We’re excited to announce that PancakeSwap—a leading all-in-one decentralized exchange—is integrating Chainlink Data Streams and Automation on Arbitrum mainnet. By integrating Chainlink’s industry-standard low-latency and automation oracle solution, PancakeSwap will be able to access fresh price data on-demand at the start and end of each prediction round for the upcoming launch on Arbitrum.
Our initial integration involves using the following Chainlink Data Streams feeds: ETH/USD, BTC/USD, and ARB/USD. We chose Chainlink Data Streams as our preferred low-latency oracle solution because they supply high-quality data using proven Chainlink infrastructure, which achieves unmatched performance and security even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.
PancakeSwap is a fully featured decentralized exchange that enables users to maintain ownership of their crypto assets when they trade onchain, swap assets with low fees, and receive yield on staked tokens. The PancakeSwap platform also features NFT collectibles, prediction markets, and more.
To help secure our prediction markets, we needed on-demand access to high-frequency market data backed by decentralized and transparent infrastructure. Furthermore, we needed a neutral and decentralized settlement infrastructure to provide our users a fair and safe trading experience.
After reviewing various solutions, we integrated Chainlink Data Streams because they support a multitude of critical features, such as:
- Sub-second price resolutions: Chainlink Data Streams provide sub-second data delivery using battle-tested Oracle infrastructure, enabling a highly performant user experience without compromising Web3 values such as decentralization and transparency.
- Frontrunning protection: Chainlink Data Streams use conflict-of-interest-free data sources and a commit and reveal architecture to help ensure traders and liquidity sources are protected against malicious price manipulation and information arbitrage.
- Decentralized onchain execution: Data Streams leverage Chainlink Automation for near-instant, decentralized onchain execution, removing centralized points of failure during settlement and mitigating the risk of adverse selection (a situation where a dApp can select a favorable price at which to settle a trade or view the latest price report before submitting a trade).
- Time-tested Infrastructure: Chainlink is the most time-tested oracles solution,, helping enable over 9 trillion dollars in onchain transaction volume for leading DeFi applications.
“We’re excited to integrate Chainlink Data Streams and Automation to help power PancakeSwap’s prediction markets. Automatically pulling highly accurate, fresh, and decentralized market data at the start and end of each round helps provide users with higher-integrity prediction markets.” –Chef Mochi, Head Chef of PancakeSwap
About Chainlink Chainlink is the industry-standard decentralized computing platform powering the verifiable web. Chainlink has enabled over $9 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link.
About PancakeSwap PancakeSwap is a leading multichain decentralized exchange that operates on an automated market maker (AMM) model built on BNB Chain, Ethereum, Aptos, Polygon zkEVM, Linea, zkSync Era, Base, Arbitrum One and opBNB. Launched in 2020, Pancakeswap is one of the most popular DEXs in the cryptocurrency industry due to its low transaction fees, high-speed trading, and user-friendly platform. PancakeSwap has over $632 billion in total trading volume and over $1.5 billion in total liquidity locked, making it the leading multichain DEX in the industry. For more information, visit https://pancakeswap.finance/.