LiquidApps, a blockchain technology company focused on optimizing decentralized development, announces the integration of the LiquidOracles solution into Equilibrium‘s EOSDT stablecoin framework. The LiquidOracles integration will enable EOSDT to source asset pricing data in a seamless and robust fashion, unimpeded by network congestion and harmful attacks.
Blockchain oracles serve a critical function on DeFi applications by providing external, non-blockchain-based information on asset prices that is crucial to their on-going processes. These processes include, among others, dynamic pricing models, processing margin calls, and risk management, which require a diversified set of oracles in order to achieve security through redundancy. Using a diversified set of oracles allows each oracle to return the requested data before the system aggregates the final asset price. However, oracles, often built off-chain, can become strained by a congestion of transactions on a blockchain network. When they stop functioning properly, data flow on prices can freeze and the mechanisms can be easily exploited, causing price disruptions in the transaction network that can cost millions.
Equilibrium has integrated the DAPP Network’s LiquidOracles, which keeps the data verification on-chain, protecting the data streams flowing into smart contracts from manipulation and systematic failures. LiquidOracles allows the chain parties to each validate its performance, while offering the following options:
- Built-in and trustless: LiquidOracles does not require a separate chain to operate oracles, while still remaining fully decentralized.
- Source freedom: Adopters of LiquidOracles can choose from any single source or number of sources for data streaming based on the DSP’s needs.
- Customizable trust: Developers can choose between two or more DSPs, and compare their responses. Equilibrium, for example, has even decided to run its own DSP on the DAPP Network, verifying LiquidOracles’ results as an additional layer of security.
- Trust balancing: Developers can adjust the choice of the level of trustlessness they want by modifying the number of DSPs used and therefore the operational cost. A program that requires more trust, like a financial institution will require more DSPs, but will pay more, whereas one that requires less trust, can use less DSPs and will pay less.
- Staking advantage: Staking on the DAPP Network, instead of paying per use, acts as an incentive to the DSP to maintain their reliable infrastructure, thus enhancing the robustness of these oracles.
“We are excited that Equilibrium has decided not only to integrate LiquidOracles, but to scale its impact by becoming a DAPP Service Provider (DSP) on the DAPP Network,” says CEO of LiquidApps Beni Hakak. “LiquidOracles is crucial to supplying data with a high degree of integrity to DeFi DAPPs, and now third-party developers can gain access to Equilibrium’s efficient price feeds and seamlessly integrate them within their DAPPs.”
“We look forward to expanding our offering further as DSPs on the DAPP Network, and having accurate, reliable price information is crucial to the smooth functioning of the EOSDT stablecoin, says CEO of Equilibrium Alex Melikhov. “With LiquidOracles, we’ve found a solution that is engineered to work seamlessly in any condition, and can remain unaffected by congestion or network fees.”
