DEX platform WasabiX to utilize Bluzelle’s decentralized oracle for on-chain DeFi activity
Bluzelle, a decentralized data network, today announced its latest partnership with WasabiX, a cross-chain yield-backed synthetic asset & AMM DEX platform. Bluzelle’s comprehensive bundle of data storage and oracle solutions provides ecosystem partners with a one-stop solution for their data needs.
WasabiX + Bluzelle Integration
The next generation of decentralized financial primitives will need data in order to provide better security and increased protection to the users. Especially with the amount of activity on AMM-based DEX platforms, accurate data feeds hold paramount importance.
Integration of Bluezelle into WasabiX will see the utilization of its decentralized data storage solutions and oracle solutions. Bluzelle’s oracles are backed by its decentralized database that will simplify indexing pricing data. This is one of the major use-cases that drives the increased utility of its native BLZ token.
WasabiX will utilize Bluzelle’s decentralized oracle for on-chain activity involving minting, liquidation, realistic price data in the process of borrowing and lending; thus reinforcing data accuracy on its platform. Bluzelle’s price feeds will further extend support to WasabiX’s synthetic tokens.
Bluzelle’s security infrastructure, tamper-proof data solutions, and greater scalability are some of the major aspects that create strong resilience in times of malicious data threats or data corruption during flash loan attacks.
WasabiX is a community-governed project providing cross-chain yield-backed synthetic assets and an AMM-DEX platform. It operates on two chains including Ethereum and Binance Smart Chain. As a fully governed community project, the major changes to the protocol are backed by community votes.