Cardence Integrates Chainlink Oracle Services to Strengthen its Platform

[PRESS RELEASE – Please Read Disclaimer]

The team behind Cardence is happy to announce that it’s integrating Chainlink Price Feeds and Chainlink Verifiable Random Function (VRF) in an attempt to bring enhanced functionality to its multichain decentralized presale platform and launchpad.

The reliable and highly secure market data provided by Chainlink’s Price Feeds will enable Cardence to participate in presales using different cryptocurrencies. At the same time, the auditable source of on-chain randomness that’s brought by Chainlink’s VRF will help ensure fair and transparent distribution of rewards and IDO whitelisting.

Integrating Chainlink is, in general, a very important step for the future of the ecosystem. Chainlink Price Feeds are known to be the most widely accepted price oracle solution when it comes to the smart contract industry. All of the reliable projects in DeFi take advantage of them. For the initial integration, Cardence is using price feeds for ETH/USD, BNB/BUSD, and MATIC/USD. The team says that the next step would be to integrate more price feeds to facilitate cross-chain purchases such as user purchases in a BSC presale using ETH, for example.

There are multiple benefits of integrating Chainlink price feeds. Accurate trading information is one of the most important things to consider. The feeds source data from various premium aggregators, leading to a price that’s collected from hundreds of exchanges – both centralized and decentralized. In addition, data security should also be considered because of the fact that Chainlink’s price feeds decentralized the data sourcing and the data delivery processes – this generates serious protections against anomalies and tampering.

However, it’s also important to consider that Chainlink’s VRF integration also brings notable advantages. This is a tamper-proof and auditable source of randomness. This will be used to distribute project prizes, as well as airdrops, while also hosting secure and honest competitors and engaging in fair and unbiased whitelisting.

The team plans to create an ecosystem where the projects can carry out their very own community-building efforts and their presales. Through the Chainlink VRF, Cardence creates user reward portals for distribution and airdrops, for presale whitelisting activities, and so forth.

Speaking on the matter was Obaid UI Ahad, CEO at Cardence, who said:

“We are pleased to bring enhanced functionality to our ecosystem by integrating two highly secure and reliable oracle services from the Chainlink Network. […] Chainlink Price Feeds will help ensure that our users have consistent access to fair-market exchange rates for crypto-to-crypto transactions, while Chainlink VRF establishes a fair selection mechanism for picking users within high demand processes.”

About Cardence

Cardence brings forward a Cardano-focused multichain decentralized presale platform. Its goal is delivering a trustless fundraising ecosystem. The platform is launching on Ethereum, Matic, Cardano, Ethereum, and Cardano. It’s also touted to be the first presale platform that facilitates affiliate marketing of projects, release of tokens per a vesting schedule, whitelisting of various participants, and auto-locking of liquidity.