Moon Rabbit Metachain integrates Chainlink oracles and price-feeds
Moon Rabbit continues to multiply its interoperability and position as a cross-chain communication hub with Chainlink oracle and price feed integration which will allow its Metachain to communicate with the real world.
Allowing any smart contract to communicate, interact, and react to real world events and visa-versa has been a difficult task. However, Chainlink has created blockchain middleware which does just that. We are already able to connect much of the current blockchain infrastructure but our reach has grown. Now we are able to connect anything which exists within the Moon Rabbit ecosystem to pre-existing infrastructure and data of the outside world. The translators of data developed by Chainlink have become known as “Oracles”.
We’re sure you are thinking, “What makes these ‘Oracles’ safe and reliable?” This is an obvious question because using centralized oracles is not only unsafe, but also goes against the core of Decentralized Finance. Chainlink aggressively tackles this issue through the use of “oracle reputation frameworks.” These allow users to choose parameters they deem important and view the accuracy and reliability of each oracle network and node operator. In addition to being saved on an immutable public blockchain ledger, oracle service providers can leverage their real world business to provide additional security and reliability. Chainlink oracles are currently used by reputable enterprises like Google, Oracle, and SWIFT.
An appropriate question to ask at this point would be, “What can’t Moon Rabbit do with these abilities?” Using these Substrate-based technologies the Moon Rabbit Metachain can provide pluggable consensus and forkless upgrades for any data infrastructure on-chain or not. Optimized for decentralised finance, Moon Rabbit can now take real world data and turn it into a safe and reliable crypto narrative.
At first, Moon Rabbit will leverage Chainlink’s decentralised pricing feeds to provide infrastructure for market prediction protocols that are due to launch on top of Moon Rabbit Metachain in Q1 2022. The first pairs to go live in these prediction protocols will be: ETH / USD, BTC / USD, LINK / USD, DAI / USD. This aggregator contract can be used by other contracts or any lending protocol deployed on Moon Rabbit.
Later on, the DeFi 2.0 vertical being built on Moon Rabbit will also incorporate Chainlink’s technology for the smooth day-to-day functioning of the DeFi suite of Moon Rabbit, including lending tools, stablecoins and decentralised swaps.
Are you a developer building on Moon Rabbit? Here are the asset feeds currently available on Moon Rabbit Metachain! You can already start referencing these feeds to obtain accurate asset prices!
|ETH / USD||0x91C5a842C282EaaD5D0b536512E61A824128e637|
|BTC / USD||0xC6c33F49f3298f19c233cf4D146B71579F6e3315|
|LINK / USD||0xf840B8fF6f64D308A2c0457cCb1733e89B78fcEc|
|USDT / USD||0xFd4A8b61B100f31751DF62294B0A83eA6Fc8F574|
|DAI / USD||0xDF8330B548Aa63a2AAEB7C8f6a8bfC00ab2963aE|
|DAI / ETH||0x2153f61062545c06855EB6Cd93E37dc465b0F75F|
Moving on to the Bunnyverse, Moon Rabbit’s Metaverse, Chainlink’s oracle integration and Verifiable Random Function (VRF) will help create more engaging and unpredictable Bunnyverse experiences. This adds the ability to take data from the real world and automatically generate in-metaverse NFT drops and create dynamic NFTs whose characteristics and value can change with time, weather, or any real world data verified by Chainlink oracles.
Chainlink’s VRF offers a tamper-proof and publicly auditable form of randomness. This generates both a random number and cryptographic proof off-chain, then delivers both on-chain where the cryptographic proof is verified on-chain prior to the acceptance of the random number by the consuming application. Using this mechanism, we can assure the fairness of any random outcome.
For additional guidance on building on Moon Rabbit’s Metachain or Metaverse, refer to Moon Rabbit Library: https://lib.moonrabbit.com/. Our development team is also available on Telegram to provide technical support and integration assistance.