Bluzelle & Reef Finance to Bring DeFi Mainstream Adoption with Polkadot

This article was first published on The Blueprint by Bluzelle - Medium

Announcing the First Defi powered by Bluzelle Oracles

⭐️Reef Finance, the first cross-chain DeFi operating system built on Polkadot, has strategically partnered with Bluzelle and become the first adopter of the Bluzelle Oracles. The integration of Bluzelle Oracles price feeds will enable Reef to capture real-time price information in order to power the next generation of DeFi applications.

Reef integrates both CEXes and DEXes, providing increased liquidity for all cryptocurrency asset traders and managers. It needs to aggregate information from all exchanges to help users come up with the best trading strategy through their AI-driven yield engine. As such, getting the most accurate pricing data with historical index is critical in this trading process.

Bluzelle’s decentralized oracles capture off-chain data from numerous data input sources and makes them available on-chain for any smart-contract-enabled blockchain including Polkadot. This will allow Reef to leverage a decentralized network of independent oracles to obtain market data that will be reliable. Our decentralized DB also made historical data available, which will also improve the decision making of their AI engine.

“I am excited to work with a team of the caliber of Bluzelle which has a strong technical team to provide our users more confidence in on-chain prices. The closer fair market prices are to on-chain prices, the further we can push the adoption of DeFi” said Denko Mancheski, CEO of Reef Finance.

Bluzelle Oracles have 3 unique components that make it stand out from the others:

  • Fast Pricing Interval
  • High-quality price data
  • Advanced security triggers

Powered by our decentralized BluzelleDB and advanced analytics, we produce the most reliable price point with a 5 step data cleaning process.

Furthermore, decentralized storage allows data from the Reef Finance platform to be stored on different hosts by distributing the files across the entire network without being restricted by any centralized entity. Flexibly managing data and effectively ...

To keep reading, please go to the original article at:
The Blueprint by Bluzelle - Medium

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