TLXFi Integrates Chainlink Automation and Price Feeds on Optimism to Enhance Security and Automate Token Rebalancing

TLXFi is using Chainlink to enhance security and automatically rebalance tokens for its protocol.

TLXFi, a custodial leveraged token platform, has integrated Chainlink Automation and Price Feeds on the Optimism network.

This integration will enable TLXFi to automate processes such as token rebalancing, saving developers on setup and maintenance costs and helping them get their products to market faster.

TLXFi is a permissionless, non-custodial leveraged token platform built on Optimism. It allows users to create leveraged tokens (LTs), which can be redeemed for 50+ assets with up to 20x leverage.

Each LT is backed by a perpetual futures contract issued by Synthetix. Leveraged tokens are ERC-20 tokens that provide leveraged exposure to an asset and maintain the leverage factor within a defined range. The tokens are created using the Synthetics Perps V2 engine.

These tokens provide a quick way to access leveraged positions using the deep liquidity and low fees offered by Synthetix.

Chainlink Automation and Price Feeds are two of the best features of Chainlink.

Developers can automate smart contracts using a secure and hyper-reliable decentralized network, which uses the same battle-tested external network of node operators that helps secure billions of dollars.

By using Chainlink Automation, developers can save time, money, and effort in getting their products to market quickly. They can skip the setup costs, ongoing maintenance, and risks associated with centralized automation systems.

Chainlink Data Feeds, on the other hand, are collections of on-blockchain data sourced from multiple providers and aggregated by a decentralized network of independent node operators.

With some exceptions, a single feed can only contain data from a single source.

This integration allows developers to focus on innovation and functionality and stop building and maintaining their own data feeds and automation systems.

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