After 3 months of using PARSIQ’s services, let’s catch up to see how their technology is helping bring value and security to our users.
Why does Moonfarm require blockchain data to perform its core utility?
Moonfarm is a yield farming cross-chain aggregator platform. Our highest priority is the safety and security of our users’ funds. We use PARSIQ technology to be able to achieve this goal.
What are Moonfarm’s major data requirements?
Moonfarm requires data from TVL pools such as LINK/BNB, CAKE/BNB, ADA/BNB..etc in the most famous and security AMM like Pancakeswap, Biswap..etc
How does Moonfarm utilize PARSIQ technology?
Moonfarm utilizes PARSIQ technology to be immediately alerted in the case of exceptional events such as hacks or rug pull.
For example: Moonfarm is farming in LINK/BNB pool on Pancakeswap — PARSIQ technology monitors these pools. If any abnormal activity occurs, for instance the TVL of LINK/BNB decreases by 10%, PARSIQ will automatically alert MoonFarm in real-time. This will allow the MoonFarm devs to act quickly, automatically withdrawing assets in this pool, thereby protecting their users’ assets.
How does the speed and accuracy of your data provider impact these core functions?
Moonfarm receives webhooks from PARSIQ about the changes to TVL in the farming pool which sends the notifications to the Moonfarm support team. The Moonfarm team is able to set the critical level for each farming pool. If it reaches the level, Moonfarm system will be automatically unstake to protect users’ funds. Obviously, speed and accuracy are vital.
Why did you choose PARSIQ? / What about PARSIQ made you decide to use our tools over other providers?
PARSIQ provides exactly what was needed, instantaneous real-time TVL pools data from the most reputable and trustful source.
MoonFarm would recommend PARSIQ because…
In addition to the speed and accuracy of the data, we’ve been very impressed by the PARSIQ developer support. We’re very happy with the solution and assistance we’ve received implementing it.
About Moonfarm Finance
Moonfarm is a DeFi and Centralized Finance (CeFi) hybrid yield farming aggregator. It provides the best of both worlds, offering all the cost-effectiveness, easy access, transparency, and rapidity of DeFi yield farming, in addition to offering the security associated with a centralized financial ecosystem.
Moonfarm optimizes Yield Farming interest (APY/ APR) and provides users with the ability to choose what farms they want to use, or the system will automatically determine the best farming strategies using the yield optimization engine.
PARSIQ is a full-suite data network for building the backend of all Web3 dApps & protocols. The Tsunami API provides blockchain protocols and their clients (e.g. protocol-oriented dApps) with real-time data and historical data querying abilities. Data Lakes are indexed blockchain data APIs which allow you to integrate custom-tailored data solutions.