Categories: DeFi

PancakeHunny & Chainlink Partner for Oracle-based Price Feeds

PancakeHunny & Chainlink Partner for Oracle-based Price Feeds

To provide superior protection against flash attacks, PancakeHunny has joined hands with Chainlink. The price feeds services offered by Chainlink are well-known in the industry and can be easily considered the best in the business available today. The price feeds for the pairs CAKE/USD and BNB/USD are live on the mainnet of BSC.

In addition to its superior capabilities, the primary reason behind this integration is its absolute security against flash loans. The oracle solutions of the Chainlink are time-tested. By aggregating prices from both decentralized and centralized exchanges, Chainlink price forecast offers the most accurate, reliable, and dependable data to prospective users.

The facet of aggregating the data from various cryptocurrency exchanges makes the data offered by the Chainlink accurate and resistant to any flash attack. This is primarily because attackers won’t be able to skew the exchange rate as the data has been aggregated from a variety of different exchanges and not from one.

PancakeHunny is specifically designed to build maximum profits for the token holders. The auto compounding feature offered by the platform makes it one of the most attractive choices among investors. In order to work effectively, there is a requirement of oracle-derived solutions by PancakeHunny. The company’s smart contracts require access to the up-to-date price feeds, which has brought together both organizations to work in close collaboration with each other.

The reliable and quality data offered by Chainlink will play a key role in the working mechanism of PancakeHunny and help it deliver superior returns to the target customers. The oracle network of the Chainlink is run by credible node operators, and its decentralized nature ensures that it continues to retain the best capabilities, such as small downtime and superior safety against hacking and frauds.

With an increased focus on the safety and security of the investments, especially in the domain of DeFi, this union has got thumbs up from various cryptocurrency analysts and experts. This collaboration will help the platform to remain immune to the attack of flash loans while keeping the investment and faith of users in the domain of cryptocurrency and blockchain technology intact.

Trevor Holman: Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.