As Web3 continues to evolve, so does the underlining importance of recognizing the need for diverse oracles. For price feeds and inter-chain functionality, protocols need flexibility, efficiency, and modularity. Let's delve into the current landscape and see how Entangle stands out.
The Restrictive Landscape
Prominent oracle solutions are established, but as DeFi grows, their limitations surface. Some protocols rely on third-party oracles due to their inability to create independent price feeds, incurring financial burdens unless backed by high trade volume.
Cross-chain communication presents another challenge. Certain solutions demand multiple on-chain operations, which raises gas expenses. This is compounded by a lack of customization, with rigid platforms not allowing adjustments to block confirmations. The design of certain platforms also complicates detailed cross-chain operations.
Implications for Protocols
The inflexibility of some oracles can introduce operational inefficiencies, potentially even discouraging Web2 platforms from transitioning to Web3. The intricacies and expenses can also prevent these platforms from building a product with a specific vision, such as Liquid Vaults. If utilizing 3rd party solutions to facilitate our native dApp (Liquid Vaults), it wouldn’t have been technically or economically feasible to do so. Hence the creation of the Entangle Oracle Solution.
Entangle: The New Era of Oracle Solutions
Entangle offers a fresh perspective. It achieves its aims with a single on-chain action, focusing on cost-effectiveness by charging only a small minimum fee. Entangle's design allows entities to deploy their own price feeds autonomously, providing unmatched flexibility in dictating block confirmations and security measures. Moreover, it's primed for complex inter-chain integrations, ensuring protocols operate at peak potential.
Integrating with Entangle
To assist entities keen on leveraging Entangle's capabilities, the integration process is made straightforward via an upcoming front-end application going live next week. With its adaptability, Entangle ensures protocols can customize everything, from security consensus to implementation of price feeds, promising a DeFi future that's both decentralized and economically sound.
Entangle’s Vision for the Future of Web3
In decentralized finance, a one-size-fits-all approach is often unsuitable. The multifaceted needs of DeFi protocols call for adept, customizable solutions.
For derivatives, Entangle guarantees real-time, accurate price feeds, curtailing slippage and enhancing trade efficiency.
In lending and borrowing, it ensures accurate evaluations, preventing unwarranted liquidations and fine-tuning loan values.
Within gaming and gambling, Entangle's oracle solution can seamlessly integrate assets across platforms.
Entangle paves the way for a cohesive, efficient Web3, free from the limitations of conventional oracles.