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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]
PR Contact:
ZEXPRWIRE
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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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eWTP Arabia Capital’s Technology Fund I Recognized as Top Performing VC Fund in the Preqin League Tables
RIYADH, Saudi Arabia, May 19, 2024 /PRNewswire/ — eWTP Arabia Capital Technology Fund I (“Techology Fund I”), managed by eWTP Arabia Capital (“eWTPA”), one of the leading private equity firms in the Middle East, was listed in the Preqin League Tables as the the fifth top-performing VC funds in the US$250 Million to US$499 Million category by net Internal Rate of Return (IRR) for vintages between 2015-2020.
“We’re delighted by the recognition of our Technology Fund I as a top-performing VC fund in our sector,” expressed Jessica Wong, Founder and Managing Partner of eWTPA. “This milestone underscores the commitment of our team and the robustness of our investment strategy. It also underscores the significant growth potential of the Middle East and North Africa market, particularly in Saudi Arabia, warranting attention. As a pivotal driver of technological advancement in the region, we’re steadfast in our mission to empower entrepreneurs and deliver value to our investors.”
“Being recognized by Preqin validates our hard work and dedication to supporting and actively contributing towards building the Saudi digital ecosystem,” said Jerry Li, Founder and Managing Partner of eWTPA. “As eWTPA continues to grow and expand its investment portfolio, it remains committed to fostering innovation and driving positive change in Saudi, the GCC and the global emerging markets ecosystem.”
eWTPA has demonstrated exceptional performance, solidifying its position among industry leaders. This recognition underscores eWTPA’s commitment to identifying high-potential market opportunities and generating returns for its investors.
The Preqin League Tables are regarded as a comprehensive and authoritative ranking system for private equity and venture capital performance. Preqin, a leading data provider in the alternative assets industry, compiles these league tables based on various performance metrics, including net Internal Rate of Return (IRR) and other key indicators.
eWTPA’s success reflects its strategic approach to investing high-growth sectors in the MENA region. The firm’s portfolio includes a diverse range of companies poised to make a significant impact on their respective industries.
Acting as a bridge between Asia and the Middle East, eWTPA’s Technology Fund I has achieved significant success since its inception in 2019. The Fund has invested in over 18 companies, several of which have successfully established themselves in KSA, like J&T Express, Raha, Sahm and COFE.
About eWTPA:
Founded in 2019, eWTP Arabia Capital is an investment firm based in Saudi Arabia and China. Backed by marquee regional and international Sovereign Wealth Funds, Institutional investors, and family offices, eWTPA helps create robust local digital ecosystems in the MENA region by partnering with market-leading international businesses and providing a gateway for these companies to establish a strong and sustainable presence in the region. To date, eWTPA has invested in over 18 companies, 13 of which have already established themselves successfully in KSA.
Media contact:
Haile Liao
+966 0530868568
[email protected]
Photo – https://mma.prnewswire.com/media/2416426/eWTP_Preqin.jpg
View original content:https://www.prnewswire.co.uk/news-releases/ewtp-arabia-capitals-technology-fund-i-recognized-as-top-performing-vc-fund-in-the-preqin-league-tables-302149554.html
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