Flux Protocol is an open data infrastructure for creating permissionless and scalable markets without third-party mediation. Built by the community and for the community, every aspect of the protocol is open-source, enabling the community to design and develop bespoke solutions for powering an infinite range of verticals ranging from synthetic assets and derivatives to insurance and prediction markets. Flux is supported and developed by the Open Oracle Association, a Swiss Non-Profit entity with the sole purpose of supporting the ecosystem through the distribution of grants both in monetary means through USDC and the Flux Token.
The Flux Oracle’s design introduces a novel mechanism to provide a broad range of validated data to high-value DeFi protocols, acting as an oracle aggregator with an additional layer of security providing a single stream of validated data to DeFi across layer ones. The project just recently raised more than $10M by big names in the space, notably Coinbase Ventures. Built on top of Near Protocol for the fast and cheap transactions, the product offers a wide range of use-cases, but the integration is not that straight-forward nor well documented yet. Time will tell if the solution is needed, and it receives its expected adoption. The project currently doesn’t have a token.