tomi Integrates Chainlink Price Feeds to Help Unlock tomiNet Web Innovation and Adoption
In line with its commitment to use only the best Web3 infrastructure, tomi is delighted to announce the integration of Chainlink Price Feeds within tomiNet mainnet. By integrating the industry-leading decentralized oracle network, tomi enables users to access any Price Feed-enabled digital asset within the tomi wallet and use it in any transaction within the tomiNet web.
Price Feeds helped solve one of the largest challenges facing tomi—validating live exchange rates. The initial solution was to restrict the currencies enabled just to stablecoins, but to make the network widely accessible to all Web3 users, tomi undertook an active search for a reliable price feed and exchange rate solution for digital assets and fiat currencies.
Chainlink Price Feeds enable tomi to accept payments in a wide variety of currencies, expanding the potential use cases and utility of the tomi network. For the first time, tomi users can purchase Pioneer NFTs—needed to make proposals to the tomiDAO—using a wide variety of digital assets at a fixed price of $3,000 USD, regardless of the time or asset price when they are purchasing. Users can also purchase tomi domain addresses using this same varied group of digital assets, thanks to Chainlink Price Feeds.
Chainlink’s standout security features align well with tomiNet’s mission to promote free speech, fight censorship, and grant full access to information for users around the world while providing protection against bad actors. Reliable, secure, and decentralized price feed data helps ensure the integrity of tomi’s network, no matter what digital assets netizens decide to use.
tomi chose Chainlink as its oracle solution because its infrastructure is seamless to integrate and time-tested in production. Chainlink already helps secure leading DeFi protocols responsible for tens of 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.
A few standouts of Chainlink Price Feeds include:
● High-Quality Data— Data is sourced from numerous premium data aggregators like BraveNewCoin and Kaiko, leading to volume-adjusted global market prices with robust market coverage.
● Reliable Nodes—Price feeds are secured by a decentralized network of independent, security-reviewed, Sybil-resistant oracle nodes run by leading blockchain DevOps teams with a proven history of hyper-reliability.
● Decentralized Infrastructure — Both the data sourcing and transmission on-chain are decentralized, removing any central point of failure.
During the development of the platform, the tomi team was concerned that limited payment options could reduce network engagement and reduce operational viability for some of the online businesses that are looking for a censorship-resistant Internet. With the Chainlink service integration, tomiNet enables website owners to charge for goods and services in whatever payment method they prefer. This increased flexibility gives wider access to the network, supercharges growth opportunities, incentivizes DAO treasury growth, and supports the development of network effects for the system as a whole.
“Chainlink Price Feeds allow us at tomi to provide all the payment capabilities of Web2 and Web3 without any of the risks usually associated with cryptocurrency pricing. Providing this full range of payment options is one more reason for businesses and users to adopt tomi as the worldwide web of choice. ” —the tomi team
About Chainlink
Chainlink is the industry-standard Web3 services platform that has enabled trillions of dollars in transaction volume across DeFi, insurance, gaming, NFTs, and other major industries. As the leading decentralized oracle network, Chainlink enables developers to build feature-rich Web3 applications with seamless access to real-world data and off-chain computation across any blockchain and provides global enterprises with a universal gateway to all blockchains.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link. To discuss an integration, reach out to an expert.
About tomi
tomi creates a complete alternative world wide web that combines the best of Web2 and Web3 technology for a privacy-preserving, self-governed, and self-funding Internet. Anyone can access this parallel web through a simple browser, freeing themselves from the surveillance and control of large organizations which have come to dominate the world wide web. Rather than reinventing the entire infrastructure, tomi takes basic working building blocks of the web and supplements them with governance, cryptocurrency, identity, and privacy layers that enable users to govern the web through a direct democracy DAO.
To learn more about tomi, visit tomi.com.
