Flux Protocol
Why is it so cool
First of all, just look at those backers
This article https://www.coindesk.com/business/2021/05/20/flux-protocol-raises-103m-seed-round-to-build-defi-infrastructure-on-near/ tells us that Flux raised 10.3 millions in seed round. It was led by Distributed Global and included Coinbase Ventures, CoinFund, Uncorrelated Ventures, Figment Capital and others.
Flux Protocol is a scalable and decentralized protocol enabling users to use on-chain data for any asset, commodity, or event. Developers can leverage this open-source tool to build markets from the ground up or integrate into existing financial products, drastically reducing the cost and time to incorporate blockchain technology. The protocol’s potential to power an infinite range of verticals ranging from synthetic assets and derivatives to insurance and prediction markets stands to unlock limitless possibilities for DeFi.
“The credibility of many oracle DeFi projects depends on their reputation. Flux’s model adds some economic guarantees to the mix. Validators stake tokens as a form of collateral. If their resolution data is accurate, the tokens stay put. But inaccurate reporting could lead to arbitration, and validators found in the wrong could see their tokens slashed.”
As in comparison to other protocols we can check this infographics:
Here we can see that Chainlink is only have statistical measure at dispute mechanism while Flux protocol depends on statistical measure, staking and voting. That makes it more stable. Also Flux is an Oracle aggregator. So this makes Flux a way more developed technology. Plus it’s well secured by validators. It’s for sure gonna attract a real-life business to it.
It has some great features:
Low transaction fees
Fast and secure data resolutions
Resolutions backed by economic garauntees
We see that Near ecosystem is growing fast. We are waiting Flux protocol to have great usage! There is still Flux ambassadors program ongoing. You can check information here: https://www.fluxprotocol.org/blog/announcing-the-flux-protocol-foreteller-event
