We are thrilled to share that Micro3, a decentralized SocialFi Mint-to-Earn (M2E) platform, has incorporated Chainlink Price Feeds. This integration with the industry standard decentralized oracle network grants Micro3 access to top-notch, tamper-resistant price feeds crucial for showcasing precise NFT prices on different blockchains. This enhancement helps ensure our users have greater confidence that the NFT prices shown in the user interface stem from exceptionally accurate, trustworthy, and decentralized price data.
With assets denominated in cryptocurrencies like BNB or ETH, it's imperative to have access to real-time, aggregated price data sourced directly from reliable trading environments. This helps ensure fair market asset prices, crucial for maintaining trust and integrity within the platform.
The importance of accurate price data transcends beyond mere convenience; it's a fundamental requirement for the secure operation of DeFi protocols. Whether it's prediction markets, derivatives exchanges, or lending platforms, precise price data safeguards users and upholds the autonomy of DeFi applications. NFTs, with their unique properties, pose an additional challenge in generating accurate pricing. Manipulated or low-quality data can introduce systemic risks, undermining the stability of the entire NFT economy.
Chainlink NFT Floor Price Feeds address these challenges by leveraging decentralized oracle networks and Coinbase Cloud's robust pricing methodology. By scanning price data across multiple prominent NFT marketplaces and filtering out anomalies, Chainlink ensures the integrity of the data set. Individual data points are then processed using Coinbase Cloud's adaptive percentile prediction algorithm to arrive at a reliable floor price. This meticulously curated price data is securely delivered to smart contract applications through Chainlink's decentralized oracle network.
In addition to minting participation of users, Micro3 employs Chainlink Price Feed to help ensure accurate valuation of NFTs within its ecosystem. This integration helps guarantee that users engaging in minting activities can trust the displayed prices on the platform, enhancing transparency and reliability. Moreover, Micro3's versatile infrastructure offers projects and content creators the opportunity to seamlessly deploy their own NFTs. This functionality exemplifies Micro3's commitment to providing NFT Infrastructure As-A-Services, fostering accessibility and inclusivity within the decentralized ecosystem.
About Chainlink
Chainlink is the industry-standard decentralized computing platform powering the verifiable web. Chainlink has enabled over $9 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link
About Micro3
Micro3 is a Decentralized SocialFi Mint-To-Earn (M2E) platform, empowering Web3 projects and individuals through creator economy, utilized by LayerZero and Chainlink technologies.
Website | DApp | Twitter | Discord | Link3 |
Contact: business@micro3.io