RiveX teams up with Witnet Decentralized Oracle Network

RiveX will use the Witnet Decentralized Oracle Network to power the Sonce NFT platform and other DeFi initiatives!

How RiveX will use Witnet

RiveX will be utilizing the Witnet decentralized oracle network to retrieve and deliver high-value off-chain data to a variety of mechanisms within the RiveX ecosystem.

Statement from Rivex

Mark Tan, Co-Founder of RiveX: “2021 will be an exciting year for the RiveX and its eco-system as this partnership encompasses the reliability, security, and accuracy of price oracles, which is a very important aspect in all the products on Sonce. Oracle price manipulation was a hot topic in 2020, causing many financial losses among the DeFi community. We are confident that Witnet is able to withstand these issues and provide the security and decentralization we’re looking for.”

Statement from Witnet

Adan Sánchez de Pedro, Co-Founder: “The Witnet Community is very excited to work with RiveX as they build on their projects in the coming months and years. It’s great to see projects recognize the need for decentralized and trustless methods to retrieve and deliver crucial data to smart contracts.”

About RiveX and Sonce

RiveX aims to empower the next generation of decentralized applications, decentralized finance, and enterprise solutions with Sonce. Sonce, RiveX’s new venture into DeFi, will be an NFT minting platform, allowing users to mint NFTs based on real-world assets. Introduce blockchain-backed security, fractional investment, and asset tokenization to your project without the frustrations of having to craft NFTs from scratch — or bring your own assets to the blockchain from gold to property and even artwork. Looking to launch your project but worried about liquidity? Sonce can mint tokens for Liquidity Generation Events or LGEs.

About Witnet

Witnet is a next-generation decentralized oracle that leverages state-of-the-art cryptographic and cryptoeconomic techniques to provide smart contracts with secure data inputs. In exchange for WIT tokens, Witnet’s network of permissionless oracle nodes retrieve, attest, and deliver information to smart contracts in a tamper-resistant and decentralized way.

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