DPAD Finance Integrates Chainlink Price Feeds To Help Support IDO Conversions
We’re excited to announce that DPAD Finance has integrated Chainlink Price Feeds on BNB Chain mainnet to help build an easier user experience underpinned by decentralized, tamper-proof price data feeds. By integrating the industry-leading decentralized oracle network, DPAD now has access to high-quality and time-tested price data that helps enable users to get real-time, accurate currency conversions when participating in IDOs. Ultimately this creates a more user-friendly experience by giving users access to live price conversions that are available at any moment.
DPAD is an IDO built by IDO users, for IDO users. It operates on BNB Chain and allows users to use a variety of digital assets to seamlessly participate in IDOs. This is especially important when there is excessive demand to participate in an IDO, as the difference in being able to participate can sometimes get down to mere seconds. This means that any time wasted with clunky websites, currency conversions, or excessive need for manual processes can represent significant burdens to avid IDO users. DPAD aims to get rid of all that, with Chainlink Price Feeds helping specifically with the currency conversion barrier.
Chainlink Price Feeds are the industry-standard solution for decentralized price data. The service already helps secure tens of billions of dollars for some of Web3’s most prominent DeFi protocols. In the case of DPAD, Chainlink Price Feeds help power real-time conversions of metrics such as a token’s price, softcap, hardcap, sale allocation, and more to BNB to give users a base unit of measurement.
A few features that made Chainlink Price Feeds particularly attractive include:
- 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 liquidity depth, and cleaned from outliers and suspicious volumes. Chainlink’s data aggregation model generates precise global market prices that are resistant to API downtime, flash crash outliers, and data manipulation attacks like flash loans.
- 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 with a strong track record for reliability, even during high gas prices and extreme network congestion.
- 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 the oracle network.
- Transparency — Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.
- Economy of Scale — Chainlink Price Feeds benefit from an economy of scale effect, where increasing adoption allows multiple projects to collectively use and fund shared oracle networks to fetch commonly required datasets. This allows DeFi projects to get premium data quality and robust oracle security for a lower total cost.
DPAD aims to be a genuinely decentralized protocol in the future, and technology integrations such as the Chainlink Price Feeds help bring us further to that reality.
“At DPAD Finance we are committed to providing the best IDO experience possible for users. Integrating Chainlink Price Feeds is a large step towards solving what is often a friction point in comparison to other IDOs, and gives our users peace of mind that price conversions are underpinned by the industry’s most robust price data source.” — the DPAD Finance Team.
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.
DPAD Protocol is a decentralized IDO platform built for IDO users by IDO users. The DPAD protocol is powered by the DPAD token, which will grant community members governance on the platform. The platform is streamlined with speed and ease of use paramount for users. All manual processes have been automated, streamlined, and designed to handle an IDO at scale. DPAD also focuses on providing a data-driven interface to help investors make better and faster decisions. In addition, DPAD has created a Hypemeter to measure the hype of any IDO project across all social channels.