Synapse Network is the latest blockchain project that integrates Chainlink services. An ongoing integration will happen that includes VRF, Price Feeds, and Keepers.
It’s going to launch a cross-chain launchpad, and Chainlink services will help it enhance the experience and reliability of the service. VRF will make sure that IDO launches are fair on the launchpad. Price Feeds will help the determination of exchange rates for the native SNP token. And Chainlink Keepers is a great addition that helps Synapse automate staking and vesting contracts.
Comprehensive Solutions from Chainlink
Chainlink is the leading decentralized oracle provider in the blockchain industry. Many projects use its services to improve the accuracy and reliability of their systems. Price Feeds is the most famous service that many projects use to determine fair prices for various tokens. But other services like VRF and Chainlink Keepers are also useful.
Synapse Network announces that it’s going to use three Chainlink services to create a practical solution. Its upcoming cross-chain launchpad will use all of the mentioned services.
Synapse Network chooses Chainlink mostly because of its security. DeFi projects surely need secure oracles to offer the best experience to investors. Chainlink’s decentralized solutions have shown their capabilities in numerous projects. Synapse, developing a cross-chain ecosystem, needs the most reliable services. The team behind this project believes that Chainlink will provide the stability, functionality, and efficiency necessary for a smooth launch.
As mentioned above, VRF, Price Feeds, and Chainlink Keepers will be integrated into Synapse Network. VRF is a verifiable random number generator that helps Synapse fairly select winners of IDO launches. Price Feeds is responsible for providing fair prices for the native SNP token of Synapse Network, based on decentralized exchange rates. The announcement tells about the use-cases of Chainlink Keepers for Synapse Network:
“Essentially, Chainlink Keepers automate contract maintenance tasks that otherwise would be performed manually by development teams by issuing transactions that notify the smart contract when it’s time to execute. With Chainlink Keepers, our developers can save valuable time by outsourcing routine operations for our staking and vesting contracts, particularly waking these contracts up when it’s time to distribute staking rewards based on certain thresholds being hit and unlock tokens when they are seen to be fully vested.”
The partnership between Synapse Network and Chainlink helps all of the projects that will be launched from the Synapse launchpad. It means they can integrate Chainlink services into their products.