Oikos Integrates Chainlink Keepers For End-to-End Decentralized Rewards Distributions
We’re excited to announce that Oikos — a crypto-backed mirrored asset protocol — has integrated Chainlink Keepers live on BNB Chain mainnet. By integrating the industry-leading decentralized oracle network, we now have access to a secure and cost-efficient smart contract automation service that can help automate fee period closures, inflationary supply minting, and LP rewards contract recharges. Ultimately this helps achieve end-to-end decentralization for some of Oikos’ processes.
We decided to decentralize Oikos’ protocol functions using Chainlink Keepers because the automation service is operated by the same pool of time-tested, provably reliable node operators that currently help secure tens of billions of dollars in DeFi. Chainlink nodes have a proven history of consistent operation even during record levels of network congestion and extreme volatility. The proven infrastructure of Chainlink helps ensure that every fee periods closure, weekly mint event, and recharge of pools for LPs is executed on time in a trust-minimized manner, giving users additional guarantees that it will function exactly as intended.
Oikos is a BNB Chain-based mirrored asset platform that provides on-chain exposure to external assets. Mirrored assets are backed by Oikos Network Tokens (OKS) and locked into a smart contract as collateral.
These assets track the prices of various assets, allowing crypto-native and unbanked users to trade P2C (peer-to-contract) on Oikos Exchange without liquidity limitations.
Chainlink Keepers is a decentralized service offered purpose-built to manage tasks on behalf of smart contracts. Chainlink Keepers serve as a decentralized, hyper-reliable, and economically incentivized automation bot that wakes up smart contracts when they need to perform critical on-chain functions, which usually take place at regular time intervals (e.g., every day at the same time) or based on external events (e.g., when an asset hits a specific price).
Some of the notable features of Chainlink Keepers include:
- Decentralized Execution — Chainlink Keepers provide reliable, trust-minimized automation with no single point of failure, mitigating risks around manual processes and centralized servers.
- Increased Efficiency — Projects that use Chainlink Keepers are able to reduce time spent on DevOps, minimize operational overhead, and streamline development workflows.
- Enhanced Security — Chainlink Keepers sign on-chain transactions themselves, enabling automated smart contract execution without exposing private keys.
- Reduced Costs — Chainlink Keepers perform efficient off-chain computation for smart contracts, allowing developers to build feature-rich dApps at lower costs.
By integrating Chainlink Keepers, Oikos is making clear its priority is to decentralize the protocol on an end-to-end basis. Chainlink Keepers automate these mission-critical functions in a secure, reliable, and decentralized manner, further decentralizing the protocol and eliminating the need for manual upkeep of the platform’s multiple functions.
“Following our initial integration of Chainlink Price Feeds, it was a no-brainer for Oikos to start utilizing Chainlink Keepers wherever possible in order to reduce the need for third parties to execute some of Oikos’ most important smart contract functions.” — Manuel Corona, CEO & Founder
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.
Oikos is a platform that enables the creation of on-chain mirrored assets that give exposure to external assets by tracking their real-world price.
The system supports any kind of asset, but also more complex products, like futures and options. It creates a market for cryptocurrencies and price-stable assets that can be traded without liquidity limitations and slippage.
The protocol bridges the gap between the worlds of traditional finance and crypto through its decentralized mirrored asset issuance and exchange system. Our mission is to fulfill the largely untapped potential of mirrored assets.
Learn more about Oikos by reading the litepaper, visiting the website, following on Twitter, or joining the Oikos community on Discord and Telegram.