Huobi Wallet is excited to announce that it will be undertaking a two-part integration with Chainlink, the market-leading decentralized oracle network. Huobi will leverage Chainlink’s external adapters to make the Huobi exchange API available to smart contracts, allowing developers to access price data from Huobi Global, one of the largest and most liquid cryptocurrency exchanges in the world. The first batch of price pairs will include the highly requested BTC/ETH, BTC/USDT, ETH/USDT, and LINK/ETH. Once rolled out, we aim to make more available soon thereafter.
In addition to offering price feeds, Huobi is now the first cryptocurrency exchange to run a Chainlink node. Huobi Wallet already has extensive experience operating PoS nodes, securing a total of over 10 million dollars in digital assets for projects like ATOM, Ontology, and LOOM. Huobi will bring its experience running secure infrastructure to the Chainlink Network and further decentralize the number of nodes available for oracle data services.
Oracles are quickly becoming one of the most important pieces of infrastructure in moving the blockchain space beyond tokens. Chainlink has established itself as the clear market leader in oracles, providing smart contracts with universal access to real-world data, off-chain events, and traditional payment infrastructure. Chainlink is the most used oracle in the Ethereum DeFi ecosystem, it’s integrated across many other blockchain environments including Tezos, Polkadot, Cosmos, and BSN, and it works with large enterprises such as Google, Oracle, and SWIFT. As such, Huobi Wallet is determined to support and help provision Chainlink network with the data and node infrastructure necessary to provide tamper-proof inputs and outputs to smart contracts.
Our multifaceted Chainlink integration will bring several advantages to the DeFi space.
By creating an external adapter for the Huobi Global Exchange API, any Chainlink node will be able to leverage it in their node setup to provide access to our price data. This allows a wider range of DeFi projects to access prices from a world-leading cryptocurrency exchange. This data can be relied on to build more innovative products for lending, borrowing, derivatives, and more. Offering price data to DeFi projects is another big step in Huobi Group’s mission to support DeFi ecosystems. DeFi is a fast growing space in cryptocurrency, with a total market cap of 2 billion USD according to DeFiMarketCap.
Additionally, by running a Chainlink Node, Huobi will be able to sign its own price data, bringing additional guarantees to its integrity. Users can be assured that if the Huobi’s Exchange data came from the Huobi Node that it is indeed authentic and direct from the source.
CEO of Huobi Wallet, Will Huang noted that “DeFi offers a unique value proposition of providing financial products that are transparent, open, and programmable. We are very excited to accelerate our involvement in this emerging trend by providing Chainlink users access to Huobi Global exchange data, as well as running our own Chainlink Node. We want to accelerate the growth of DeFi, and we feel that supporting Chainlink’s critical oracle services are key to enabling DeFi to take the next step in its evolution.”
"We're excited to help Huobi make it's exchange data available to the DeFi market, both by onboarding them as a Chainlink node operator and using Chainlink external adapters to make the Huobi exchange API accessible to smart contracts." --Sergey Nazarov, Co-founder of Chainlink
Consisting of numerous upstream and downstream enterprises, Huobi Group is a leading global blockchain company. Established by Leon Li in 2013, the company's Huobi Global exchange accumulative turnover exceeds $3 trillion USD. Huobi proudly provides safe, secure, and convenient cryptocurrency trading and asset management services to millions of users in 170+ countries.
About Huobi Wallet
Huobi Wallet is a noncustodial, multi-currency wallet app from Huobi. With over 19 currencies and 3 kinds of tokens supported, Huobi Wallet app helps users to securely buy, store, earn and swap BTC and other currencies on the go. Learn more at www.huobiwallet.com/en
If you’re a developer and want to connect your smart contract to off-chain data and systems, visit the developer documentation and join the technical discussion on Discord. If you want to schedule a call to discuss the integration more in-depth, reach out here.
Chainlink is an open-source blockchain abstraction layer for building and running decentralized oracle networks that give your smart contract access to secure and reliable data inputs and outputs. It provides oracles to leading DeFi applications like Synthetix, Aave, and Kyber Network, numerous blockchains such as Ethereum, Polkadot, and Tezos, and large enterprises including Google, Oracle, and SWIFT.