LandX Integrates Chainlink Data Feeds & Automation
In December 2023, we integrated Chainlink data feeds and automation into the LandX Protocol to bring agricultural commodity prices on-chain. By doing so, we were able to offer our users accurate yields on LandX xToken perpetual commodity vaults.
The Continued Growth of LandX Through Chainlink’s Industry-Standard Service Support
Commodity Vaults provide investors an inflation hedged return backed by a legal contract secured on underlying farmland. LandX makes commodity vaults available as a liquid digital asset - xToken, offering uncorrelated, inflation-hedged diversification.
Farmers receive upfront capital for committing a legal share of their crop in perpetuity.
Validators help tokenize farmland crops through a decentralized legal and economic framework.
Investors buy xTokens for asymmetric exposure to real farmland commodities.
Securing Commodity Price Data With Chainlink Feeds
Chainlink’s oracle service provides a connection between off-chain data and the smart contracts which live in an isolated virtual machine on the Ethereum network. The data feeds bridge the gap between traditional finance and DeFi.
High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that’s aggregated from hundreds of exchanges, weighted by volume, and cleaned from outliers and suspicious volumes. Chainlink’s data aggregation model generates more precise global market prices that are resistant to API downtime, flash crash outliers, and data manipulation attacks like flash loans.
Secure Node Operators — Chainlink Price Feeds are secured by independent, Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.
Decentralized Network — Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by the data provider or the oracle network.
Transparency — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.
Chainlink Automation provides timely regular updates to our oracle. The system managed by MatrixedLink provides hands off regular automatic on-chain transactions at regular intervals.
Highly reliable, performant, and decentralized automation — Chainlink Automation ensures transactions are identified and confirmed quickly even during periods of heavy network congestion by leveraging Chainlink’s battle-tested transaction manager.
Time-tested infrastructure that helps save costs — Chainlink Automation enables us to eliminate in-house automation infrastructure costs, reduce resources spent on DevOps, and increase speed and efficiency.
Built to enable faster scaling — Chainlink Automation enables us to scale faster and avoid the challenges that come with building and maintaining the infrastructure needed to reliably automate across multiple chains.
Unlocks new use cases — With smart contract automation, we’re able to explore new use cases and unlock capabilities that would otherwise not have been possible.
Easy-to-use — Developers are able to schedule time-based automation jobs in seconds using the Chainlink Automation Job Scheduler's no-code UI.
Our focus at LandX will be on leveraging the robust capabilities of Chainlink to further bridge the gap between real world assets and decentralized finance. The integration of Chainlink's oracle solutions into our protocol was just the beginning.
Our vision is to offer a broad range of products and establish LandX as the leading agricultural finance protocol. By doing so, we aim to create a more inclusive and diversified environment for farmers and investors.
Chainlink's technology will play a crucial role in ensuring that the data feeding into these products is accurate, timely, and tamper-proof. Furthermore, the continued use of Chainlink Automation will enhance the efficiency and reliability of these new offerings, ensuring they operate smoothly and effectively, regardless of network and market conditions.
This expansion is not just about growth for LandX, but about creating a more resilient and versatile DeFi ecosystem that can truly serve a global audience.
"Selecting Chainlink as our oracle & automation provider in this journey was a strategic decision. The robust infrastructure and proven reliability align perfectly with our mission to bridge real world assets with DeFi. Chainlink's technology not only enhances our current offerings but also paves the way for future innovations, enabling us to bring more value to our users and make a significant impact.." – LandX Spokesperson
Bridging the agriculture financing gap, LandX provides upfront capital to farmers in return for a percentage of their future harvests. The financing is secured by the underlying farmland, offering investors an opportunity to earn sustainable yield backed by tangible assets.
Website & App: https://landx.fi
Twitter: https://twitter.com/landxfinance
Discord: https://discord.gg/landx
Medium: https://medium.com/landx
Telegram: https://t.me/landxfin
Please note LandX products are not available to US users.
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