[PRESS RELEASE – Please Read Disclaimer]
The Risq protocol integrates a Chainlink price feed to help secure connectivity and place choices on crypto
The vision of Risq Protocol has always been to become the largest DeFi options trading platform while providing users with accurate prices that cannot be tampered with.
To achieve its goal, the Risq protocol is pleased to announce the integration of the price feed of the industry-leading decentralized oracle network, Chainlink, onto the Binance Smart Chain (BSC) mainnet.
This integration will allow the Risq protocol to access the high-quality, tamper-resistant price feed it needs to ensure accurate pricing of option premiums and profits and losses at the time the options are exercised.
The Risq Protocol Options Desk is a decentralized options trading platform where liquidity providers act as options writers and traders can buy or place options to take trades on asset price movement or to protect their crypto holdings from price drops.
To ensure high levels of security for call and put options contracts, the Risq protocol needs to get its hands on the prices of new assets collected from multiple trading environments and supply directly across the chain in a highly reliable manner.
With Chainlink already serving many of the leading DeFi protocols responsible for billions of dollars in smart contract value and maintaining strong security and high availability at all times, the Risk Protocol is the perfect choice to achieve its goal.
The initial phase of integration will see the use of the Risq protocol for Chainlink price feeds for WBTC, BNB, ETH, BCH, LTC, LINK, COMP, CAKE, UNI, YFI, AMZN, TSLA, PAXG, and GOOGL. After that, future updates will include all USD supported pairs and more feeds.
Commenting on the integration, Mace McLain, co-founder of Risq Protocol, said, “We chose Chainlink because we wanted to use the most reliable Oracle network with access to more blockchains and more price feeds compared to other projects.”
About the Risq . protocol
The Risq Protocol provides Dapps for decentralized risk and asset management starting with trading DeFi options on OptionsDesk.
Chainlink is the industry standard for building, accessing, and selling the oracle services needed to run hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to trustfully connect to any external API and take advantage of secure off-chain computing to enable feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other key industries, providing global institutions and leading data providers with a global gateway to all blockchains.
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