We are excited to announce that Autonio will be integrating the industry-leading decentralized oracle network Chainlink into our platform to service a multitude of DeFi liquidity product offerings. Chainlink’s time-tested and decentralized Price Feeds will power the NIOX Suite, an ecosystem of trading tools and infrastructure which includes the NIOX Maker (an easy-to-set-up Market Making Module), an AI Agent Network (machine learning algorithms that enhance trading performance), the NIOX Swarm (a liquidity mining marketplace), and our SmartDEX (a peer-to-peer decentralized exchange using the 0x protocol).
We selected Chainlink to underpin the oracle functions for our suite of DeFi products given its proven track record of providing secure and reliable oracle solutions to other leading DeFi projects. Chainlink already secures over $10B in on-chain value, offering both high-quality data and decentralized oracle infrastructure to ensure DeFi dApps like Autonio have accurate data that is resistant to downtime or tampering, particularly resistant to data manipulation via flash loans.
Leveraging Chainlink to Boost Platform Functionality
In order to secure the NIOX ecosystem, we required a highly secure and tamper-resistant oracle solution to ensure user trades always execute at the proper market wide price. With Chainlink Price Feeds as our oracle solution, the entire Autonio ecosystem will have access to financial market data that is redundantly verified and reflects global, volume-adjusted market prices.
This pricing data will be used to enhance the NIOX Maker, a low-cost market-making tool that allows users to make markets with the click of a button and seamlessly switch between tokens in a liquidity pool without needing to post buy or sell orders. This integration of Chainlink will ensure any users leveraging the NIOX Maker are fully protected by accurate and tamper-proof price data, preventing trades based on stale or manipulated data on any one or small set of exchanges. Additionally, market actions can be automated through the use of Chainlink Keepers, transaction automation bots which reference on-chain price reference contracts to perform market actions on the behalf of users.
Chainlink Price Feeds will also be used in our 0x protocol-based decentralized exchange (DEX) known as smartDEX which is designed for secure peer-to-peer trading. smartDEX's liquidity is boosted by our NIOX Swarm Liquidity Mining Protocol, which similarly requires secure price oracles to distribute rewards to users. With Chainlink Price Feeds, NIOX Swarm markets can calculate the total value of staked assets in a multi-asset pool, and distribute rewards proportionally to users.
Additionally, the Autonio Foundation plans to use Chainlink oracles to power a new type of AMM known as an Intelligent Market Maker (IMM), which utilizes off-chain AI agents to enable dynamic changes in the pricing curves of markets. With Chainlink oracles, data generated from off-chain AI agents can be brought on-chain in a secure manner, enabling its usage by IMMs and external protocols such as the SingularityDAO. By continuously monitoring market conditions off-chain and using machine-learning algorithms to generate pricing curves, Chainlink-enabled IMMs provide a higher capital efficiency while ensuring user funds are protected from adverse pricing.
IMMs provide a solution for on-chain market-making that enables an entirely new class of crowdsourced liquidity that supports small pricing variations, provides stop losses, prevents arbitrageur exploits, and most importantly, ensures buffers to minimize impermanent loss. With Chainlink oracles, IMM liquidity pools could operate across a number of different blockchains such as Polygon, Elrond, Conflux, Binance Smart Chain, and potentially more in the future.
Why We Chose Chainlink’s Tamper-Proof Oracles
Chainlink is a decentralized network of oracles that enables smart contracts to securely interact with real-world data and services existing outside of blockchain networks. With Chainlink, the traditional systems, like data providers, IoT networks, websites, and enterprises, that currently power modern economies can connect to the emerging blockchain industry to generate more security, efficiency, and transparency in business and social processes.
We needed an oracle solution that was flexible enough to underpin our entire platform of offerings with data that maintains extreme degrees of security, reliability, and precision. After reviewing various solutions around the market, we chose Chainlink for a few very important reasons:
- Secure Nodes — Chainlink’s on-chain data feeds are secured by decentralized oracle networks made up of numerous independent, security reviewed node operators run by professional DevOps teams with a reputation for strong uptime, even during record levels of network congestion.
- High-Quality Data — Chainlink Price Feeds source data from high-quality data aggregators like BraveNewCoin and Kaiko, resulting in price data that is aggregated from hundreds of exchanges, and weighted by volume, making it highly resistant to API downtime and data manipulation attacks.
- Decentralized Infrastructure — Chainlink Price Feeds decentralized at the data source and oracle node levels, ensuring the end user receives highly reliable and tamper-proof data on-chain.
“Integrating Chainlink’s decentralized oracle infrastructure was an obvious choice, as we needed an extremely secure and reliable oracle solution backed by high-quality data to underpin our entire platform of offerings. We look forward to creating an AI agent oracle that aims to be the gold standard for intelligent and sustainable on-chain market making and are excited to explore more Chainlink products in the future,” said Ali Raheman, Founder and Lead Operations.
“We look forward to empowering Autonio in its quest to bring about more capital efficiency within DeFi by providing them with secure and reliable oracles that help enable real-time decision making based on the most up-to-date market conditions,” said Daniel Kochis, Head of Chainlink Business Development.
Chainlink is the most widely used and secure way to power universally connected smart contracts. With Chainlink, developers can connect any blockchain with high-quality data sources from other blockchains as well as real-world data. Managed by a global, decentralized community of hundreds of thousands of people, Chainlink is introducing a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance and gaming ecosystems, among others.
Chainlink is trusted by hundreds of organizations to deliver definitive truth via secure, reliable data feeds. To learn more, visit chain.link, subscribe to the Chainlink newsletter, and follow @chainlink on Twitter.
Autonio Foundation is a decentralized autonomous organization built around developing accessible, easy to use and affordable trading tools and services for the DeFi ecosystem.
Autonio is building a prosperous community around algorithmic trading by democratizing access to intelligent automated trading tools and infrastructure. These tools make it easier for crypto traders to conduct trading analysis, deploy trading algorithms, exchange crypto currencies, sell their strategies and pool funds for trading purposes, all with profitability, security and ease.