Decentralized Oracles: Bringing Off-Chain Data On-Chain

Axiom integrates a network of decentralized oracles that pull data from multiple trusted external sources. This data is then fed securely into Axiom’s smart contracts, allowing DeFi applications on the platform to react to real-world events. These oracles aggregate and verify data from various providers, ensuring it is accurate, reliable, and up-to-date.

Oracles in action:

These decentralized oracles are critical for functions such as price feeds in lending protocols or interest rate adjustments in borrowing applications. The integration of oracles ensures that Axiom’s smart contracts can execute based on real-time market data, enhancing the reliability of financial transactions on the platform.