July 22, 2022 - 3 min read
SupraOracles is excited to partner with Qilin Protocol, a decentralized derivatives asset trading platform. It’s a unique trading concept that provides a permissionless decentralized environment where players can long trade any type of crypto assets.
Qilin Protocol is focused on enriching the crypto trading experience through an innovative risk control mechanism. The protocol unifies network liquidity under a single platform providing a lower entry barrier for every asset holder to access sufficient market liquidity. Qilin Protocol’s key feature uses synthetic assets and provides traders with higher capital efficiency through compostability.
SupraOracles’ partnership enables Qilin Protocol to access multiple liquidity sources across a number of DEXs and use decentralized oracles to enrich and support the perpetual trading market. Thus, by supplementing altcoin price feeds on the Qilin Protocol, it expands the protocol’s DeFi derivatives offering. In addition, Oracle integration helps accurately account for on-chain reserves and promotes the protocol’s one-of-a-kind derivatives platform to a more dedicated trading audience.
Joshua D. Tobkin, CEO and Co-founder of SupraOracles, commented:
“Qilin Protocol believes volatility overlooks liquidity in altcoin trading, which hinders the ability to create a stable derivatives system for most of the altcoin market. SupraOracles is content to be part of this innovative journey by ensuring token utility is accurately reflected in the protocol.”
JC Zhang, founding member of Qilin Protocol, added,
“There is a lack of price feed solutions for the altcoin market in DeFi, which inhibits the growth of this significant crypto sector. If we want to make available derivatives trading experience for these tokens, we need a platform like SupraOracles.”
SupraOracles bridges the gap between traditional financial markets and the web3 world. Our objective is to provide a comprehensive cross-chain oracle to the developer community. SupraOracles mixes real-world data with public and private blockchains to create interoperable smart contracts that protect financial markets in the future. It also provides developers with a collection of tools for creating, deploying, and maintaining quicker, more agile, and more resilient data applications.
Qilin is a decentralized volatility protocol that aims to equip the crypto market with the ability of longing any asset’s volatility, including reducing the risk of liquidity providers through Rebase Share, increasing capital utilization by providing an elastic liquidity supply range, efficiently realizing liquidation with comprehensive liquidation engine, etc.
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