AEX Exchange Integrates Chainlink Price Feeds To Help Secure Pricing in Its OTC Markets and Other Financial Products
We are excited to announce that AEX Exchange, one of the earliest digital asset exchanges (founded in 2013), has integrated Chainlink Price Feeds. By integrating the industry-leading decentralized oracle network, AEX Exchange has access to high-quality, tamper-proof pricing data between various fiat currencies and cryptocurrencies. High-quality market data from Chainlink helps ensure that prices in AEX Exchange’s over-the-counter (OTC) markets and other financial products reflect accurate fair market rates.
We chose Chainlink as our oracle solution because its infrastructure is seamless to integrate and time-tested in production. Chainlink already helps secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans. AEX is using Chainlink Price Feeds to help establish floating exchange rates in its OTC markets and other financial products such as Crypto Savings, AEX Loan, ASwap, and more.
AEX Financial Services
- Spot Trading — AEX Spot trading lists 300+ coins, operating with three types of trading pairs for users to choose from: USDT, USDC, and BTC. https://www.aex.com/page/new_trade.html#/
- Fiat Currency — The AEX Exchange supports access to 22 fiat currencies: USD, AUD, CAD, CZK, DKK, EUR, GBP, HKD, NOK, PLN, RUB, SEK, TRY, SGD, THB, PHP, INR, IDR, VND, MYR, NZD, and more.
- Crypto Savings — The multi-finance model of AEX finance provides users with a wide range of services to earn tokens. Users only need to deposit tokens to earn interest according to the agreed period and yield. https://www.aex.com/page/financing_market.html#/
- AEX Loan — AEX supports Staking in 60+ tokens such as BTC/ETH/DOGE. The daily lending rate is 0.01%, so it is easy to borrow. At present, the scale of AEX Loan has exceeded 1 billion dollars.
- ASwap — The ASwap protocol provides lock-free mining and supports the circulation of assets across multiple public blockchains, which eliminates the need for on-chain operational barriers.
- https://www.aex.com/page/amm_swap.html#/
- ILO — AEX is one of the first in the industry to propose ILOs (Initial Lock Offerings). Users only need to lock the specified tokens to get the project tokens for free. Locked tokens include BTC, USDT, USDC, etc.
In order to help establish secure pricing in our OTC markets and other financial products, we needed access to fresh asset prices that are supplied directly on-chain in a highly reliable manner. Fair market asset prices should reflect a volume-weighted average from all trading environments. Thus, we needed to make use of an oracle network to fetch aggregated price data off-chain and deliver it on-chain to be consumed by our application.
After reviewing various solutions, we decided to integrate Chainlink Price Feeds because they provide a multitude of critical features such as:
- High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that are aggregated from hundreds of exchanges, weighted by volume, and cleaned from outliers and suspicious volumes. Chainlink’s data aggregation model generates more precise global market prices that are resistant to API downtime, flash crash outliers, and data manipulation attacks.
- Secure Node Operators — Chainlink Price Feeds are secured by independent, security-reviewed oracle nodes run by leading blockchain DevOps teams and traditional enterprises with a strong track record for reliability during market volatility.
- Decentralized Network — Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.
- Transparency — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.
“Chainlink Price Feeds are the standard for reliable, decentralized price data. By leveraging Chainlink’s industry-leading decentralized oracle network, we can provide our users with higher assurances that the prices in our OTC markets and other financial products are secure and tamper-proof.” — AEX Exchange team
About Chainlink
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.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link. To discuss an integration, reach out to an expert.
About AEX Exchange
- AEX has a strong technical team with 9 years of iterative upgrades to exchange and wallet systems. This precipitation can handle various network and security challenges.
- Various financial services, such as AEX Earn, Spot Trading, DeFi Pool, ASwap, and Staking, give platform participants enough space to deploy idle assets to earn desirable returns.
- List Valuable Cryptocurrencies. AEX is known as the valuable token discoverer and was the first in the cryptocurrency industry to launch DOGE, Ripple, BTS, NEM, Stellar, etc.
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