Shrew Will Integrate Chainlink Price Feeds to Enable Real-time price conversions of SHREW reward points
We’re excited to announce that Shrew — the blockchain solution for a universal retail rewards point — will integrate Chainlink Price Feeds on the Binance Smartchain. By integrating Chainlink’s industry-leading decentralized oracle network, Shrew will have access to high-quality, tamper-proof price feeds needed to work out the real-time value of SHREW in a number of fiat and cryptocurrencies cross-exchanges.. This will provide our users with strong assurances that the amount of SHREW they are spending or earning from shopping is accurate against the market price. Both retailers and consumers can also leverage this feature when trading their SHREW on the platform.
We chose Chainlink as our go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. Chainlink already secures leading DeFi protocols responsible for 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.
Shrew is a platform where users can earn, spend and send points using a single app for multiple stores and trade these points with others using blockchain. Shrew will remove the need to carry multiple reward cards for multiple stores and by allowing users to send their shopping points to friends and family, Shrew will also remove thousands of plastic gift cards that we see in stores today.
Shrew aims to revolutionize the multi-billion-dollar reward points industry using blockchain technology. SHREW stands for SHopping REWards and will be the reward point token of the Shrew ecosystem. The SHREW token will be the single currency linking each reward program across a multitude of stores and will thus have deep utility and value.
A single Shrew app with Google / Apple pay integration and a debit card will enable users to earn, spend, trade and send their SHREW rewards points at multiple retailers, giving consumers the freedom they deserve. We will democratize the reward points industry by removing the barriers to entry and allowing stores of any size to join the ecosystem by handling all complexity on our platform.
In order to secure our price feed, we need 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, so we need to make use of an oracle to fetch aggregated price data off-chain and deliver it on-chain to be consumed by our application.
After reviewing various oracle solutions, we selected 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, ensuring broad market coverage through 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 accurate 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.
We plan on further collaborating with Chainlink in the future to bring more exciting functionality to the Shrew platform. By utilizing cutting edge technology such as Chainlink’s, Shrew plans to become the number one rewards system on the planet.
Chainlink is the industry standard oracle network for powering hybrid smart contracts. Chainlink Decentralized Oracle Networks provide developers with the largest collection of high-quality data sources and secure off-chain computations to expand the capabilities of smart contracts on any blockchain. Managed by a global, decentralized community, Chainlink currently secures billions of dollars in value for smart contracts across decentralized finance (DeFi), insurance, gaming, and other major industries.
Chainlink is trusted by hundreds of organizations, from global enterprises to projects at the forefront of the blockchain economy, to deliver definitive truth via secure, reliable oracle networks. To learn more about Chainlink, visit chain.link, subscribe to the Chainlink newsletter, and follow @chainlink on Twitter. To understand the full vision of the Chainlink Network, read the Chainlink 2.0 whitepaper.
Shrew is a blockchain start-up founded in 2021. The company is based in the United Kingdom. The current team hails from all over the world, including the Middle East, and Latin America.
CEO Arfy Shah leads the team with his vast experience in the financial industry. Arfy has worked in leading roles for NYSE companies across a multitude of sectors. These include software development, financial services, and professional audit. With a decade of professional experience and a passion for blockchain, Arfy sets the vision for Shrew.com.
The SHREW token recently launched on the Pancakeswap exchange and is currently available to trade.
For further details on Shrew and investment opportunities, please use the contact information below.