WOM Protocol Launches Chainlink Label Oracle on Mainnet

February 23, 2023

WOM Protocol Pte. Ltd. is proud to protest that now we cling successfully constructed-in Chainlink’s market-leading decentralized oracle community. The first of these integrations, which is now survive mainnet, is the starting up of a Chainlink powered WOM/USDLabel Reference Feed. This label oracle provides WOM protocol with a decentralized label feed that represents a quantity-adjusted aggregation from all liquid trading markets and updates in a vogue that follows label volatility. Now now not easiest does it present label precision, but it absolutely’s decentralized architecture provides WOM access to a tamper-resistant source of label files to existing to our stop customers and employ inside our rewards device to denominate rewards in USD.

Besides label oracles, WOM is actively working on a deeper stage integration that can employ Chainlink to bring authentication facts about roar material creators on-chain. Since WOM is now now not a platform, but a permissionless protocol, it’ll authenticate files from a vast form of platforms, at the side of: social media, publishing, messaging, or e-commerce platform. Chainlink can then relay that files to any blockchain, which acts as an immutable, public database to retailer relied on metrics about the effectiveness of roar material advertising and marketing campaigns and roar material creators across platforms.

Building a Greater Verbalize material Ecosystem The employ of WOM Protocol and Chainlink

The WOM Protocol permits manufacturers, advertisers, roar material providers, and creators to safe and leverage observe-of-mouth strategies–the finest create of promoting. The WOM Protocol is uncommon because it avoids the latest pitfails seen in influencer advertising and marketing and diverse person-generated roar material advertising and marketing objects–particularly invasive ads, wasted advertising and marketing budgets, and a unpleasant person ride. As a replace, WOM Protocol leverages the general public and immutable nature of the blockchain alongside with constructed-in monetary incentives by technique of WOM tokens to safe and distribute observe-of-mouth roar material.

The core idea in creating great incentive mechanisms that form obvious real strategies is to obtain any single aspects of failure in the advertising and marketing course of. In this regard, no one safe collectively is as much as the mark of determining the label of strategies and distributing monetary rewards. This brings belief and authenticity to the course of, which drives person engagement.

Being decentralized stop-to-stop is key to the WOM Protocol. By leveraging Chainlink’s oracle community for WOM/USD market files to label rewards, a core factor of the device is decentralized. This shouldn’t bolt understated as decentralizing the distribution and valuation of monetary incentives avoids main conflicts between the a pair of WOM stakeholders.

Upon a deeper dive into oracle strategies, Chainlink supplied the most functional and accessible oracle framework on the market, which modified into as soon as each available straight and required easiest a modest investment in model time. Through integration with Chainlink, WOM is now ready to securely and reliably ascertain the realm market label of the WOM Token, with none central coordination or having to limit the ride to a single change or maybe a miniature sequence of exchanges, which can maybe maybe even be with out scream hampered by market manipulation.

Francis West, CTO of WOM Protocol Pte. Ltd acknowledged this of the Chainlink integration:

“Chainlink provides a fee efficient, straight deployable resolution to decentralizing the monitoring of our asset’s market label. Their resolution is easy, as modified into as soon as the integration course of. In the very prolonged time-frame we are succesful of develop this integration with out grand overhead.”

Taking a ask beyond, the flexibleness of every WOM and Chainlink originate up a ways more worthy employ cases round roar material authentication across any and all main platforms. WOM can plugin to any platform to authenticate roar material effectiveness whereas Chainlink can protest that files to any blockchain environment. This provides maximum flexibility and doesn’t pigeonhole advertising and marketing campaigns and metrics to anyone platform or blockchain.

Daniel Kochis, world head of commerce model for Chainlink acknowledged this of WOM Protocol:

“We’re infected to head live with WOM as Chainlink’s first MarTech mainnet integration. They’re now now not easiest constructing a protocol that can even be constructed-in into any social media, publishing, messaging or e-commerce platform, but are doing so in a vogue that addresses major complications going thru the advertising and marketing commerce; in the kill allowing diversified stakeholders to execute more label from advertising and marketing-basically based utterly mostly advertising and marketing”

The first WOM-supported platform could maybe even be downloaded on iOS and Android:

https://apps.apple.com/de/app/yeay/id1070699048?l=en
https://play.google.com/retailer/apps/particulars?id=yeay.television.yeay&hl=en

The WOM Authenticator device is obtainable on iOS and Android to boot:

https://play.google.com/retailer/apps/particulars?id=io.womprotocol.authenticator&hl=en_US
https://apps.apple.com/app/wom-authenticator/id1501404475?l

About WOM

The WOM Protocol permits the monetization of observe-of-mouth (WOM) strategies for manufacturers, creators, and publishers. The WOM Protocol is live and being tested with more than 900 manufacturers–at the side of adidas–and platforms with a community of thousands and thousands of creators and authenticators. The WOM Protocol is focusing on the $335 billion annual digital advertising and marketing utilize, by turning into the main advertising and marketing channel for manufacturers and main income stream for roar material platforms. Backed by dozens of seasoned traders from across the enviornment.

For more data about WOM:https://womprotocol.io/

About Chainlink

Whenever you’re a developer and are seeking to fast safe your utility connected to Chainlink Label Reference Info, consult with thedeveloper documentationand be half of the technical dialogue inDiscord. Whenever you love to want to time desk a name to discuss the integration more in-depth, attain outright here.

Chainlink is an originate source blockchain abstraction layer for constructing and working decentralized oracle networks that give your well-organized contract access to trusty and real files inputs and outputs. It provides oracles to leading DeFi applications love Synthetix, Aave, and Kyber Community; diverse blockchains such as Ethereum, Polkadot, and Tezos; to boot to beautiful enterprises at the side of Google, Oracle, and SWIFT.

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Final modified: July 29, 2020 1: 44 PM UTC