We are excited to announce that we will be making Kraken’s spot prices available to Decentralized Finance applications and developers on Ethereum and other leading blockchains by running our own Chainlink node. As one of the world’s largest and most liquid cryptocurrency exchanges, we feel it is critical to make our cryptocurrency data accessible directly on-chain to help trigger the secure and reliable execution of DeFi applications. Running our own Chainlink node will not only provide us with a mechanism to broadcast our Oracle Rates on any blockchain, but we can leverage Chainlink’s built-in cryptographic signing capabilities to provide users with definitive on-chain proof of that data originating directly from Kraken.
Kraken Intelligence, our in-house research team, is to release an in-depth report highlighting the risks of price manipulation and other vulnerabilities in DeFi markets to help market participants safely invest in these new opportunities. Providing Kraken spot prices through Oracle Rates is an important step towards increasing transparency and building trust in the digital asset industry.
Our spot price-based Oracle Rates can be used to obtain real-time data feeds that power a wide range of decentralized applications, such as derivatives contracts, lending applications, cross-border payments, stablecoins, automated asset management protocols, and more.
Making Kraken’s Oracle Rates Accessible Within DeFi
As one of the largest and oldest digital asset exchanges in the world, Kraken is consistently named one of the best places to buy and sell crypto online, thanks to our excellent service, low fees, versatile funding options, and rigorous security standards. Having been around since 2011, we are ready to bring our expertise and exchange data to blockchain’s fastest growing market segment: Decentralized Finance.
The Kraken Oracle Rates are computed by aggregating transactions conducted on the Kraken market for the direct asset…