Chain linkentered Called a new price method Prices for chain link status To take on a growing challenge in Defi: How reliable assets that mainly act on decentralized exchanges (DEXs) and have low activity at centralized fairs (CEXS). This solution is now live on MAINNET Chainlink Data Feeds (Push-Based) And Chainlink Data Streams (pull-based).
Chainlink -state prices calculates the value of tokens using liquidity data from Onechain Dex -Pools, not just recent trading activity. This makes it especially useful for assets such as liquid reinforcement sticks (LSTs), liquid repair tokens (LRTs) and Tokenized Real-World assets (RWAs) that often do not miss a trade volume but still have considerable liquidity.
Why Chainlink created the prices of the state
The Dex-Central problem
Traditional price models for chain link work well for tokens with high activity between CEXS and DEXs. These models rely on:
- Volume-weighted average price (vwap): Recently used trade volume to set up the price.
- Liquidity -weighted Bid/ASK (LWBA): Uses Exchange Order books to estimate the price in the medium-sized market.
But these do not work properly when:
- Tokens are newly launched and not yet mentioned on CEXS.
- Assets rarely act, but have deep liquidity pools on Dexs.
- Tokens represent RWAS that only act onchain.
Assets such as Wsteth, Gho, Ezeth, TBTC and CBBTC Often fall in this category. They may not see any regular transactions, but users can still make large transactions with little price impact – this indicates a solid liquidity despite low activity.
What are prices for the state?
Prices for chain link status Calculates the price of a token based on the reserves in Dex -Liquidity pools. This ‘State’ of the Pool reflects current market conditions, even when recent transactions have not occurred.
Main characteristics
- Continuous prices: Price is always available, even if no trade has taken place.
- Foreseen: Reflects real -time liquidity conditions.
- Flash Loan Resistant: Used at the end of the block data and robust from biter filters.
- Dex-oriented: Works well with concentrated liquidity pools (eg Uniswap V3, Curve, Balancer).
How State Prices work
Chainlink uses a three -step process to calculate these prices:
1. Dynamic polar selection and hybrid weighting
- Liquidity pools over several DEXs are screened in advance based on activity and depth.
- A hybrid model weighed by both historical volume and current liquidity near the market price.
2. State price calculation
- The data providers from Chainlink require selected Dex -Pools at the end of each block.
- Prices are derived from token reserves using algorithmic models based on the design of each Dex (eg Stableswap, CLMM).
- Prices are converted into USD using triangulation with Fiat OnRamps and Chainlink’s existing data flows.
3. Aggregation and filtering
- Multiple price points are aggregated and led by anomaly detection systems.
- Updates occur once a second with minimal latency, which reduces the risk of manipulation via MEV or flash loans.
Who uses it?
Several large Defi protocols integrate all the prices of the state:
- GMX: Uses it for accurate, real -time collateral prices on its eternal Dex.
- Lido: Applies it to the price WstethA low volume but very liquid LST.
- Aave: Uses it for prices for collateral and liquidation logic for DEX-Native Assets.
- Curve: Acts as a data source because of the deep stablecoin liquidity pools.
Advantages for Defi -Protocols
- Improved risk management: More accurate prices for assets with a low trade volume.
- Improved collateral confidence: Especially for borrowing protocols and perp dex’s.
- DEX-NATIVE Activa Support: Opens the door to wider inclusion of assets.
Risks and considerations
The use of DEX status data comes with specific risks:
- Smart contract risk: Bugs in DEX contracts can be wrecked.
- Bridge Vulnerabilities: Hacks can influence token support and thus disrupt implicit prices.
- External dependencies: Some Pools can rely on offchain or oracle-hardened price input.
Chain link mitigations
- Aggregation over multiple pools reduces the failure of one point.
- Remove filters and anomaly detectors from bijter values.
- Consumers are encouraged to assess the market depth and liquidity when integrating the price feeds of the state.
The wider data strategy from Chainlink
Chainlink now offers several price options:
- Push-based feeds: Regular updates for reference data.
- Pull-based streams: On-demand, low latentie prices for high-frequency use cases.
- Basic and bid/demand prices: For strong assets.
- State prices: For less active but liquid onchain assets.
Together they make the Oracle infrastructure of Chainlink more flexible for both Defi and traditional financial platforms that move.
FAQ
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What are prices for chain link state?
Chainlink State prices are a method to appreciate tokens based on their liquidity in Dex -Pools, instead of commercial history. It offers reliable prices for low volume, DEX-Native Activa.
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How does the prices of the state of the other data methods of Chainlink differ?
In contrast to VWAP or Bid/ARK models that depend on trade volume or order books, the prices of the state uses token reservation data in DEX-Liquidity pools to calculate a future-oriented price.
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Who already uses prices for chain link state?
Important protocols such as GMX, Lido, Aave and Curve have assumed the prices for the State to improve price accuracy and to support a wider range of Onchain assets.
Conclusion
Prices for chain link state give the Defi -Ecosystem a practical solution for price determination sticks that do not act often, but still have an onchain vulidity. This price method is already used by Top-Defi protocols and offers a clear, technically healthy option for appreciating DEX-Centrated and tokenized assets. It is a strategic expansion of Chainlink data services, improving coverage and reliability in a broader range of assets.
Sources:
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Announcement of the prices of the chain link: https://blog.chain.link/state-pricing/
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Chainlink Dcoumentation: https://docs.chain.link/
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Chainlink -Blog: https://blog.chain.link/
