The Sonar Platform recently announced a technical partnership with Chainlink. The collaboration will see Sonar integrating Chainlink Price Feeds to render real-time data on the platform. In addition to that, Sonar will receive precisely tamper-free price feeds to facilitate data integrity and precision to users.
With the integration, Sonar users will be assured that their trading strategies are well-educated. In addition, Sonar will render the use-case since the premium feeds gather data from multiple decentralized and centralized exchanges.
The initial integration will involve the given price feeds:
- BTC-USD on Binance Smart Chain
- BUSD-BNB on Binance Smart Chain
- ETH-USD on Binance Smart Chain
- BNB-USD on the Ethereum network
- BTC-USD on the Ethereum network
- COMP-USD on the Ethereum network
- CRV-USD on the Ethereum network
- ETH-USD on the Ethereum network
- LINK-USD on the Ethereum network
- UNI-USD on the Ethereum network
Sonar stated that choosing Chainlink Price Feeds makes sense since its framework is quick to incorporate. Moreover, several platforms have tested the oracle, showcasing its versatility. The oracle has helped DeFi protocols generate billions of dollars in smart contracts. It maintains high data and security availability even during unforeseen circumstances like flash crashes, data manipulation attacks, and exchange downtime.
The integration will help Sonar offer several unique products. For example, it allows users to build personalized alert chains with innovative variables like exchange listing, influencer activity, and telegram activity.
Chainlink Price Feeds will make a global benchmark available to users, allowing them to compare prices on different exchanges and develop a quality user experience on Sonar. Moreover, the platform will integrate an integrated Web3 charting tool, multi-chain bridge, and Non-Custodial wallet. Thus, it helps Sonar achieve its goal of developing a one-stop station for every crypto need.
As the collaboration continues, Sonar hopes to maintain the partnership and improve the tools available to Sonar users. Jacob Camilleri, Sonar’s CEO, stated that Sonar aims to become the gold standard of trading and data-aggregation experience. Thus, the platform requires nothing less than the gold standard of oracle and price feeds solutions, Chainlink.