Alpha Finance Launches Oracle Aggregator

According to an Alpha Finance blog post published on 10 May, the integration with data oracle providers Band Protocol and Chainlink will ensure scalability, flexibility, and security for the Alpha ecosystem. The Alpha Oracle Aggregator will enable Alpha products to access verified data aggregated from up to three data oracles for a single asset in one location. Data can also be accessed from different oracles for different assets, the company explained.

This will expand Alpha’s cross-chain capability in a scalable way, as the aggregator can continue to work with Band Protocol and Chainlink even when deployed on other blockchain networks.

The aggregator will provide a consistent and reliable price feed by ensuring an asset’s price remains within a predetermined threshold of at least two oracle sources, and will also enable the protocol to support more assets—Alpha Finance can access data for all desired assets from multiple oracle providers simultaneously. 

The first to benefit from the Alpha Oracle Aggregator is Alpha Homora, the company’s yield farming product, which recently deployed on Binance Smart Chain and launched a new tokenomics model, enabling users to stake ALPHA tokens across multiple blockchains and L2 solutions.