Nord Finance Integrates Chainlink Price Feeds Into Its Multi-Chain Advisory Product

We’re excited to announce that Nord Finance — an advanced decentralized financial ecosystem — has integrated Chainlink Price Feeds on Polygon and Ethereum mainnets. By integrating the industry-leading decentralized oracle network, Nord Finance has access to high-quality, tamper-proof price feeds needed to showcase globally accurate fair-market asset prices in our NORD Advisory products.

Our initial integration involves the use of the following Chainlink Price Feeds priced against USD:

Polygon:

USDT, USDC, DAI, BTC, ETH, AAVE, UNI, MATIC, and LINK.

ETH:

USDT, USDC, DAI, BTC, ETH, AAVE, UNI, MATIC, and CRV.

We chose Chainlink as our go-to 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.

Nord Finance is an advanced decentralized financial ecosystem designed to simplify DeFi investing by bringing key features of traditional finance to the DeFi ecosystem. NORD Finance is built on Ethereum and is now accessible through Polygon. NORD Finance’s multi-chain interoperability powers a plethora of financial products, including savings, advisory, loans against assets, investment/funds management, and swaps. Nord Finance aims to create safe, simple, and intuitive DeFi products for users.

In order to help secure asset prices on our Nord Advisory platform, 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 a blockchain oracle network to fetch aggregated price data off-chain and deliver it on-chain to be consumed by our application.

After reviewing various oracle solutions, we integrated 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’s aggregated from hundreds of exchanges, weighted by volume, and cleaned of outliers and wash trading. Chainlink’s data aggregation model generates more precise global market prices that are inherently resistant to inaccuracies or manipulation of any single or small set of exchanges.
• Secure Node Operators — Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises. Chainlink nodes have a strong track record of reliability, even during high gas prices and infrastructure outages.
• 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 oracle network.
• Reputation System — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical and real-time performance of node operators and oracle networks.

“Price oracles play an important role in enabling Nord Finance’s product ecosystem to effectively work with our current product portfolio. We are glad to have integrated Chainlink’s secure and reliable market data to help Nord Finance achieve its goal of becoming a leading multi-chain DeFi ecosystem.”

-Amarnath Reddy, Co-founder, and CEO of Nord Finance

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 read the documentation at docs.chain.link.

About Nord Finance

Nord Finance is an advanced decentralized financial ecosystem designed to simplify DeFi investing by bringing key features of traditional finance to the DeFi ecosystem. NORD Finance is built on Ethereum Network. Multichain interoperability of NORD Finance powers a plethora of financial products, which constitute savings, advisory, loans against assets, investment/funds management, and swaps.