PancakeSwap is a crypto exchange with a simple UI and low transaction costs. It recently added Chainlink Data Streams and Automation on Arbitrum. This collaborative partnership uses Chainlink’s strong technologies to improve PancakeSwap’s prediction markets’ accuracy and impartiality.
.@PancakeSwap has integrated #Chainlink Data Streams and Automation on @arbitrum to power its prediction markets.
By using the industry-standard Data Streams, PancakeSwap is accessing on-demand, low-latency price data used at the start and end of each prediction round.… pic.twitter.com/pSGeCcXQcy
— Chainlink (@chainlink) January 24, 2024
PancakeSwap Adds NFT Collectibles and Prediction Markets
Chainlink Data Streams in PancakeSwap give real-time price data for forecast round start and end. Fast-paced prediction markets require accurate and timely information for fair and transparent results. PancakeSwap is popular for its low-cost asset swaps and token staking rewards in addition to its decentralized exchange function. The platform now offers NFT collectibles and prediction markets to meet the needs of its diverse user base.
PancakeSwap recognized prediction markets needed a reliable oracle. This oracle would quickly provide market data with a decentralized and transparent design. To ensure market fairness, the oracle must respond quickly and be supported by a neutral, decentralized transaction system. After extensive investigation and analysis, PancakeSwap chose Chainlink Data Streams as its Oracle solution.
Chainlink Data Streams help PancakeSwap. First, it enables price resolution in fractions of a second, giving prediction market participants accurate and timely information. It also prevents prediction market manipulation by limiting frontrunning. Chainlink Automation also allows decentralized blockchain processes, improving the system’s trustworthiness and tamper-resistance. PancakeSwap’s reliable and secure oracle solution comes from Chainlink’s infrastructure.
This integration aims to establish a fast, reliable prediction market that is fair for all users. By offering accurate and current data, PancakeSwap hopes to create an efficient, fair, and transparent prediction market.
PancakeSwap Allocates 3% of Prediction Round Funds to Treasury
PancakeSwap’s Prediction function on Arbitrum is a major expansion after the success of its Swap, yield farming, and eternal choices. PancakeSwap’s expansion shows its commitment to offering a variety of features to suit consumers’ preferences and improve the site.
PancakeSwap allocates 3% of each round’s funds to the treasury. The platform’s ecosystem will benefit from the repurchase and burn of some of these fees. The treasury will receive the remaining funds for marketing and development.
Chainlink Data Streams and Arbitrum Automation will boost PancakeSwap’s prediction markets. This innovation advances the decentralized exchange’s innovative and user-focused solutions. It also enhances its position in the ever-changing blockchain landscape.
