Skip Protocol introduces Slinky:
- Slinky presents itself as the first restaked Oracle aggregator in the cryptocurrency market.
- Built on Cosmos SDK innovations, Slinky allows validators to publish Oracle data in an unalterable manner with each block.
- By integrating Slinky’s operations into the protocol, Skip Protocol eliminates the vulnerabilities associated with transaction-based Oracles.
Skip Protocol introduces Slinky
Skip Protocol, a protocol specializing in providing decentralized data solutions, has recently unveiled Slinky, an “Oracle” aggregator designed for perpetual markets and decentralized finance (DeFi) as a whole.
Slinky stands out by enhancing the management of decentralized data through three main advancements: restaked security, minimized trust, and “BFT delivery,“ promising millisecond-accurate pricing, guaranteeing this with every block.
Innovations brought by Slinky
Slinky introduces “restaked security” by reusing all available native security, thus eliminating the need for external committees and minimizing required trust.
This approach ensures price updates with speed, reliability, and security equivalent to those of the underlying chain. For DeFi applications, this means independence from trusted intermediaries, users’ exchange liquidations without waiting for Oracle prices, and freedom of choice in data providers.
Slinky-powered chains thus become a hub for perpetual market development and other high-performance DeFi applications.
Simplified participation of validators
Slinky is built on key advancements of Cosmos SDK, including ABCI++ for modularization of Oracle operation within consensus, and vote extensions enabling validators using Slinky to publish censorship-resistant Oracle data with each block.
Validation plays a crucial role in Slinky’s functioning. Validators can operate through the software “SuperSidecar”, which simplifies their participation greatly. By integrating Slinky’s operations into the protocol, Skip Protocol eliminates vulnerabilities of transaction-based Oracles, as demonstrated by the recent attack on Levana Protocol.
With consensus integration, Slinky would outperform current oracles in terms of performance and responsiveness.
