Razor Network’s Price Feed Oracle to Power Vortex DeFi’s Cross-Chain Swap and DEX Products
Razor Network, the creator of next-gen oracle systems for the DeFi market, is now partnered with Vortex DeFi — a cross-chain DeFi solutions platform to further bolster its DeFi offering by providing reliable and tamperproof price feeds.
An innovative initiative, the Vortex DeFi ecosystem bridges the gap between different scattered DeFi solutions on multiple blockchains. The project offers a single, blockchain agnostic window for crypto users to manage various digital assets efficiently.
The rising interest in Decentralized Finance has given birth to many crypto projects offering various DeFi services. However, in the absence of universal standards, these projects adopt different underlying blockchain protocols and lack uniform tokenomics. In the present state, crypto investors find their attention divided across multiple platforms as they try to discover the best platform that could offer better returns.
The DeFi-as-a-Service (DaaS) model adopted by the Vortex Ecosystem offers a convenient solution to the problem by enabling users to manage all their DeFi needs from a single interface. It acts as an investment management tool where users can interact with some of the best DeFi projects without switching between platforms or worrying about their underlying protocols.
Starting with Yield Farming, Vortex offers a whole suite of DeFi tools, including V-SWAP P2P crypto-asset swap, V-Insure crypto asset insurance, V-NFTs for NFT asset management and V-Pay fiat ramp for buying and selling cryptocurrencies. The Vortex ecosystem currently supports DeFi solutions based on Ethereum, Polkadot, Binance Chain and works with Yearn Finance Protocol to facilitate yield farming across multiple lending platforms.
Integration
The latest partnership with Razor Network will enable Vortex DeFi to integrate a secure and reliable real-world price feed oracle to its V-SWAP smart contracts. By doing so, Vortex will be able to assure accurate prices for P2P crypto-asset swaps on the V-SWAP platform.
Announcing the partnership, the CEO of Vortex DeFi, Rahul Singh said,
“We are excited to partner with Razor Network, one of the most promising decentralized oracle networks for the DeFi space. Collaboration with Razor Network will boost the critical component of V-SWAP. With this partnership, Vortex users in the future will get exposure to information provided by Razor’s secure and reliable oracle services.”
Razor Network has already proven the reliability of its oracle network. It offers the highest standards of security in a permissionless setting, enabled by complete decentralization. Designed for speed and security, the oracles utilize a proof-of-stake consensus algorithm with pseudorandom validators and maximum game-theoretical security to shield them from any manipulation. The efficient use of decentralization combined with fair, widespread distribution of RAZOR tokens necessary for staking by data providers eliminates single points of failure. It prevents server downtime, data hacks, bribe attacks, takeover attacks, and censorship issues that are quite prevalent in few oracles.
Appreciating Vortex DeFi’s effort and welcoming the breakthrough partnership in the DeFi segment, the CEO of Razor Oracle Network, Hrishikesh Huilgolakar, said,
“We understand the importance of secure and reliable oracles in DeFi space, which makes us strive to offer the best to our partners like Vortex DeFi, who are working on shaping the future of DeFi. We both share a common goal of simplifying DeFi for all so that everyone can get the maximum benefit out of it. By using our oracle, Vortex will be able to provide quality service to their users, and we are happy to be a part of their journey.”
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