Holdstation Integrates Chainlink Price Feeds to Secure Seamless Trading Experience

Holdstation Integrates Chainlink Price Feeds to Secure Seamless Trading Experience

We’re excited to announce that Holdstation—a smart contract wallet for futures trading and an active Chainlink BUILD member—has integrated Chainlink Price Feeds on zkSync Era mainnet. By integrating the market-leading decentralized computing platform, Holdstation has access to high-quality, tamper-proof price feeds needed to provide our users with stronger assurances regarding the integrity of price data for their trading assets, as well as support a more stable technical framework for Holdstation Defutures.

Our initial integration includes using the industry-standard Chainlink Price Feeds to help price our trading pairs. We chose Chainlink as our preferred oracle solution because its infrastructure is seamless to integrate and time-tested in production. As the most widely adopted price data standard in Web3, Chainlink already helps secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans

As a pioneer in both DeFi and wallet technology on zkSync, Holdstation's mission is to facilitate the transition of millions of traders and the associated trillions of dollars in the Web2 futures (also known as CFD) market into the Web3 ecosystem by streamlining their onboarding experience. To achieve this, Holdstation provides an advanced account abstraction wallet solution that’s natively integrated with a cutting-edge futures trading app called Holdstation Defutures.  

In order to help secure Defutures, we needed access to fresh asset prices that are supplied directly onchain in a highly reliable manner. Fair market asset prices should reflect a volume-weighted average from all trading environments. Thus, we needed to make use of an oracle network to fetch aggregated price data offchain and deliver it onchain to be consumed by our application.

After reviewing various oracle solutions, we integrated Chainlink Price Feeds because they lead the market in providing the following mission-critical features, among others: 

  • 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 of outliers and wash trading. Chainlink’s data aggregation model generates more precise global market prices that are inherently resistant to inaccuracies or manipulation of any single or small set of exchanges. 
  • Secure Node Operators — Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises. Chainlink nodes have a strong track record of reliability, even during high gas prices and infrastructure outages. 
  • 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 either the data provider or oracle network.

The integration of Chainlink Price Feeds is merely the initial step in incorporating Chainlink’s innovative technology into Holdstation. As we expand Holdstation with zero-knowledge technology and hyperscaling, as well as the upcoming launch of our products on multiple chains, the Chainlink platform will play a crucial role in broadening our reach. 

“We’re fully prepared for the upcoming launch of Holdstation V2, and our ongoing product developments are set to kickstart soon. Chainlink’s industry-standard platform is integral to our plans, factoring significantly into the integration of our product features,” said Trung Banh, Product Manager at Holdstation. 

Chainlink is the industry-standard decentralized computing platform powering the verifiable web. Chainlink has enabled over $9 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors. 

Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link.

About Holdstation

Holdstation is a smart contract wallet designed for futures trading. Our primary objective is to bridge the gap between decentralized finance (DeFi) and traditional finance (CeFi) by providing a user-friendly experience accessible to millions of users onboarding from Web2 to Web3.