Blockchain News

OMO Swap connects with the Chainlink BUILD program

OMO Swap is fully equipped to integrate with the Chainlink BUILD initiative in order to accelerate ecosystem development and cross-chain exchange acceptance. This will be feasible due to enhanced accessibility of Chainlink’s well-established Oracle solutions and technical support. In addition, this will foster greater economic security in the cryptocurrency sector. As an exchange, OMO Swap shall be obligated to remit network fees to the Chainlink community, including service providers and stakers. This will increase adoption of cross-chain swaps and generate additional knowledge regarding OMO Swap.

OMO Swap’s goal is to facilitate more cross-chain swaps with no restrictions on liquidity and no slippage. Bringing together a plethora of DEXs would allow them to provide users a wide variety of assets for trading across chains.

OMO Swap and BUILD collaborated in order to maximize the benefits associated with the dependability and security aspects of Chainlink’s Oracle framework. Under its integration with BUILD, OMO Swap will gain access to several significant benefits, including the ability to utilize Chainlink Price Feeds to enhance the performance of a circuit breaker. In addition, CCIP for cross-chain services and the availability of alpha and beta product deliveries for Chainlink will be implemented.

Over time, OMO Swap will allocate 4.5% of its native token supply to Chainlink service providers, including stakers, in return for these services.

Matt Powers, director of communications for the OMO Swap, states that Chainlink BUILD will provide the organization with industry-standard Oracle solutions, technical support, and a robust cryptoeconomic system that will enable the development of secure cross-chain swaps.

Chainlink is a benchmark for decentralized computing solutions that promote the authenticated web. It has processed a huge number of transactions by providing financial institutions, entrepreneurs, and developers with real-time data, off-chain computation, and secure cross-chain interoperability across all blockchain platforms.

In contrast, OMO operates as a cross-chain aggregation protocol across six distinct blockchains, including but not limited to Ethereum, Optimism, Arbitrum, Polygon, Avalanche C-Chain, and Base Chain. The utilization of OMO enables users to perform on-chain and cross-chain swaps with minimal slippage.

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.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button