Chainlink Price Feeds on ArbitrumTracer's Perpetual Pools Launch With Chainlink Price Feeds
In a previous announcement, we spoke of our intention to integrate Chainlink Price Feeds as part of our permissionless financial contract infrastructure – we're pleased to announce that the integration is now live on the Arbitrum mainnet. Perpetual Pools utilises Chainlink Price Feeds hourly to determine the value transfer between long and short sides of a pool; and to move funds between users in the pools.
DeFi users can now gain access to non-liquidatable, fully-fungible tokenised leverage on a platform secured by trustless oracle infrastructure. Our initial integration involves the use of the following Chainlink Price Feeds: ETH-USD and BTC-USD, with the ability to scale up in the future to meet ecosystem demand. These Price Feeds underscore the Perpetual Pools mechanism, opening up a new experience where DeFi users have a sustainable leverage token to go long or short on any asset.
Perpetual Pools is a new financial primitive that allows you to take a short or long position on any underlying asset. These positions are non-liquidatable, fully collateralised, fully-fungible and can exist perpetually without upkeep – they exist as ERC20 leveraged tokens that live inside your wallet. These tokens enable you to seamlessly interact with the DeFi economy – you can mint your beliefs (whether they be short or long) and leverage your exposure to those beliefs.
What's great about these leveraged tokens is that they can earn you TCR rewards. How? By minting and staking in Tracer's staking contracts using the super easy, user friendly Perpetual Pools interface. You can check out our step-by-step guide on the minting and burning process using that interface, right here.
After reviewing various oracle solutions, Tracer DAO selected Chainlink Price Feeds because they provide access to the highest quality data, with broad market coverage and robust oracle infrastructure that's proven to be reliable during extreme network conditions; along with various on-chain monitoring systems that allow users to verify the integrity and performance of oracle networks. This results in highly accurate, timely, tamper-proof, and transparent price reference data that’s made accessible on-chain for our smart contracts to consume in a single function call.
Access Digital and Real World Markets with Chainlink Oracles
Tracer's infrastructure lets users gain exposure to any digital and real-world market with an oracle price feed by forming simple derivative agreements. By porting existing price data on-chain with strong uptime, correctness, and tamper-resistance guarantees, countless new local and global markets can be formed that allow both individuals and firms to manage their risk.
Instead of being at the mercy of fluctuating market prices (for example, fuel prices), consumers can lock in their prices with a simple, easy-to-use derivative contract. With fast, zero-permission deployment for Perpetual Pools, Tracer can capture markets as soon as there's a trusted price oracle.
"Integrating Chainlink Price Feeds into Tracer's Perpetual Pools was a seamless process, with us now being able to support every single Chainlink Price Feed out of the box, simply given the feed address. Secure and reliable price feeds are the most critical piece of infrastructure for Tracer, as they enable the movement of funds between users in each perpetual pool, allowing the protocol itself to work. Being such a critical piece, it has always been important that we have reliable and consistent price data, which Chainlink has provided." - Raymond Mogg, a core Tracer DAO contributor.
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications.
Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.
Tracer is an open-source, smart contract protocol for derivatives that enables anyone to deploy a derivatives market from a Tracer Factory template to manage their digital and real-world financial risk.
The first derivatives market to launch is a new primitive – Tracer Perpetual Pools. No margin. No liquidations. Fully fungible tokens for the DeFi economy. You can now acquire low-cost, leveraged exposure to any asset with zero risk of liquidation, zero trust in a centralised party and zero limits set on leverage.
TCR is the governance token for Tracer DAO. TCR grants its holder the right to participate in the governance of the protocol and vote on proposals. Proposals are community-driven and may include: research engagements, advisory roles, protocol upgrades, management of the treasury, software development, media partnerships, security audits and a host of other important responsibilities.
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