Revuto Integrates Chainlink Price Feeds For Enhanced Price Accuracy in Cardano dApp
Chainlink is widely regarded as the best oracle solution in the blockchain industry, so it gives us great pleasure to announce that Revuto has officially integrated its widely used Chainlink Price Feeds. This integration marks a turning point towards building more impactful decentralized finance (DeFi) services for the Cardano ecosystem.
Notable for helping secure tens of billions of dollars across multiple blockchain environments, Chainlink provides tamper-proof inputs, outputs, and computations to support advanced smart contracts on any blockchain. Chainlink, an open-source protocol for building decentralized oracle networks, has been integrated into hundreds of decentralized applications (dApps) to enhance their functionalities, and will undoubtedly help Revuto achieve its objectives in the coming months and years.
As many of you will already know, Revuto is one of the world’s first active subscription management solutions built using blockchain technology. Revuto leverages Cardano’s native tokens and DeFi infrastructure to save users money when paying subscriptions. However, in order to support Cardano’s young but fast-growing ecosystem, we needed to access data beyond the Cardano blockchain. Needless to say, our decision to integrate with Chainlink was a no-brainer.
Chainlink specializes in providing smart contracts access to external data and off-chain chain computation in a secure and reliable manner. In the case of Chainlink Price Feeds, a decentralized network of nodes is used to fetch price data from multiple premium data sources. The data is then aggregated into a single trusted result and posted on-chain at regular intervals for DeFi applications to access within their own execution. You can learn about the full scope of Chainlink by reading their whitepaper.
Initially, Revuto will use Chainlink Price Feeds for the ADA/USD and ADA/EUR trading pairs. The data will be displayed in our app and wallet users, as well as future plans to incorporate it into our staking mechanism. By making accurate, tamper-proof information about the price of ADA and other Cardano native tokens available to our growing army of Revutonians, we will establish a solid foundation upon which to build the best DeFi setups on Cardano.
Our first implementation will read data from the Chainlink Price Feeds every 30 seconds, and then redistribute that data over our APIs. This configuration will enable us to have our central distribution of prices and data with a simple API call and will be agnostic to any tweaks we will need to make later. Once Chainlink Price Feeds natively deploy on Cardano, we can adjust the setup to read directly from Cardano.
“We’re thrilled to be able to integrate the best decentralized oracle network in the blockchain space, which is an essential step towards building more advanced DeFi services on Cardano”, stated Revuto Co-founder Vedran Vukman. “Not only does Chainlink feature multiple layers of decentralization, but it’s easy to use and provides very accurate data. The entire Revuto team is confident that this integration will help us bring amazing and robust products to the Cardano ecosystem and to our 250K active users worldwide.”
We know that many of you have been patiently waiting for our DeFi stack to take shape, and that you have been encouraged by our strides thus far. Beyond being the first token sale on Cardano, we recently launched a new lite wallet and were named the Fastest Growing Consumer Product in Crypto for 2021 at the World Blockchain Summit. In many respects, our Chainlink integration is a real game-changer. There is a reason why some of the biggest and best companies in the industry have integrated with the open-source protocol — we’re thrilled to be in such good company!
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.
Revuto is an active subscription management solution and first ever token sale on Cardano. Revuto raised $10M and has 3m signups for early access with 250k active users worldwide.
By leveraging Cardano native tokens and DeFi to pay for subscriptions, Revuto’s ecosystem is designed to save people money when paying subscriptions, regardless of crypto market conditions. Revuto users can subscribe to services using the Revuto virtual debit cards, the built-in wallet supports Cardano-native tokens, and the accompanying app can be used to Block, Snooze or Approve subscription charges as they occur.
In case you missed:
📣 Previous Medium article —Revuto is Crushing It On Discord and Reddit
📳 Latest app update — Notification center
❣️ Revuto on Entrepreneur — Read more about unwanted subscription charges
📽 Our first ever Live AMA — Watch on YouTube
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🔍 Revuto on Business Insider — Read more
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📻 UK Radio campaign — Listen to our slot
💫 Unique Revuto NFTs — See all NFTs
✌️ Interview with our co-founder Vedran — Read more
❓ Cryptotech x Revuto AMA — Read the recap
🙋♀️ Meet the faces behind the screen — See our video
🎥 Our co-founder Jos on Cardano360 — Tune in at 38:20
🎂 Our Token Generation Event (TGE) aka REVU Token birthday — See the event
☄️ Registered REVU investors by countries — See all countries
🎙 Cardano live podcast with our co-founder Jos — Listen to the podcast
🧗♀️ Our first teambuilding — See our TB video
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