Thor Financial recently announced integrating Chainlink Price Feeds to improve its node maintenance fees calculation process. The DaaS (DeFi-as-a-service) and NaaS (Node-as-a-Service) protocols integrated the feeds on Avalanche mainnet.
With the integration, Thor Financial has gained access to top-quality price feeds that ensure precise calculation of node maintenance fees. It will help the users put complete faith in Thor Financial and its charges.
For starters, the protocol will use the feed for AVAX/USD, slowly increasing the range to other pairs. Choosing Chainlink as an oracle solution has almost become a natural choice in the industry, given its time-tested performance.
The oracle solution has assisted several industry-leading DeFi protocols in managing smart contracts worth tens of billions of dollars. Its high availability and robust security have been proven throughout the years, even against data manipulation attacks, exchange downtime, and flash crashes.
Since Thor Financial denominates its maintenance fees in US dollars for node holders, they address the high volatility factor in the market. Chainlink Price will provide Thor Financial with real-time pricing data to improve its smart contract maintenance and fees calculation.
Fair asset prices will also reflect a volume-based average from every trading scenario. Chainlink Oracle will fetch the price data off-chain and deliver it for applications’ consumption. The four crucial benefits include:-
- High-quality data
- Secure Node operators
- Decentralized network
- Fair reputation system
Thor Financial also plans to integrate Chainlink VRF (Verifiable Random Function) for its play-to-earn game, Gods of Asgard, and NFT projects. Given the features and reliability Chainlink offers, the integration is certain to be a boost for Thor Financial.