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LBank Exchange Integrates Chainlink Price Feeds for Secure Perpetual Futures Prices
Dubai, United Arab Emirates–(Newsfile Corp. – February 9, 2022) – We’re excited to announce that
Figure 1: LBank Exchange Integrates Chainlink Price Feeds
We chose Chainlink as our go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. Chainlink already helps secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value. It stays secure and available even amidst unexpected network events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.
As a global digital asset trading platform that provides services to more than 6.4 million users across the world, LBank Exchange has created a secure, innovative, and trustworthy space for crypto traders since 2015. Like many platforms in the industry, we’ve initially used mark price to prevent unfair and unnecessary liquidations that may happen during high price volatility. But since leading exchanges tend to reference each other in terms of prices, there are risks that these prices lose their reliability when the market is highly volatile.
To help secure our perpetual futures trading process for users, we needed access to fresh asset prices that are supplied directly on-chain in a highly reliable manner. Fair market asset prices should reflect a volume-weighted average from all trading environments. Thus, we needed to make use of an oracle network to collect aggregated price data in a secure and reliable way, without relying on recursive centralized feeds.
After reviewing various oracle solutions, LBank Exchange decided to integrate Chainlink Price Feeds because they provide a multitude of critical features such as:
- High-Quality Data – Chainlink Price Feeds source data from numerous premium data aggregators, which gives us price data that comes from hundreds of exchanges, weighted by volume, and cleaned of outliers and wash trading. Chainlink’s data aggregation model generates more precise global market prices that are inherently resistant to inaccuracies or manipulation of any single exchange.
- Secure Node Operators – Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises. Chainlink nodes have a strong track record of reliability, even during high gas prices and infrastructure outages.
- Decentralized Network – Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or oracle network.
- Reputation System – Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical and real-time performance of node operators and oracle networks.
After updating from mark price to fair market price via Chainlink, the new system will soon be widely adopted into futures price calculation, lending business expansion, various financial derivatives such as leverage, and other sections that involve user assets evaluation. By integrating with Chainlink, LBank Exchange will be able to provide users with more options for investment, and services with more precise asset value evaluation.
About Chainlink
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 that can 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.
Learn more about Chainlink by visiting chain.link or read the documentation at docs.chain.link. To discuss an integration, reach out to an expert.
About LBank Exchange
LBank Exchange, founded in 2015, is an innovative global trading platform for various crypto assets. LBank Exchange provides its users with safe crypto trading, specialized financial derivatives, and professional asset management services. It has become one of the most popular and trusted crypto trading platforms with over 6.4 million users from now more than 210 regions around the world.
Start Trading Now: lbank.info
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Contact Details:
LBK Blockchain Co. Limited
LBank Exchange
[email protected]
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/113249
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Wine Gift Box Launch Event “When Yantai Meets Bordeaux” Held in Paris to Commemorate 60th Anniversary of Diplomatic Relations between China and France
PARIS, May 6, 2024 /PRNewswire/ — The year 2024 marks the 60th anniversary of diplomatic relations between China and France as well as the Cultural Tourism Year of the two countries. On the afternoon of May 3, the Wine Gift Box Launch Event “When Yantai Meets Bordeaux” was held in Paris, France to commemorate the 60th anniversary of diplomatic relations between China and France. The event was organized by the News & Information Center of Xinhua News Agency and the Yantai Municipal People’s Government Information Office. Sixty guests from China and France, representing fields such as culture, tourism, cuisine, and environmental protection, attended the event. The event, part of the Sino-French Gastronomy Festival, aims to boost cultural exchange and mutual learning through the tasting of distinctive wines from each country.
Wang Lei, director of the News & Information Center of Xinhua News Agency, highlighted the longstanding friendship between China and France in his speech at the event. Over 130 years ago, the first wine company in China, Changyu, was established in Yantai, producing China’s first bottle of wine and the first bottle of brandy. The event is both a tribute to Sino-French friendship and a symbol of further deepening exchanges between Yantai and French red wine.
The event also featured speeches by key figures, who expressed their high praise and expectations for Sino-French cooperation, including Guillaume Roussy, former president of Saumur AOC-level Wine Association, and Pascal Durand, founder & chairman of Pinot Noir Association and agricultural engineer.
The event witnessed the official launch of the commemorative red wine gift box celebrating the 60th anniversary of diplomatic relations between China and France. The gift box, curated by Fabrice Sommier, featured one selection each from renowned red wines from Yantai and Bordeaux, forming the “60 Years of Sino-French Friendship, 60 Pairs” boxes. The French wine selected is the 2018 red wine from the Chateau Phelan Segur, while the Chinese wine selected is the Yantai Changyu Longyu Cabernet Sauvignon.
Gong Haitao, executive deputy director of the Publicity Department of the CPC Yantai Municipal Committee and director of the Yantai Municipal People’s Government Information Office, introduced in detail the development and historical cultural charm of the red wine industry in Yantai. Wine has been a vibrant purple name card for the world to understand Yantai and for Yantai to connect with the world.
The red wine gift box marking the 60th anniversary of diplomatic relations between China and France will be available for sale in China, with all proceeds donated to the environmental organization EcoTree to support global green and low-carbon initiatives.
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The General Assembly of Siniora Food Industries Company approved the distribution of cash dividends amounting to JD 4.2 million representing 15% of its paid-in capital, and stock dividends amounting to 2,147,059 shares
AMMAN, Jordan, May 6, 2024 /PRNewswire/ — In its ordinary and extraordinary meetings held on April 28, 2024, the general assembly of Siniora Food Industries Company approved the distribution of cash dividends amounting to JD 4.2 million to its shareholders, representing 15% of the company’s paid-in capital of JD 28 million. It also approved the distribution of 2,147,059 as stock dividends by capitalizing JD 2,147,059 from the balance of its returned earnings at year-end 2023.
Chairman of the Board of Directors Mr. Tarek Aggad commented that Siniora realized stable results in 2023 despite all the challenges faced by the company, including the war on our people in Gaza, the rise in bank interest rates, especially in Turkey, where the company operates a branch, in addition to the negative impact on the company’s results due to the application of International Accounting Standard #29 there. Aggad clarified that despite all these difficult circumstances witnessed by the region, which also included an increase in raw material costs and shipping expenses due to global events, the company achieved a net profit of JD 4.428 million in 2023 compared to JD 5.224 million in 2022. He added that the results attained in 2023 were supported by an increase of 10% year on year in the company’s sales, which amounted to JD 46.960 million in 2023 compared to JD133.628 million in 2022.
Aggad added that the company successfully issued bonds worth USD 80 million even under such exceptional circumstances, a testament to the company’s respected standing in the banking sector and strong financial and operational performance. Aggad stated that issuing bonds at a fixed interest rate of 7.75% for five years is a significant achievement for the company and will lead to reducing bank interest and improving the company’s results during the current year.
Aggad indicated that the company is in the final stages of increasing its capital cash by around JD 11 million, pending approval from the Securities Commission for its implementation, a move that will further the company’s ability to continue implementing its investment and expansion plans, especially in the construction of the company’s new factory in Jeddah, Saudi Arabia.
He added that the company continued its social responsibility initiatives by supporting the local community in all areas within which it operates, supporting various sectors including the medical, educational, and social sectors, and assisting our people in the Gaza Strip. Total investment in social responsibility in 2023 amounted to JD 455,000 compared to JD 366,000 in 2022.
Speaking about the company’s results, Siniora CEO Engineer Majdi Al-Sharif affirmed that Siniora maintained its sales level in the Jordanian and Palestinian markets despite all the conditions surrounding the region, which also included losing the company’s sales in the Gaza Strip during the last quarter of 2023. The company’s sales in the Gulf witnessed a significant growth of 12% and in the Turkish market by 30% due to inflation, which reflected on the company’s financial results for the past year.
He added that the company has launched the initial stages towards establishing its factory in Jeddah, Saudi Arabia, which will be a paradigm shift for the company and will support the company’s sales in the Saudi market.
Siniora Food Industries is a publicly listed company on the Jordanian financial market, and the owner of the Siniora, Unium, Polonez, and Al-Masa brands, and is a subsidiary of the Arab Palestinian Investment Company – APIC.
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TerraPay Continues to Attract Top Industry Talent, Names Hassan Chatila as Vice President and Global Head of Network
LONDON, May 6, 2024 /PRNewswire/ — TerraPay, a leading global money movement company, is excited to announce the appointment of Hassan Chatila as Vice President – Global Head of Network.
This key addition to TerraPay’s global network leadership also marks a critical step in the company’s ongoing strategy to simplify and streamline global money movement for businesses and individuals alike, underscoring its commitment to enhancing its network capabilities.
With over 20 years of experience in the cross-border payments, Hassan brings with him a rich legacy of leadership and innovation. Before joining TerraPay, he served as the Global Head of Western Union’s Account Payout Network, where he played a pivotal role in expanding and optimizing the network to support seamless global transactions. His impressive career portfolio also includes key leadership roles at Earthport and Temenos, where he led significant payments transformation initiatives and drove substantial growth.
In this new role at TerraPay, Hassan will lead the expansion and optimization of TerraPay’s global payout network. He will work closely with internal and external stakeholders to enhance the network’s capabilities, ensuring that TerraPay continues to offer its partners transparent and efficient payment solutions.
Welcoming Hassan to the team, TerraPay Founder and CEO, Ambar Sur, said, “It gives me great pleasure to welcome Hassan on board. As an industry expert, he comes with a highly reputable cross-border payment expertise and deep leadership experience. On TerraPay’s journey of growth, Hassan’s appointment is a critical step in furthering our network expansion goals. I look forward to working together and further deepen TerraPay’s position as a global money movement leader.”
Hassan Chatila, VP – Global Head of Network, TerraPay, commented on his new role, saying, “I am thrilled to join TerraPay at this pivotal time. Over the years, TerraPay has built an expansive global money movement network driven by the mission to build a borderless world of payments. I look forward to leveraging my experience to further develop our network capabilities, create new opportunities across markets and help TerraPay achieve its ambitious goals.”
For media inquiries, please contact [email protected]
About TerraPay
TerraPay simplifies global money movement – by providing a single connection to the most expansive cross-border payments network regulated in 31 global markets and enabling payments to 144 receive countries, 210+ send countries, 7.5Bn+ bank accounts and 2.1Bn+ mobile wallets. TerraPay is on a mission to connect a borderless financial world, making moving money everywhere instant, reliable, transparent and fully compliant. TerraPay pushes the boundaries for global businesses – ranging from banks, fintechs and money-transfer operators to travel businesses, creator economy platforms and e-commerce marketplaces – while driving financial inclusion in even the most inaccessible markets. Founded in 2014, TerraPay is headquartered in London, with global offices in Bangalore, Dubai, Miami, Bogota, Dar es Salaam, Kampala, Hague, Dakar, Joburg, Nairobi, Milan, Singapore and is expanding rapidly, having received funding from leading investors, including the IFC (the World Bank), Prime Ventures, Partech Africa and Visa.
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