Gold Retriever Announces Chainlink Integration

What if you could trade commodities on a decentralized exchange as easily as you could trade cryptocurrency? What if a premier crypto infrastructure project was helping make that vision a reality?

That’s the broad premise behind Gold Retriever: to trade commodities on the blockchain and build out the ecosystem accordingly. With the global commodities market set to exceed $5 trillion, our technology will help the crypto community tap into that value. Now a new integration with Chainlink will help enable Gold Retriever to pull in live price data from traditional markets.

Chainlink is the best-in-class oracle provider. Chainlink Price Feeds and Chainlink Proof of Reserve—which are now integrated with Gold Retriever—are secured by independent, Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during times of high gas prices and extreme network congestion.

Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong assurances regarding accuracy and reliability. That includes the spot price of wheat, crude oil, soybeans, and more, along with the auditing of our reserves.

This integration represents a kind of coming-out party and stamp of approval for Gold Retriever as we endeavor to become a commodities-based payment method, a figurative anti-dollar. But people in the blockchain space tend not to understand commodities, and commodities traders have no reason to understand the blockchain until it affects their work. Now we’re getting support from Chainlink to bridge that gap. We started with gold, but this technology readily maps to every commodity that’s traded in the world today.

The GLDN token serves as a gateway to this ecosystem. Users hold it to trade the assets supported by the DEX. As GLDN is traded, those fees buy PAX Gold that gets distributed to holders, hence the physical commodity backing.

Centralized exchanges don’t know how to do this. The standard crypto playbook would see us build a project, get it on centralized exchange, and then cash out. But this is the opposite. We’re getting the commodities and Web3 communities to understand each other by building a new intersection between Wall Street and crypto.

Our development pipeline from here only gets more ambitious and this Chainlink integration is an essential step on that roadmap. Our finished product will be a decentralized exchange for trading commodities with nearly instantaneous transactions.

We began with a vision of combining gold and crypto. Since then we have tokenized water with our new Blu Arctic brand, will be partnering with the largest non-professional esports team in the United States, and are working with multiple corporations to buy GLDN for their employees.

We believe in the future of commodities on the blockchain and are thrilled to have support from the most trusted Web3 services platform.

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 Gold Retriever

Gold Retriever is taking the lead on bringing commodities to the blockchain. Gold Retriever’s flagship is $GLDN, a decentralized financial asset that rewards its holders in the form of the gold-backed stablecoin PAX Gold. Gold Retriever is building DeFi’s first commodities-based ecosystem with the Gold Retriever token at the center of it all.

Learn more about Gold Retriever by visiting goldretriever.io or reading the white paper here.