Zenlink-bifrost-polkadot is a decentralized finance (DeFi) project built on the Polkadot blockchain. Its aim is to enable cross-chain liquidity and asset transfers. Zenlink helps users unlock liquidity from different blockchain networks, while Bifrost provides multi-chain connectivity and bridges between Polkadot and other blockchains. The project was founded by a team of developers and engineers, with its founding company and year not provided. The name "Zenlink-bifrost-polkadot" combines the names of the different components and networks it operates on.
Zenlink-bifrost-polkadot offers several benefits that set it apart from its direct competitors. One of the key advantages is its interoperability. Zenlink-bifrost-polkadot operates on the Polkadot network, which is a multi-chain framework that facilitates interoperability between various blockchains. This allows Zenlink-bifrost-polkadot to seamlessly connect and interact with other parachains on the Polkadot network, enhancing its overall functionality and flexibility.
Another benefit of Zenlink-bifrost-polkadot is its robust cross-chain liquidity protocol. This protocol enables the seamless transfer of digital assets, such as tokens and cryptocurrencies, across different chains within the Polkadot ecosystem. By ensuring efficient and secure cross-chain transactions, Zenlink-bifrost-polkadot eliminates the need for intermediaries and enhances liquidity for users.
Additionally, Zenlink-bifrost-polkadot offers a decentralized oracle solution. Oracles play a vital role in blockchain applications by providing external data to smart contracts. Zenlink-bifrost-polkadot's oracle system ensures the accuracy and integrity of data, enabling reliable and transparent interactions between smart contracts and the external world.
Compared to its direct competitors, Zenlink-bifrost-polkadot's unique combination of seamless interoperability, cross-chain liquidity, and decentralized oracle solutions positions it as a comprehensive and efficient platform for users within the Polkadot ecosystem. Its ability to connect with other parachains, facilitate cross-chain transactions, and ensure secure data transmission makes it an attractive choice for developers and users in the blockchain space.
Zenlink-Bifrost-Polkadot is a decentralized finance (DeFi) project that utilizes the underlying technology of Polkadot, a multi-chain platform. In the Polkadot ecosystem, Zenlink-Bifrost serves as a cross-chain liquidity protocol.
The key concept behind Zenlink-Bifrost is to enable seamless interoperability between different blockchains within the Polkadot network. It achieves this by acting as a bridge, enabling users to transfer assets between different chains and access liquidity across multiple blockchains.
Zenlink-Bifrost utilizes Polkadot's Substrate framework to create its own parachain, which is a specialized blockchain that operates in parallel with the main Polkadot network. This parachain connects to the Polkadot relay chain, allowing Zenlink-Bifrost to interact with other parachains and share data securely.
The functioning of Zenlink-Bifrost relies on a combination of smart contracts, liquidity pools, and token swaps. Users can lock their assets on one blockchain and mint equivalent tokens on another blockchain, thus maintaining their exposure to the value of the original assets. These tokens can then be used within the Zenlink-Bifrost ecosystem for various DeFi activities such as lending, borrowing, and trading.
Through its integration with Polkadot, Zenlink-Bifrost aims to address the issues of scalability and interoperability that often hinder traditional blockchain networks. By leveraging the capabilities of Polkadot's multi-chain architecture, Zenlink-Bifrost provides users with a seamless and efficient cross-chain DeFi experience.
Overall, Zenlink-Bifrost-Polkadot utilizes the underlying infrastructure of Polkadot to create a cross-chain liquidity protocol, allowing users to transfer assets between different blockchains within the Polkadot network and access decentralized finance services with ease.
When it comes to fetching trade data from Zenlink-bifrost-polkadot, DIA follows a comprehensive process that ensures accuracy and reliability. Let's take a look at how DIA scrapes trade data from different types of exchanges.
For centralized exchanges like Coinbase, Kraken, and Binance, DIA utilizes scrapers that directly collect trades from the exchange databases. This is done using Rest APIs or WebSocket APIs. The data collection frequency varies depending on the exchange, typically ranging from 1 to 7 seconds. By fetching the trade data directly from the exchange, DIA ensures high precision and real-time information.
On the other hand, for decentralized exchanges (DEXs), DIA adopts a different approach. Instead of relying on exchange databases, DIA collects data from various blockchains by subscribing to swap events in liquidity pools. This allows DIA to retrieve trading data directly from the blockchain itself, ensuring enhanced accuracy and transparency. Examples of decentralized exchange sources include popular platforms such as Uniswap, curve.finance, and PancakeSwap.
When it comes to NFT marketplaces, DIA captures live trading data by integrating with the smart contracts of these marketplaces. The retrieval period for NFT data typically ranges from 20 seconds to 1 minute, enabling DIA to provide real-time and accurate information about NFT transactions. Notable NFT integrated exchange sources include Blur, X2Y2, OpenSea, and TofuNFT.
In summary, DIA employs tailored strategies to fetch trade data from different types of exchanges. For centralized exchanges, direct scraping from exchange databases is utilized, while for decentralized exchanges and NFT marketplaces, data is sourced directly from the blockchain and integrated smart contracts respectively. This comprehensive data management strategy positions DIA to provide highly accurate and customizable price feeds for blockchain applications.
DIA's process for building price feed oracles with Zenlink-bifrost-polkadot trade data differs depending on whether we are referring to DeFi or NFT exchanges.
For DeFi exchanges, DIA follows a two-step process. First, they clean and detect outliers in the trade data to ensure accuracy. This involves removing trades that deviate significantly from the current market price. They use an Interquartile Range (IR) filter, which identifies and filters out trades outside an acceptable range relative to the interquartile range. This step is crucial, especially in low-volume and illiquid markets.
The second step involves applying price determination methodologies to calculate the final price from the remaining data points. DIA uses trade-based filters, such as the Volume Weighted Average Price (VWAP) and Moving Average with Interquartile Range Filter (MAIR). These filters consider factors like trade volumes and timestamps to compute a single USD price value for each asset on each exchange and also for all exchanges combined. Multiple filters are available to meet the specific data needs of different use cases.
As for NFT exchanges, DIA's process involves cleansing the on-chain trade data and applying pricing methodologies. Cleansing filters are used to exclude outliers and manipulation techniques. The first pricing methodology is the Floor Price, which provides the lowest sale price of an NFT collection recorded on the blockchain within a given time window. However, this methodology is prone to manipulation by malicious actors.
To address this, DIA offers advanced methodologies such as the Moving Average of Floor Price. This approach calculates the moving average of a collection's floor price and allows for customizable parameters like the length of the average and the size of the floor window. Additionally, DIA applies an interquartile range outlier detection filter to identify and filter out malicious behavior like wash trading.
DIA also welcomes discussions on custom filters and methodologies to suit specific use cases beyond the implemented techniques.
Instead of distributing pre-calculated data feeds, DIA covers the whole data journey from individual trade collection, and computation to the last mile of the feed delivery.