Morphex Integrates Chainlink Price Feeds to Help Secure Decentralized Perpetuals Exchange

We’re excited to announce that Morphex and BMX by Morphex — DEXs offering spot and perpetual futures trading — have integrated Chainlink Price Feeds on Fantom and Base mainnets. By integrating the industry-leading decentralized oracle network, Morphex has access to high-quality, tamper-proof price feeds needed to help power our decentralized perpetual futures exchange.

Our initial integration includes the BTC/USD, ETH/USD, FTM/USD, USDT/USD, and USDC/USD Price Feeds on Fantom and the WBTC/USD, ETH/USD, DAI/USD, and USDC/USD Price Feeds on Base. We chose Chainlink as our go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. 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.

Morphex and BMX are emerging decentralized exchanges offering spot and perpetual futures trading while requiring only a wallet connection to use. All trades are settled against the Morphex Liquidity Pool (“MLP”) or BMX Liquidity Pool (“BLT”), where a user can provide liquidity with any whitelisted asset, and in exchange, receive MLP/BLT tokens, representing their share in the diversified liquidity pool.

For traders, Morphex and BMX offer various advantages over other exchanges, including:

• Low transaction fees
• No price impact
• Price wick liquidation protection (while keeping full control of your assets)
• Increased capital efficiency for liquidity providers on BMX through the usage of a Yearn-derived auto-compounding wrapper for BLT (“wBLT”), which can then be used in other liquidity pairs on partner DEXs

In order to help secure Morphex’s perpetual futures, we needed access to fresh asset prices that are supplied directly on-chain 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 off-chain and deliver it on-chain to be consumed by our application.

After reviewing various oracle solutions, we integrated Chainlink Price Feeds because they provide a multitude of critical features such as:

• 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.
• Reputation System — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical and real-time performance of node operators and oracle networks.

“Providing a top-notch perpetual trading platform requires best-in-class market data infrastructure. This is why we integrated Chainlink Price Feeds into Morphex and BMX.” — Morpheus (Founder)

About Chainlink

Chainlink is the industry-standard Web3 services platform that has enabled trillions of dollars in transaction volume across DeFi, insurance, gaming, NFTs, and other major industries. As the leading decentralized oracle network, Chainlink enables developers to build feature-rich Web3 applications with seamless access to real-world data and off-chain computation across any blockchain and provides global enterprises with a universal gateway to all blockchains.

Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link. To discuss an integration, reach out to an expert.

About Morphex and BMX

Morphex is a decentralized perpetual exchange on Fantom, allowing thousands of users to trade spot and margin with just a wallet connection, and giving liquidity providers higher levels of capital efficiency for their market-making liquidity. BMX by Morphex is also a perpetual exchange but on Base, with an increased focus on capital efficiency of deposited liquidity through the usage of industry-standard vaults, allowing the further utilization of the blue-chip assets deposited on partner platforms and protocols.