We are thrilled to announce that APRO Oracle is joining forces with CKB to introduce a cutting-edge price oracle specifically designed for the Bitcoin Layer 1 ecosystem. This innovative oracle service leverages UTXO Stacks to deliver real-time price feeds, primarily catering to the stable++ algorithmic stablecoin, ensuring accurate and reliable CKB and BTC price data.
Robust Price Aggregation and Consensus for Enhanced Security
The core function of the APRO Oracle is to aggregate and generate price data through a decentralized oracle network. This data is then processed and reaches consensus within the network, ensuring its integrity and reliability. By integrating with Nervos CKB, a versatile Layer 1 blockchain, APRO Oracle provides a robust and secure price oracle solution that transcends the limitations of traditional currency-focused blockchains like Bitcoin. Nervos CKB is designed to store all forms of common knowledge, including valuable cryptographic proofs, thereby enhancing the security of Layer 2 protocols built on top of it.
Stable++: A Revolutionary Stablecoin Protocol
Stable++ is an innovative stablecoin protocol built on the CKB blockchain. Unlike many stablecoins that rely on fiat reserves or algorithmic mechanisms, Stable++ adopts an over-collateralization model, ensuring each coin is backed by assets of greater value. This approach offers several key advantages:
Source: CKB Eco
Enhanced Stability: By backing each Stable++ coin with higher-value assets, the protocol significantly reduces the risk of de-pegging, maintaining greater price stability and reliability.
Expanded DeFi Ecosystem: Stable++ has the potential to unlock new DeFi opportunities within the Bitcoin ecosystem. Its introduction can pave the way for innovative financial products and services, fostering a dynamic and versatile DeFi landscape.
Increased Utility: Serving as a medium of exchange, a store of value, and collateral for various financial contracts, Stable++ broadens its range of use cases. This versatility enhances its appeal and functionality within the crypto ecosystem.
Support for Bitcoin Adoption: By using Bitcoin as collateral, Stable++ not only leverages Bitcoin’s robust security features but also encourages its use in new and diverse financial applications. This approach promotes wider Bitcoin adoption and integration into the DeFi world.
Stable++ stands as a pioneering force in the stablecoin market, poised to drive significant advancements and unlock new potentials within the Bitcoin and DeFi ecosystems.
APRO Oracle: Powering the Future of Bitcoin and BTCFi
APRO Oracle is a decentralized oracle network specifically tailored for the Bitcoin ecosystem, offering the widest coverage in the Bitcoin space. By integrating with over 20 chains, supporting more than 90 assets, and partnering with 100+ Bitcoin projects, APRO Oracle provides unparalleled data services.
Ensuring data integrity and access control through its robust decentralized network, APRO Oracle seamlessly integrates with CKB’s unique cell model. This integration enhances the stability of protocols like Stable++, providing accurate and secure price feeds that unlock new DeFi opportunities and applications. As we anticipate the upcoming growth of Nervos CKB’s DeFi ecosystem, APRO Oracle is poised to drive the explosive expansion of BTCFi, empowering innovative financial products and services.
A New Era for Bitcoin DeFi
The partnership between APRO Oracle and CKB Eco Fund represents a significant milestone in the evolution of Bitcoin DeFi. Through this collaboration, APRO Oracle has successfully created a truly native Bitcoin price oracle that can operate seamlessly across both Layer 1 and Layer 2 solutions. This development positions APRO Oracle at the forefront of custom oracle services, offering unparalleled support for the Bitcoin ecosystem.
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