Huobi Wallet, the globally acclaimed noncustodial, multi-currency wallet app from the Huobi Group, has announced the news about a two-part collaboration with leading decentralized oracle platform, Chainlink. The wallet users will enjoy access to the first batch of four price pairs, including BTC/ETH, BTC/USDT, LINK/ETH, and ETH/USDT on the Huobi wallet ecosystem.
One of the world’s top cryptocurrency exchanges @HuobiGlobal is making its exchange data available to smart contracts through the #Chainlink Network. Additionally, @HuobiWallet is currently running a live Chainlink Node.
— Chainlink – Official Channel (@chainlink) July 3, 2020
According to the blog post, Huobi will employ Chainlink’s external adapters’ expertise to make the Huobi exchange API accessible to smart contracts. This will help DApp developers extract price data from one of the most trusted and most liquid crypto exchange institutions in the world, Huobi Global. By leveraging Chainlink tools and services, Huobi will enrich its global community of users with world-class features aimed towards bringing user-friendliness and high-end operability in the core ecosystem.
Will Huang stated , CEO, Huobi Wallet,
With the help of an external adapter for the Huobi Global Exchange API, any Chainlink node will be allowed to employ it while setting up their node to have access to the price data analytics. The newly added feature will open doors for several DeFi projects to access prices from the Huobi Global exchange platform. Developers can use these reliable data figures to curate a wide range of potential solutions like lending, borrowing, derivatives, and many other services. DeFi is in its growing stage and has a market cap of 2 billion USD as per the DeFiMarketCap study. By offering pricing data access on its portal, Huobi Group is striving to take advantage of the fast-developing DeFi domain.
Sergey Nazarov quoted, Co-founder of Chainlink,
The Chainlink Node run will allow Huobi to sign its own price data, which will eventually add-on to its popularity as a trusted exchange and wallet system. Any data coming from the Huobi Node shall be genuine, authentic, and direct from the source making the users enjoy the assurance of services and usage.