PancakeSwap to add Chainlink Data Streams & Automation on Arbitrum

PancakeSwap has announced the addition of Chainlink Data Streams and Automation to the Arbitrum mainnet to receive real-time price data. This will enable it to predict the commencement and conclusion of each round in relation to the forthcoming launch on Arbitrum. This will be achieved by utilizing Chainlink’s preeminent automation and low-latency Oracle solution.

The initial integration of PancakeSwap will occur via Chainlink Data Streams, including BTC/USD, ETH/USD, and ARB/USD. The organization is concentrating on Chainlink Data Streams to obtain access to sophisticated data that uses the well-established Chainlink framework. This possesses safety features and an exceptional capacity to withstand unforeseen circumstances, including exchange outages, flash crashes, and data manipulation assaults facilitated by flash loans.

PancakeSwap is a decentralized exchange that allows users to retain ownership of their cryptocurrency assets while conducting on-chain trading. Additionally, users can trade assets at reduced fees and earn interest on staked loans. The PancakeSwap platform includes prediction markets and NFT collectibles, among others.

A decentralized and transparent framework that facilitates the on-demand accessibility of high-level market data is necessary for organizations to effectively utilize their prediction markets. Additionally, in order to provide their users with a secure and impartial trading environment, they required a decentralized and neutralized settlement framework.

After careful deliberation, PancakeSwap made the decision to utilize Chainlink Data Streams due to their exceptional features, which include transaction times in the sub-second range, first-rate security measures, decentralized on-chain implementation, and a well-established framework.

As stated by Chef Mochi, the Head Chef of PancakeSwap, the integration of Chainlink Data Streams and Automation will allow the organization to expand its prediction markets. They will find the current market data that they acquire really useful.

Chainlink serves as the standard by which decentralized computing platforms enhance the credibility of the web. Chainlink has facilitated millions of transactions across all blockchains by providing connectivity to off-chain computation, real-time connectivity, and secure cross-chain interoperability. Their international target audience consists of developers, financial institutions, and startups.

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PancakeSwap, launched in 2020, is a top multichain decentralized exchange that uses an automated market maker (AMM) module built on the BNB Chain, Aptos, Ethereum, Polygon zkEVM, Linea, Base,  zkSync Era, Arbitrum One, and opBNB.

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.

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