERE.
2021
- 01 Dec 21. Moonbeam, announces the native integration of Chainlink price feeds on Moonriver. Read the announcement HERE.
- 12 Aug 21. Chainlink oracles (Market & data feeds) go Live on Arbitrum One . Read the official Offchain labs announcement HERE.
- 21 Jul 21 Chainlink price feeds launch on Avalanche mainnet. Read the official Avalanche labs announcement HERE.
- 09 Mar 21. Market and data feeds go live on HECO chain mainnet. Read the announcement HERE.
- 04 Mar 21. Market & data feeds go live on Gnosis/xDai mainnet. Read the announcement HERE.
2020
- 10 Dec 20. Binance Smart Chain integrates Chainlink's decentralized oracle network on its mainnet. Read the announcement HERE.
- 19 Nov 20. Matic/Polygon announces the launch of 5 Chainlink price feeds on mainnet. Read the full announcement HERE.
2019
- 07 Sep 19. Chainlink announces the launch of 7 new crypto price reference data sets on Ethereum. Read the announcement HERE.
- 30 May 19. Ethereum Mainnet Launch. Chainlink on Ethereum mainnet released. Read the announcement HERE.
- 14 May 19. Sergey Nazarov announces at Consensus 2019 that Chainlink for Ethereum Mainnet is launching May 30th. Watch the announcement HERE.
Market & data feed resources
Our goal with the Wiki resource lists is to create authoritative archives for readings and other resources pertaining to specific topics.
As such, the Wiki aims to keep all resource lists current, consistent, accurate and clear.
Timeline
| Date | Media | Author | Title |
|---|---|---|---|
| 30 May 19 | Article | Chainlink | Chainlink: Connected Consensus on Ethereum |
| 14 May 19 | Video | Sergey Nazarov | Chainlink for Ethereum Mainnet Announcement at Consensus 2019 |
Educational