We're excited to announce that Volare Finance — a leading provider of decentralized options trading services — has integrated Chainlink Price Feeds on Avalanche mainnet.
By integrating the industry-leading decentralized oracle network, Volare Finance now has access to high-quality, tamper-proof price feeds needed to help foster DeFi crypto options trading by providing trading tools that professional options traders use. This provides our users with stronger assurances that Volare Finance eliminates the credit risk issues related to option trading in the over-the-counter (OTC) market in the conventional financial world by providing traders with fair and accurate market prices.
Our initial integration involves the use of the following Chainlink Price Feeds: USDC-USD, BTC-USD, ETH-USD, AVAX-USD. We chose Chainlink as our go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. Chainlink already helps secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.
The Volare mechanism stimulates trading in DeFi crypto options while providing experienced option traders with important information. It is ideal for option trading because of the product’s exceptional features, which users will value. The Volare protocol's fundamental unit is an order book.
The Volare team is experienced with traditional financial derivatives, and the product is fairly and reasonably priced. Our options trading platform gives users the benefits of profit-sharing, AMM functionality, exotic options products, market hedging, financial instructions, on-chain execution, and interest yields.
In order to help secure our decentralized options platform, we needed access to fresh asset prices that are supplied directly on-chain in a highly reliable manner. Fair market asset prices should reflect a volume-weighted average from all trading environments. Thus, we needed to make use of an oracle network to fetch aggregated price data off-chain and deliver it on-chain to be consumed by our application.
After reviewing various oracle solutions, we integrated Chainlink Price Feeds because they provide a multitude of critical features such as:
- High-Quality Data
— Chainlink Price Feeds source data from numerous premium data
aggregators, leading to price data that’s aggregated from hundreds of
exchanges, weighted by volume, and cleaned of outliers and wash trading.
Chainlink's data aggregation model generates more precise global market
prices that are inherently resistant to inaccuracies or manipulation of
any single or small set of exchanges.
- Secure Node Operators —
Chainlink Price Feeds are secured by independent, security-reviewed,
and Sybil-resistant oracle nodes run by leading blockchain DevOps teams,
data providers, and traditional enterprises. Chainlink nodes have a
strong track record of reliability, even during high gas prices and
- Decentralized Network —
Chainlink Price Feeds are decentralized at the data source, oracle
node, and oracle network levels, generating strong protections against
downtime and tampering by either the data provider or oracle network.
- Reputation System —
Chainlink provides a robust reputation framework and set of on-chain
monitoring tools that allow users to independently verify the historical
and real-time performance of node operators and oracle networks.
Finance is pleased to integrate the proven Chainlink price data
solution to help power a secure decentralized options trading
are happy to integrate Chainlink Price Feeds, a time-tested and proven
solution to the blockchain oracle problem that acts as critical
infrastructure for Volare Finance. “
–Astra, Technical Director at Volare Finance.
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link. To discuss an integration, reach out to an expert.
About Volare Finance
Volare is a leading provider of option trading, providing a transparent, trustworthy, and convenient decentralized mechanism for option trading which imitates the serviceability of centralized exchanges.
Volare's DeFi protocol creates a perfect solution for trading options in crypto. It provides a DeFi option protocol for European options, option combos, and exotic options. It also allows users to invest in standard or customized option strategies portfolios, and provides clients tools for hedging, speculation, and yield enhancement based on its infrastructure.