Working as a secured and robust social crypto trading solution, Tycoon has announced its strategic partnership with Chainlink, the market-leading oracle service. The collaboration will allow Tycoon to integrate Chainlink’s Price Feeds into its ecosystem. This will help the firm to support and strengthen the diverse DeFi projects’ operability in its portal and offer fair market exchange rates on its crypto payments gateway channel.
As per the report, the team-up between the two popular blockchain-supporting entities will pave the way for furthering the objectives in the market space. Tycoon will offer a thoroughly decentralized interface to the customers to expand the spectrum of its financial services. The traders will get seamless access to reliable and transparent decentralized price feeds facilitating secured payment settlements. It will enhance financing capacities and investment product suite of crypto and traditional asset classes.
Empowering Defi Products with Accurate Data Feeds
Decentralized Finance or DeFi is one of the fastest-growing domains in the financial space currently. Studded with diverse product options, income sources, and high-end security, DeFi has managed to earn the trust of a good volume of investors. It helps unravel the benefits of cost-efficiency and multifold utility for multiple business arenas and individual traders. However, the fast-evolving sector has triggered a dubious state for the investors as they struggle to choose the best option in the lot. The DeFi service providing firms are finding it difficult to reach out to their audience.
Tycoon aspires to bridge the gap between the DeFi providers and users significantly. It leverages support to the high potential DeFi projects for the users via integration with external DApps and DeFi providers that clear the firm’s regulatory and KYC guidelines. The selected DeFi services are accessible on the Tycoon wallet for usage by the customers. With Chainlink Price Feeds, Tycoon will allow the developers to launch new products directly on Alchemy like to price collateral in new lending channels.
Trustworthy Exchange Rates for Digital Payments
Tycoon Pay’s payment gateway utilizes multiple risk management and hedging services when trading in volatile crypto assets to reduce transactional risks involved. The on-chain analytics and anti-fraud solutions help eliminate risks dominantly, accurate data fuels the process manifold times for the investors. This data plays a significant role in designing a strong payment solution, like setting exchange rates.
With Chainlink’s integration, merchants and customers will get the assurance of collecting fair market exchange rates in crypto payment dealing. This will encourage crypto adoption to a wider class of merchants and investors. Thus, strengthening its core objectives in the future.