Stratis’s interoperability solution, Stratis InterFlux, has become the first product under the Stratis Blockchain Technologies framework to incorporate Stratis’ Oracles feature. Through the introduction of Stratis’ Oracles, dynamic fee application has been introduced, resulting in drastically lower fees for the end-user. Stratis’ Oracle feature has been employed to query real-time pricing of both the current Ethereum gas price, which is highly volatile and in addition, the current USD value of the STRAX Token. These crucial metrics enable a dynamic fee to be applied to all trustless conversion requests, resulting in fair and consistent fees being applied based upon actual market data.
Stratis’ approach to achieving cross-chain transactions is not a new concept, with Stratis being one of the first within the blockchain space to fully integrate trustless cross-chain support through its Smart Contract Sidechain(s). Unlike other cross-blockchain solutions that rely upon a centralized service to handle cross-chain transaction requests, Stratis’ implementation is wholly decentralized and trustless, with transactions being conducted in an autonomous and unbiased manner. Over USD 10M has been transacted through Stratis’ existing solution within recent months. Stratis InterFlux builds on top of this well-established feature within the Stratis Blockchain Technologies framework.
While this release predominantly focuses on the release of InterFlux v2, the employment of Stratis’ Oracles excites those within Stratis, as the applicability of additional use-cases through the utilization of Stratis’ Oracles becomes a vivid reality. The ability to query external services, such as data points provided by world-renowned data providers, such as Bloomberg, opens many use-cases. Stratis will, in future, compile and present use-case studies highlighting the benefits of utilizing Stratis Oracles.
An updated wallet release accompanies the InterFlux v2 Release; a full production release of the STRAX Wallet is now available, enabling anyone to perform a wSTRAX conversion with ease.
As usual, the updated STRAX Wallet is available on all major platforms and can be obtained from the wallets page below:
wSTRAX Tokens can also be effortlessly exchanged back to the STRAX Token through the InterFlux WebApp.
In addition, a Liquidity Competition will be launched next week (w/c 9th August 2021) with a USD 50,000 prize pool, celebrating the launch of InterFlux v2 and rewarding those who add liquidity to the wSTRAX/ETH pair pool. Stay tuned to ensure you don’t miss out on a share of the prize pool.