NCFX Data Fuelling Chainlink Price Feeds
Posted by Colin Lambert. Last updated: September 6, 2021
New Change FX (NCFX) has announced that its FX, precious metals and crypto asset benchmark data is being used to power Chainlink Price Feeds, a collection of decentralised oracle networks for the decentralised finance (DeFi) and increasingly centralised finance (CeFi) ecosystems.
NCFX’s financial market data is actively being used across all native Chainlink Price Feed deployments, which include blockchain networks like Ethereum, Solana, Polkadot, Polygon, Binance Smart Chain, Avalanche, Optimism, Arbitrum, HECO, Fantom, and more.
The firm says its carefully designed benchmarking methodology and reliable financial market data helps boost the security and reliability of Chainlink Price Feeds that already helps secure tens of billions of dollars in on-chain value for smart contracts.
NCFX aggregates trading data from across a broad range of trading environments to provide accurate spot pricing while also filtering out suspicious trading volume and reducing the impact from outlier data inherent from using single sources.
With Chainlink Price Feeds recently launching on several high-throughput chains like Polygon mainnet, Avalanche mainnet, Fantom mainnet, Arbitrum and Optimism L2 mainnets, and Solana Devnet, NCFX’s financial market data is providing support for low-latency price feeds that still retain full market coverage, protect against various data manipulation attacks, while providing transparency into the benchmarking methodology that the community can monitor and verify. For example, the firm explains it is supporting Chainlink Price Feeds on Solana that update at sub-second time frames to bring Solana’s smart contract application developers high quality pricing data in real-time.
NCFX adds it will continue to support Chainlink Price Feeds as they expand across new blockchains and new asset types beyond cryptocurrencies, foir example FX and commodities.
Andy Woolmer, CEO of New Change FX says the roll out will lead to increased decentralisation and lower latency updates for the industry’s leading decentralised oracle solution. “Our support for Chainlink Price Feeds has not only expanded our business model with little integration overhead, but it has allowed us to seed next generation financial markets and products across DeFi and CeFi,” he adds.