Flux Protocol Integrates with Data Analytics Firm Amberdata
Flux Protocol is excited to announce its partnership with Amberdata, an industry-leading data provider whose data feeds secure some of DeFi’s largest protocols.
The Flux team has onboarded Amberdata to the oracle as a data provider, meaning Amberdata will now provide data to NEAR, Aurora, and other chains. In addition, Flux has awarded Amberdata a grant in FLX tokens to align the team as a long-term partner in the Flux ecosystem.
The Amberdata team provides financial institutions with comprehensive digital asset data through the Amberdata API:
- Metrics and signals
- Market data– tracking cryptocurrency market changes with real-time, day-to-day, and historical price data
- Blockchain network and DeFi data– verifying trade, token activity, and account balance data
Amberdata provides oracles like Flux with high-quality, real-time price-pair data. In other words, Amberdata provides data on the prices of different assets in the crypto space, assets across both centralized and decentralized exchanges. Amberdata currently supports twelve blockchains, making them a perfect data partner for Flux’s cross-chain future.
What does this integration mean for Flux community members and developers using the Flux oracle?
Flux now has access to some of the highest quality price data available today, which means any projects integrating with the Flux Protocol now have access to tailored data for their use-cases.
“We are thrilled to have Amberdata join the bustling Flux Ecosystem as a strong partner for data provision and validation,” said Peter Mitchell, CEO of Flux. “Amberdata provides a range of high-quality data feeds, which will enable developers to build robust, decentralized, and innovative products across multiple layer 1 and layer 2 protocols.”
By partnering with Amberdata, Flux is now sourcing price feed data from different exchanges, providing a more accurate representation of the market. Amberdata provides a tick-based price service, which updates in real-time on a minute-by-minute basis. This means protocols on Aurora, NEAR, and other layer 1s can leverage this data to build systems that need off-chain price data.
“Partnering with Flux and building on its fully decentralized oracle design enables us to reach a broader range of developers and DeFi projects, ensuring they have the most comprehensive, high-fidelity data to power their applications,” said Shawn Douglass, CEO of Amberdata.
Flux allows any smart contract to connect with crowdsourced, API-based, and price-feed data. Flux brings this data on-chain using a sophisticated validation and dispute mechanism that relies on economics principles to keep validators honest.
Flux is backed by world-class investors such as Distributed Global, Coinbase Ventures, Reciprocal Ventures, Coinfund, Maven 11, Flow Ventures, among others.