We're excited to announce the launch of Alpha Oracle Aggregator, with data from two of the largest data oracles providers, @BandProtocol and @chainlink, to ensure security, scalability, and flexibility.

This launch will prepare #Alpha for the upcoming growth stage!

2/12 Oracle is one of the most important aspects in operating #DeFi protocols.

The rapidly changing and growing DeFi landscape has
increased requirements that DeFi projects have to fulfill and

significantly impacted how #Alpha thinks about and adopts oracle solutions.

3/12 Alpha Oracle Aggregator will enhance security, scalability, and flexibility for #Alpha in a number of ways.

Expand cross-chain in a scalable way
Expand on #Ethereum with more security
Support more assets with more flexibility

4/12 Expand cross-chain in a scalable way

Previously, decentralized applications (dApps) that expand cross-chain might have to integrate with multiple data oracles on multiple blockchains, which is inefficient & capital intensive.

How does Alpha Oracle Aggregator solve this?

5/12 The Alpha Oracle Aggregator will enable #Alpha ecosystem of #DeFi products to

access verified data aggregated from up to three data oracles for a single asset

access data from different oracles for different assets

As a result...

6/12 Once Alpha Oracle Aggregator is integrated with multiple data oracles, #Alpha can take Alpha Oracle Aggregator to deploy on other chains or L2s and continue to work with @BandProtocol and @chainlink seamlessly on the new chain/L2 without needing to set up new infrastructure.

7/12 Expand on #Ethereum with more security

Typically, dApps operating on one chain using one data oracle do not have a backup if the oracle they are working with is temporarily unavailable or suffers from manipulation.

How does Alpha Oracle Aggregator solve this?

8/12 By aggregating data from multiple oracles, Alpha Oracle Aggregator ensures the output price is guaranteed to remain within a predetermined threshold of at least two sources, ensuring a consistent and reliable price feed at all times.

9/12 Support more assets with more flexibility

The growth of crypto space, which leads to many new tokens entering the market, makes it difficult for a data oracle to quickly accommodate dApps’ requests to support more tokens.

How does Alpha Oracle Aggregator solve this?

10/12 Alpha Oracle Aggregator will allow #Alpha to access data for all desired assets from multiple oracle providers simultaneously.

11/12 All in all, Alpha Oracle Aggregator will ensure:

Security
Flexibility
Scalability

12/12 We are only scratching the surface of what is to come. Be ready for the upcoming growth stage at Alpha starting this month.

For more details, please see the blog announcement below. https://blog.alphafinance.io/alpha-finance-launches-alpha-oracle-aggregator-with-data-from-band-protocol-and-chainlink/