Categories: Cryptocurrency News

JamonSwap Expects Growth After Integrating Multiple Chainlink Services

JamonSwap integrated Chainlink Keepers into the JamonSwap DEX on Polygon. As a result of this integration, users can place limited orders, stop losses, and profit orders as a result of this.

The company also now increased the integration with Chainlink to facilitate the continued growth and maturation of our decentralized infrastructure. JamonSwap can check the price of the tokens in a pair using a combination of Chainlink Keepers and Chainlink Price Feeds to assist in establishing tamper-proof pricing for limited orders.

Growth of JamonSwap supported by Chainlink Services

JamonSwap can now offer enhanced trading features thanks to the integration of Chainlink Keepers with JamonSwap. We can combine limits, take profit, and stop-loss orders using the data collected by Chainlink oracles.

JamonSwap aspires to be the POLYGON network’s decentralized exchange of choice, a tool capable of providing the best user experience while trading, managing, and investing their digital assets, such as cryptocurrencies. It’s a multi-cross-chain DEX built in the Polygon network that’ll handle a variety of networks, making DEX users’ lives easier. Users have access to leverage as well as advanced trading tools such as stop-loss and limit orders.

Chainlink Price Feeds allow performing queries about the pricing of a pair of tokens that can further help in establishing a tamper-proof price and executing the order. This protects users whose orders have already been programmed from price manipulation. Price Feeds are also utilized to help calculate bond incentives.

A raffle mechanism and a decentralized roulette wheel will also be available on JamonSwap. The company wanted to incorporate a verifiable random number generator (RNG) solution to help assure the randomness of the output. JamonSwap guarantees users solid assurances that the outcomes are random and fair by using Chainlink Verifiable Random Function (VRF).

Chainlink VRF has already been used in other applications. It was vital to use Chainlink in JamonSwap to fulfill the requirements of our new product and develop something unique in the decentralized finance industry, given the unrivaled quality of Chainlink oracle services.

Chainlink is a finely conceptualized industry standard for accessing and selling oracle services, which are required to run hybrid smart contracts on any blockchain. Smart contracts may connect to any external API and use safe off-chain computations to enable feature-rich apps thanks to Chainlink oracle networks.

Erica Lee

Erica is a finance professional who has over a decade of experience in the finance sector as a management consultant. After years of reporting on forex, stock markets, and finance, she now contributes her strong financial skills with the CoinNewsSpan team. Since 2014, she has been deeply involved in the blockchain and cryptocurrency space. She believes that blockchain technology has tremendous potential to make our lives better.

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Erica Lee