Kamino Finance Integrates Chainlink Data Streams To Enhance Market Data Quality
In Brief
Kamino Finance has integrated Chainlink Data Streams and launched Multi-Price Oracle System to enhance data accuracy, improve protocol reliability, and ensure resilient, up-to-date pricing.
Decentralized finance (DeFi) protocol, Kamino Finance announced the integration of Chainlink Data Streams, a decentralized oracle solution offered by Chainlink, into its oracle infrastructure, marking a step in its efforts to enhance protocol reliability, improve data accuracy, and minimize risk for users.
Chainlink Data Streams enables the continuous and real-time delivery of high-quality, off-chain data to blockchain applications. Unlike traditional oracle systems that may provide updates at fixed intervals, Data Streams allows for constant updates, ensuring that decentralized applications (dApps) receive live data from various sources in real time.
In order to ensure the safety and stability of its platform, Kamino Finance adopts a comprehensive approach that spans every layer of its technology stack. The integration of Chainlink is part of the protocol’s commitment to strengthening its infrastructure and eliminating potential single points of failure. Chainlink’s data streams have been running in Kamino Finance’s mainnet testing environment for several weeks prior to full integration. During this testing phase, the data streams consistently performed well, providing Kamino Finance with the confidence to proceed with a complete integration, which now further strengthens the platform’s oracle system.
Kamino Finance Unveils Multi-Price Oracle System To Ensure Accurate, Up-to-Date, And Resilient Pricing
In addition to the Chainlink integration, Kamino Finance has introduced an upgrade to its oracle infrastructure with the launch of the Multi-Price Oracle System, which was developed in-house. This new system is designed to pull data from multiple sources, including Chainlink, to ensure that pricing remains accurate, up-to-date, and resilient at all times.
The Multi-Price Oracle System aggregates data from several high-quality oracle providers, constantly cross-referencing them in real-time. This approach allows Kamino Finance to remove dependence on any single data provider, dynamically select the most current prices, and introduce self-healing features that ensure the system remains functional during downtime or when discrepancies arise. Before being launched, the system underwent double auditing by Certora and Offside Labs to ensure its security and reliability.
The integration of Chainlink Data Streams, alongside the Multi-Price Oracle System, significantly enhances the resilience of Kamino Finance’s oracle infrastructure, benefiting both the Kamino Finance platform and the broader Solana ecosystem. These updates contribute to reducing risk, improving oracle performance, and offering stronger assurances to users of the platform.
Kamino Finance: What Is It?
Kamino Finance is built on the Solana blockchain, designed to optimize liquidity provision by utilizing concentrated liquidity strategies. It integrates lending, liquidity provision, and leverage into a cohesive suite of products, allowing users to effectively manage their digital assets while earning passive income.
Recently, Kamino Finance introduced the Kamino Meta-Swap, a feature that enhances price execution across all token swaps on the Solana network. This new system aggregates major on-chain routes and incorporates a Request for Quote (RFQ) system in collaboration with Pyth. Additionally, the introduction of an Active Simulation Mechanism aims to establish a new pricing standard for swaps on Solana.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
