Bullionix announced that it has partnered with leading decentralized oracle provider Chainlink to access accurate and reliable gold prices through XAU/USD data feed on Jul 01.
.@Bullionix_io, a dApp for minting 3D gold-staked NFTs, has successfully integrated Chainlink’s XAU/USD Price Reference Feed into their system. This provides Bullionix with a highly reliable & manipulation resistant gold price for tracking the gold market. https://t.co/jXwBD0Z58x— Chainlink – Official Channel (@chainlink) July 1, 2020
The Bullionix team chose Chainlink, because the service provides the best manipulation resistance and multi-sourced price feeds for cryptocurrencies, FX rates, precious metals (gold and silver) and other products. They are further exploring unique ways to use Chainlink Verifiable Random Function (VRF) and creation of dynamic NFTs, responding to real world events.
Creator of Bullionix, Jesse Johnson, expressed his excitement for the integration, stating “By integrating with Chainlink, we were able to bring more transparency and decentralization to the tracking of our gold-backed NFTs and make our gold markets hub incredibly compelling.”
Bullionix is a decentralized crypto service, which allows users to mint actual gold-backed Non Fungible Tokens (NFTs). It allows customization of gold units (1 DGX = 1 gram of gold) and selection between rare designs to mint 3D high resolution digital assets, inside the Bullionix display case, allowing an asset to have both gold and speculative value.
Chainlink is a decentralized data oracles service, which connects smart contracts to off-chain real world events information. The oracles are secure, resistant to manipulation and thus reliable. The main product Chainlink price reference contracts consists of 30 DeFi price feeds, on the Ethereum network, each consisting of 7 to 21 secure, independent Sybil resistant nodes, sourcing data from a high quality aggregator.