Bondly x Chainlink Technical Integration
BondSwap, also known as BSwap, aims to simplify the escrow process for digital or physical goods, all powered by DeFi. With this launch, we believe we will fill a massive gap when it comes to providing on-chain OTC swap solutions.
In collaboration with ChainLink, Bondly will utilize Chainlink as our premier data oracle. Learn more about this collaboration below.
What is BondSwap?
BondSwap is an OTC Trading Portal that works directly on-chain. OTC (over-the-counter) trade requests can be sent and received via any chat app using different blockchains.
BondSwap solves several current problems in the crypto space including:
- Liquidity (or the lack thereof)
- Current AMM methods on Uniswap result in 5%+ slippage fees
Also, BondSwap will allow users the ability to swap crypto assets without complications, giving traders increased peace of mind.
Learn more details about BondSwap and how it works here: https://bondlyfinance.medium.com/bondlys-first-core-product-bondswap-is-here-3ba4a9121587
BondSwap Technical Integration with Chainlink
As a team, we not only want to deliver a product that is going to serve our community, but we also want to build one that benefits and unifies the collective DeFi ecosystem. This is why we, at Bondly, are focused on integrating technology and building real collaborations that allow the possibilities of DeFi to expand.
One of the collaborations we are most excited about is with Chainlink.
Bondly will utilize Chainlink as our premier data oracle. This naturally extends to BondSwap via integration with Chainlink’s widely used Price Feeds, which provide secure and reliable price data on assets held within our OTC protocols. Accurate price data serve as a reliable benchmark for customers, enabling them to make sound, fair-market decisions on OTC trades without ever leaving our app. We selected Chainlink Price Feeds because they deliver high-quality price data in a highly available, tamperproof, and transparent manner, ensuring our users have the most accurate and up to data information yet are protected against various data manipulation risks.
As Bondly’s data footprint grows, we also plan to become a Chainlink oracle node operator, providing proprietary data on “unique digital assets’’ such as social media accounts, domain names, and online businesses. These Chainlink-powered Bondly oracles will generate new ways to evaluate and track untapped digital assets and provide those data insights on-chain to bridge the gap between crypto and the latent digital economy. Through Chainlink, we can make those insights available to other DeFi developers and applications across numerous different blockchains, as well as beyond into the wider smart contract and digital economy.
“We’re excited to empower Bondly with secure and reliable oracles so users can tap into the growing digital economy with confidence, knowing that they are receiving fair market values on their OTC swaps. Additionally, we look forward to helping make Bondly’s proprietary data on unlisted digital assets available across leading blockchain environments, ultimately helping Bondly bridge the gap between DeFi and the current digital economy using data-driven insights,” states Daniel Kochis, Head of Chainlink Business Development.
With the launch of our core product BondSwap, OTC transactions can happen safely, simply, and securely on-chain. As we integrate more with our current partners and technology as well as expand our reach to new partnerships, we believe this technology will become a foundational element for the expansion of DeFi.
Use BondSwap Here: https://bswap.app/swap
Chainlink is the most widely used and secure way to power universal smart contracts. With Chainlink, developers can connect any blockchain with high quality data sources from other blockchains as well as real world data. Managed by a global, decentralized community of hundreds of thousands of people, Chainlink is introducing a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance and gaming ecosystems, among others.
Bondly is an interoperable, transparent, and portable swap protocol designed to revolutionize traditional escrow methods and make everyone into their own digital marketplace. Our family of trust-enabling DeFi products are designed to be a part of everyday buying and selling activities, giving peace of mind for swap or online purchases. Our product BProtect is a DeFi enabled eCommerce gateway specializing in integrating into your favorite online marketplaces very simply and easily with no integration fees, just staking tokens.