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    CoinFLEX Integrates Chainlink Price Feeds In Move Toward Decentralization

    CoinFLEX is a blockchain-based CeFi exchange designed to bring investors and crypto markets together by offering users innovative ways to earn yield on their digital assets. These include CoinFLEX’s automated market maker, AMM+, which maximizes capital efficiency by combining a DeFi AMM with CeFi order book trading. Last week, CoinFLEX announced its integration of Chainlink Price Feeds to boost its resiliency against potential attack vectors and unexpected downtime.

    As the most time-tested industry-standard oracle solution, Chainlink Price Feeds already secure tens of billions of dollars for leading DeFi projects. Co-founder and CEO of CoinFLEX Mark Lamb told Chainlink Today that Chainlink’s tamper-resistant, permissionless, decentralized price data adds an “extra level of robustness” in extreme cases of data provider downtime, market volatility, flash crashes and other outlier situations.

    “We’re very excited about the Chainlink integration, as it’s perfectly in line with our move towards decentralization,” he said. 

    According to Lamb, CoinFLEX’s move toward decentralization includes integrating the “best features” of DeFi, such as decentralized custody, into its CEX platform. Decentralized custody secures users’ funds through a decentralized smart contract instead of a centralized custodian. “Rather than sending their funds to CoinFLEX, users send it to a decentralized smart contract that’s not managed by CoinFLEX or any single party,” he explained.  

    In Lamb’s view, CoinFLEX exemplifies how CeFi products like AMM+ can offer alternative benefits to DeFi users. He believes the integration of Chainlink Price Feeds is an important step forward in the collaboration between CeFi and DeFi.

    “It shows how we can take the best of both worlds to create new opportunities for everyone.”

    To learn more about CoinFLEX, visit their website, Telegram, Twitter, Facebook, Youtube and Reddit.

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