Partnerships can make or break any project in the cryptocurrency space. ChainLink’s price oracles are being integrated into a lot of services lately. Hxro, a gamified crypto platform, is the latest company to explore this particular option.
Hxro Takes the Next Step
Gamified crypto trading platform Hxro is intent on bolstering its existing offering. Their own way of playing the cryptocurrency markets has appealed to a lot of users. Integrating the price link oracles built by ChainLink will help to provide accurate data at all times. Both the .xBTC and .xETH Indices on Hxro will directly benefit from these extra price feeds.
For the centralized trading platform, this integration marks an important milestone. Other centralized providers show no real interest in integrating this decentralized oracle solution. A bit odd, given how they could all benefit from transparent data gathered and verified from multiple sources. Companies valuing fairness will see the immediate benefit of going down this route.
Hxro CEO Dan Gunsberg states:
“Integrating Chainlink’s secure, decentralized reference data as a source for comparison against our off-chain contract settlements is a first step in bringing decentralized pricing and settlement to our platform. Providing our users with transparency and fairness in our index pricing has always been a top priority for Hxro. As we continue to evolve the Hxro platform and introduce more on-chain functionality around our markets, this interim step will give users assurances that our settlement prices fall within the bounds of fairness and reasonability.”
By coupling ChainLink‘s data feed with the platform’s own .xBTC and .xETH indices values, an interesting situation is created. Approaching the pricing from different angles reduces the risk of unexpected deviations. Later on, the oracles will be integrated into other markets and even in lower timeframe contracts.