AEX Exchange, one of the earliest digital asset exchanges (founded in 2013), has integrated Chainlink Price Feeds to help establish floating exchange rates in its OTC markets and other financial products such as Crypto Savings, AEX Loan, ASwap, and more. High-quality market data from Chainlink will help ensure that prices in AEX Exchange’s over-the-counter (OTC) markets and other financial products reflect accurate fair market rates.
Chainlink currently secures DeFi protocols responsible for tens of billions of dollars in smart contract value. The network works to maintain high security and availability even during unexpected events like downtime, flash crashes, and data manipulation.
“Chainlink Price Feeds will be the bridge for AEX DeFi products to connect on-chain and off-chain data,” said Frank, the Chief Analyst at the AEX Institute. “The blockchain industry has entered a booming period in 2021. AEX will explore more and more development opportunities across major trends in the crypto space and beyond. The integration with Chainlink is an essential factor to assure that users will have access to accurate price references across all AEX products.”
Additionally the AEX Exchange team put out the following statement on the integration: “Chainlink Price Feeds are the standard for reliable, decentralized price data. By leveraging Chainlink’s industry-leading decentralized oracle network, we can provide our users with higher assurances that the prices in our OTC markets and other financial products are secure and tamper-proof.”
In order to help establish secure pricing in AEX’s OTC markets and other financial products, the exchange needed access to fresh asset prices that are supplied directly on-chain in a highly reliable manner. The exchange needed to make use of an oracle network to fetch aggregated price data off-chain and deliver it on-chain for use by their application.
