We are excited to announce that EverRise, a multi-chain security protocol, is integrating Chainlink, the industry-leading decentralized oracle, into multiple aspects of the EverRise ecosystem—starting with the integration of Chainlink Price Feeds for Ethereum, Binance Smart Chain, Polygon, Avalanche, and Fantom mainnets. With this integration, EverRise has access to high-quality, tamper-proof price feeds that supports the following functionalities:
- Calculating cross-chain gas fees
- Providing users real-time prices for conversions throughout the dApp ecosystem
- Updating a full stats page to quickly monitor the RISE token across all blockchains
Our initial integration involves the use of the following Chainlink Price Feeds: ETH, BNB, MATIC, AVAX, and FTM. We chose Chainlink as our go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. Chainlink secures leading DeFi protocols responsible for tens of billions of dollars in smart contract value while maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.
EverRise’s bridging technology, EverBridge, currently connects 5 blockchains: Ethereum, Binance Smart Chain, Polygon, Fantom, and Avalanche. EverBridge is one of the fastest cross-chain bridges with its unique locking and unlocking mechanism and ability to share a single supply across multiple mainnets. With Chainlink, EverRise is now able to offer dynamic pricing for gas fees for EverBridge based on the gas required at the time of transaction by the network.
As EverRise’s token RISE shares a single circulating supply across 5 blockchains, it can be tricky for holders to keep track of the token price. Each chain trades independently and holders have the ability to easily move their tokens from one blockchain to another to take arbitrage opportunities via EverBridge. Users are now able to monitor trading across all EverRise supported blockchains through the EverRise stats page with the Chainlink Price Feed integration.
Chainlink Price Feeds provide EverRise 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 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 like flash loans.
- 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 with a strong track record for reliability, even during high gas prices and extreme network congestion.
- 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 is now directly integrated into the EverRise smart contract, which has a built in statistics contract and provides market cap, holder counts, liquidity pools, strategic buyback reserves, and pricing information from the blockchain. Using a blockchain archive node, these stats can be sampled at any point in time to get historic data only relying on the blockchain with no need for any 3rd party aggregator or tracker.
“To offer a block-speed fast bridge, we need block-speed fast data. Chainlink Price Feeds gives us the timely and accurate data we need to provide DeFi solutions to users across the multichain ecosystem.” – Suresh Maddineni, CEO and Founder of EverRise
In addition, with this Chainlink integration, EverRise is able to expand the functionality of the UX/UI on the EverRise dApps to provide further benefits. For example, RISE holders who are staking their RISE tokens through EverStake are now able to see the fiat values of their tokens within the dApp itself. Since staked tokens are held in a smart contract on the blockchain instead of a DeFi wallet, it is pivotal that we are able to provide users data to see the value of their holdings and earned rewards accurately rather than from 3rd party aggregators.
EverChart, a 24/7 YouTube channel streaming the EverRise chart of all 5 blockchains, also makes use of the Chainlink Price Feeds. Eliminating the need to open multiple tabs, users can see the different price movements and potential arbitrage opportunities of the token. The available data includes each chain’s native token price, holders, the strategic buyback reserve balance, as well as the unified market cap across all chains.
In addition to the Chainlink Price Feed, EverRise will also be incorporating Chainlink Keepers and Chainlink’s CCIP (Cross-Chain Interoperability Protocol) when it releases later this year. Both Chainlink Keepers and CCIP will be a key part of the EverRise protocol as it expands to more blockchains.
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.
EverRise is a blockchain technology company focused on increasing accessibility to decentralized finance by bringing security solutions to the space. Through an innovative ecosystem of decentralized applications, EverRise provides investors and developers the tools to access the widest possible market with the maximum level of security. They are working towards the mass adoption of safety protocols across Ethereum, Binance Smart Chain, Polygon, Avalanche and Fantom networks and currently offer 5 security dApps: EverBridge, EverOwn, EverMigrate, EverStake and EverSwap, with more on the way.