This article was first published on The Blueprint by Bluzelle - Medium
Equilibrium Integrates with Bluzelle Decentralized Oracles to Power Cross-Chain Liquidity on Polkadot
📢 Equilibrium, the first decentralized cross-chain money market built on Polkadot, has announced a partnership with Bluzelle. The project will integrate Bluzelle’s decentralized price feed to power its main DeFi services like lending, borrowing, and trading.
Equilibrium is a one-stop money market that combines pooled lending with the ability to generate synthetic assets and to trade. Polkadot’s cross-chain bridges let users utilize assets from multiple major platforms like Bitcoin, EOS, Ethereum, Binance Chain, and so on.
Equilibrium chose Bluzelle as its oracle solution for these outstanding features:
- Fast pricing intervals. The crypto market is volatile and any fluctuation can greatly impact the programmatic interest rate of borrowing and lending on Equilibrium. We want price data to be as accurate and up-to-date as possible. Bluzelle oracles provide real-time prices for crypto assets and refresh this data every several minutes. New and historical values are stored in Bluzelle’s decentralized database, which are ready for grab quickly and won’t be constrained by congestion issues on other blockchains.
- High-quality price data. Bluzelle’s oracles aggregate market data from a wide variety of reliable sources, and are operated by a decentralized network of nodes. We use a five-step process that votes in and out data from reputable places and runs statistical analysis on prior price to ensure accuracy and validity, to arrive at a blended value that can be trusted and stored.
- Advanced security triggers. Bluzelle Oracles run statistical analyses of data from different sources, as well as against historical values. It generates warnings when a price point appears out of the ordinary, preventing any bad actors from creating a flash loan attack by altering the price feed. This adds an additional safety net for protecting users’ assets on Equilibrium.
“We believe that reliable and diversified price feed ...
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The Blueprint by Bluzelle - Medium