BOO Price Feed — Chainlink x Scream Announcement and Details
Thanks in part to recent BOO governance proposals which created Ethereum Mainnet and CEX liquidity, SpookySwap now has sufficient cross-chain liquidity to be supported by ChainLink enabling a BOO Data Feed! We appreciate all BOO and xBOO holders who actively participate in SpookySwap governance for pushing forward proposals that resulted in this price feed for BOO!
Data Feeds are the quickest way for pushing forward governance proposals, like the governance vote that resulted in enabling this price feed for BOO. For example, one use for data feeds is to enable smart contracts to retrieve the latest pricing data of an asset in a single call. The latest pricing data is then aggregated from many data sources and published on-chain. Often, smart contracts need to act upon prices of assets in real-time, which is especially true in DeFi. Lending and borrowing platforms like SCREAM use Data Feeds to ensure the total value of the investor’s collateral.
Now that BOO’s Data Feed is available across all of DeFi, we’re excited to see protocols utilize the feed to bring more investing opportunities to SpookySwap’s governance token, such as the first protocol to incorporate the data feed: SCREAM!
SpookySwap x SCREAM
The BOO Data Feed has enabled scream.sh to launch lending and borrowing for the BOO token!
Borrowing and lending on SCREAM enables more options for SpookySwap investors to earn yield, either through staking BOO crypto as collateral for loans or through lending BOO to other Fantom investors to fund their loan.
Chainlink Price Feeds not only strengthen the accuracy and robustness of SCREAM’s lending protocol, but has a proven track record of delivering reliable price updates on-chain despite unexpected externalities like flash crash outliers, exchange downtime, and data manipulation attacks.
SCREAM is one of the largest peer-to-peer lending platforms, native to Fantom. SCREAM provides peer-to-peer lending solutions that are fully decentralized, transparent and non-custodial. SCREAM aims to build high-velocity markets for more traditional crypto-asset lending services, but with the goal of improving overall capital-efficiency across a wider range of Fantom-based assets. Investors are able to lend supported assets on money markets, and use their capital as collateral to borrow supported assets.
SCREAM presently supports 17 major markets, including the recently added BOO, allowing each asset to be used as collateral across its range of Money Markets. As the Fantom network grows, so does the importance of SCREAM’s robust lending and borrowing solutions.
Chainlink is a decentralized blockchain oracle network built on Ethereum, and facilitates the transfer of tamper-proof data from off-chain sources to on-chain smart contracts. This enables verification for whether parameters of a smart contract are met in a manner independent from any of the contract’s stakeholders by connecting the contract directly to real-world data, events, payments, and other inputs. Chainlink enables smart contracts on any blockchain to leverage extensive off-chain resources, such as tamper-proof price data, verifiable randomness, keeper functions, external APIs, and much more.
Chainlink is trusted by hundreds of organizations, from global enterprises to projects at the forefront of the blockchain economy, to deliver definitive truth via secure, reliable oracle networks. To learn more about Chainlink, visit chain.link or subscribe to the Chainlink newsletter. To understand the full vision of the Chainlink Network, read the Chainlink 2.0 whitepaper.
SpookySwap is an automated market-making (AMM) decentralized exchange (DEX) for the Fantom Opera network. SpookySwap actively invests in building a strong foundation by using the BOO token for governance, rewards on diverse farms, and to provide developer grants encouraging a healthy ecosystem of other Fantom projects. As of its launch in April 2021, SpookySwap has earned endorsement and support from the Fantom Foundation, developed a bridge between Fantom and several DeFi networks, and has been fully audited by CertiK.
Once again, we appreciate all BOO and xBOO holders who actively participate in SpookySwap governance for enabling BOO to have its Chainlink price feed. Protocols who wish to collaborate with Spooky on implementing the new BOO price feed can reach out the SpookySwap team through our Collaboration Form located in the footer of the SpookySwap webpage.