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– TIMESTAMPS –
0:00 Intro
1:35 Zeus Capital FUD
5:11 Impact of DeFi on Chainlink
7:08 Need for Offchain Solutions
9:13 DeFi Projects Using Chainlink
13:00 Chainlink Partnerships
15:15 LINK Price Potential
18:58 Conclusion
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⛓️ 🔗 Useful Links 🔗 ⛓️
► Zeus Capital FUD: https://twitter.com/FinancierLord/status/1285148299436216321
► Chainlink God: https://twitter.com/ChainLinkGod
► Crypto Oracle: https://twitter.com/crypto___oracle
► LINK Marine: https://twitter.com/TheLinkMarine1
► Chainlink Feed: https://feeds.chain.link/
► bZx Attack: https://medium.com/@peckshield/bzx-hack-ii-full-disclosure-with-detailed-profit-analysis-8126eecc1360
► Links to Nexo: https://twitter.com/ChainLinkGod/status/1284705242953560064
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💀 Zeus Capital FUD 💀
The Zeus Capital report was an extremely bearish 65 page “research report” that claimed that Chainlink was a Fraud.
What is important to note about this report is that the authors have made it clear they are actively shorting LINK.
It was full of grammatical errors. There were red flags all over including the fact that they tried to piggyback off of another reputable firm and the domain was only 7 months old.
There were some in the community that pointed out that the people behind the report could have been Nexo finance. There is also evidence that they took out a large position on Aave.
💭 Chainlink & DeFi 💭
DeFi is really hot and we have all seen the growth. At the beginning of the year, we were sitting at just over $677 million. At the time of this video we are sitting at over 3.5 billion locked into these protocols.
Something that all of these DeFi protocols need access to is secure and reliable off-chain data.
Sure, other companies can build their own Oracles but these may not be as secure. There have been examples of other DeFi protocols that have been attacked and have had their Oracle networks manipulated.
📈 DeFi Integration 📈
Synthetix uses Chainlink price data feeds in their decentralised exchange. What’s particularly interesting about this is that they are referencing prices of traditional assets. This is in order to price their synthetic synth tokens.
This shows how the Chainlink oracles can be used as a connecting fiber between real world assets.
Aave is a decentralised lending protocol that uses Chainlink in order to secure their oracle network. Aave needs to reference important price and interest rate data from a host of other platforms in the DeFi ecosystem.
You also have the Kyber Protocol that will be using chainlink in order to cross referance prices on their onchain dex. This has previously been quite susceptible to price swings.
These are all Ethereum protocols currently. You have to consider tha this will be expanded out to other ecosystems that are targeting DeFi.
🤝 Chainlink Partnerships 🤝
Recently Chainlink signed with T-Systems. With this partnership, T-systems will look to run a Chainlink node. They will provide chainlink with this offchain data and in return will be rewarded in LINK. This is a process called ‘generalised Mining’.
Chainlink has also partnered with Centreprime. This is a hyperledger based project that has access to the Korean Open banking API. It shows how the traditional financial industry can bolster the Chainlink network.
Another interesting partnership is that of Firmachain where Chainlink oracles will be used for more than just financial data.
📈️ LINK Price Potential 📈
There is immense utility demand from using the token in the protocol. There is demand from both those that are using the data and those who are supplying it. The former are the dApp developers and the latter are the nodes.
You also have to consider additional demand from those who would like to hodl link for investment purposes.
You have a growth in the number of non-zero LINK addresses as well as a decrease of the number of LINK on exchanges. This shows that investors are taking LINK off the exchanges and hodling it. You also have a great deal of interest in Chainlink from the community.
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
#Chainlink #LINK #FUD #Defi #Zeuscapital #oracles #marines #cryptocurrency
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