Strengthening the MetalSwap-Chainlink Connection

⚙ Tech
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Hi everyone!

As an active member of the MetalSwap community, I wanted to take a moment to highlight the powerful synergy between our platform and one of the blockchain industry’s most significant players - Chainlink.

As many of you know, Chainlink is a decentralized oracle network that enables Smart Contracts to securely access off-chain data feeds, web APIs, and traditional bank payments.

MetalSwap has already demonstrated its technological prowess by seamlessly integrating with Chainlink’s advanced solutions: this enhances MetalSwap’s functionality and amplifies the value it brings to the DeFi space.

Given the clear synergies between the two platforms, I believe there is significant potential for further collaboration. Here are a few ideas to consider:

- Co-authored articles: We could work with the Chainlink team to produce in-depth articles exploring the technical aspects of our integration and its implications for the broader DeFi ecosystem. It will show as examples the applications of Chainlink’s services on the MetalSwap dApp.

- Joint partnerships: MetalSwap and Chainlink could jointly pursue partnerships, together and/or with other leading DeFi protocols to create more comprehensive, interoperable solutions.

- Coordinated social media activities: By aligning MetalSwap’s official Twitter and other social media activities, we can amplify our shared message and attract more attention to the powerful combination of MetalSwap and Chainlink.

MetalSwap is already moving towards practical implementation of these Chainlink integrations, so I’m pretty sure about upcoming developments (btw the Recall Pools are now deployed on BNB Chain and Ethereum) and potential news may come out from the end of the current Testnet phase.

I believe that by working more closely together, MetalSwap and Chainlink can enhance each other’s platforms, plus making significant strides in advancing the entire DeFi space with great applications of CCIP (Interchain Protocol) and Automation services created by MetalSwap’s Team.

I’d like to start a conversation about how we can deepen this already promising relationship and would love to hear your thoughts and ideas. Furthermore, if you have any other collaborative ideas or potential partnerships in mind that could further enrich the engagement in the DeFi space, please share them. Let’s come together to explore new opportunities and build stronger connections with important entities in the DeFi ecosystem.

Looking forward to hearing your thoughts and ideas!

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Yeah, creating a strong connection with a leading player in the DeFi ecosystem like Chainlink is always a good idea and we should continue pursuing this path.

You were talking about co-authored articles, joint partnerships, and social media activities, and I totally agree.

But I would also like to go a bit further and think about asking for a development grant from the Chainlink team.

They need dApps like MetalSwap that use their technology (like CCIP and Automation), so I think there’s a possibility that they could finance us with some LINK. Also, because I’m pretty sure that using this service has a cost in LINK.

What do you guys think?

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I think both the partnership with Chainlink and the idea of applying for a development grant seem like excellent strategic moves for MetalSwap.

The importance of a joint social media campaign and co-authored articles with Chainlink, which can not only educate our community about new technologies and their applications but also amplify our visibility and strengthen our credibility in the industry, cannot be overstated.

A grant from Chainlink could not only fund further technological developments on MetalSwap, but might also create new incentives for users as was the case with the $OP grant. I also feel this synergy could lead (perhaps even more swiftly) to the creation of new oracles tailored to our needs. These oracles could pave the way for new hedging strategies or liquidity provision, perhaps even aligning with the latest DeFi trends, such as dynamic yield farming.

I think this discussion topic is really interesting and important, and it fully values all the efforts and technological developments that the project has carried forward, even through the toughest times for the sector!

Full steam ahead!!

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I agree that co-authored articles diving into the technical aspects of MetalSwap’s Chainlink integration would be a fantastic resource for the DeFi community, but the potential goes even further…
Let’s delve deeper into the possibility of leveraging Chainlink oracles for dynamic pricing with RWA (Real World Asset) data feeds.

Imagine this: MetalSwap could evolve beyond tokens and become a platform for trading the value of RWA like stocks, commodities, or even real estate.

Here’s how Chainlink oracles would play a crucial role:

Real-time data feeds: Chainlink oracles can securely retrieve and deliver real-time data feeds on the value of these underlying assets. This could include stock prices from exchanges, commodity prices from marketplaces, or even property valuations from accredited sources.

Dynamic pricing: MetalSwap could utilize these RWA data feeds to dynamically adjust the pricing of asset representations on the platform. For instance, the price of a token representing a specific stock would constantly fluctuate based on the live stock price provided by the oracle.

Eliminating token issuance: With RWA data feeds, MetalSwap wouldn’t need to create a dedicated token for each new asset, or incorporate others. Instead, the platform would manage the cash flow associated with the underlying asset directly. This streamlines the process for incorporating new assets and eliminates the complexity of managing individual token economies.

This integration of Chainlink oracles and RWA data feeds has the potential to revolutionize MetalSwap’s capabilities. It could open the door to a whole new wave of DeFi applications, enabling users to trade the value of RWA in a secure and transparent manner.

Even more interesting, from my point of view, would be to evolve the DAO with a multi-chain governance. For this CCIP would be key…

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I think that Chainlink has a solid ecosystem with advanced products and services for the healthy growth of the DeFi ecosystem.

Although it has lost some market dominance in the world of oracles, it has demonstrated its ability to differentiate its offerings with high-tech services.

For this reason, continuing to develop features with Chainlink services will allow Metalswap to further strengthen its relationship, which will give more visibility to this project.

Another interesting feature that would be good to implement is the automatic liquidator that uses Chainlink Automation. This could also be included in the development package to show to Chainlink, as mentioned in a blog post at this link: Exploring Chainlink Automation.

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Hi @Tizswa Tiziano, thank you for your “hands-on leadership”. Really appreciated

I think the token issuance is a big limit of the current MetalSwap foundation and after reading your post above I literally felt off the chair!!

If this is technically achievable, always complying with the high security standard, it would be “r-evolutionary” for MetalSwap. It really opens a new era for the project.

I am not very up to date on this, but I guess there are many other platforms trying to emerge in the arena of trading RWA assets by leveraging Chainlink data feeds. Maybe also Chainlink itself…

If/when you think it’s the right time, it would be very interesting if you can deep dive in this possible evolution, maybe through some blog posts.

Best,
Roberto

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