Lista DAO, a prominent liquid staking platform, has recently announced the adoption of the Chainlink standard to enhance market data verification. As per Lista DAO, it is upgrading from Redstone to the exclusive Chainlink standard concerning the verifiable on-chain data, enabling tamper-proof and reliable data availability. The platform took to social media to disclose this upgrade.
Lista DAO Integrates Chainlink Price Feeds to Get Reliable Market Data
The integration of the Chainlink Price Feeds permits Lista DAO to support its biggest market with verifiable and dependable market data. By upgrading to Chainlink standard, the platform guarantees secure markets for its $lisUSD token. Lista DAO mentioned that the selection of Chainlink as a prioritized oracle solution is based on its seamless infrastructure.
Chainlink has gained significant attention due to its most broadly utilized standard for market data in the Web3 sector. It assists in securing top DeFi protocols, maintaining resilient security along with increased availability even during uncertain events. Such events include flash crashes, data manipulation exploits through flash loans, and exchange downtime.
Lista DAO delivers cutting-edge liquid staking while operating as a collateralized debt position protocol. The consumers can borrow the $lisUSD stablecoin against diverse collateral options. Lista DAO gets support from Binance Labs to offer innovative features and carry out continuous development. It upholds the peak security standards, executing regular audits, and ensuring the safety and integrity of consumer funds. Additionally, the CDP system of Lista DAO lets users mint $lisUSD to securely get assets and lock different collateral types.
The platform added that it required access to exclusive asset prices for secure markets. Hence, it needed the direct on-chain supply of these prices in a significantly reliable manner. For this purpose, it sought to utilize an oracle network for fetching market data offchain as well as make it available on-chain. Keeping in view these requirements, Lista DAO integrated Chainlink Price Feeds after observing diverse oracle solutions.
The Integration Offers Exact Market Prices, Preventing Data Tampering and Downtime
According to Lista DAO, Chainlink Price Feeds get data from different premium data aggregating platforms. The data aggregation model of Chainlink reportedly generates exact market prices worldwide, resisting API downtime, data manipulation exploits, and flash crash outliers. Additionally, Chainlink Price Feeds leverage protected node operators to ensure reliability. Moreover, they prioritize transparency and decentralization of the data to prevent data tampering and downtime.
