We’re excited to announce that 3air—a startup aiming to connect billions of users to Web3 by combining high-speed broadband Internet with a blockchain-based platform—has integrated Chainlink Automation live on BNB Chain mainnet. We are leveraging Chainlink Automation to securely and cost-efficiently automate the distribution of staking rewards. As a result, users have high assurances that rewards are reliably distributed to stakers once per week.
We decided to decentralize 3air’s staking reward distribution mechanism using Chainlink Automation because it is operated by the same pool of time-tested, provably reliable node operators that currently help secure tens of billions of dollars in the DeFi space, even during record levels of network congestion and extreme volatility. The proven infrastructure of Chainlink helps ensure that every staking reward distribution is executed on time in a trust-minimized manner, giving users additional guarantees that it will function as intended.
The 3air ecosystem bridges the gap between unconnected users and the global Web3 ecosystem. It enables users to access a high-speed Internet subscription through a Connectivity NFT that can be shared, transferred, and used at any 3air-compatible location. Once connected, 3air’s blockchain platform offers users access to the Web3 world of NFTs and DeFi. Users can own unique digital identities, create wallets, access micro-loans, and participate in reward-generating activities.
3air Staking Pool
3air’s continuous staking pool is a floating APY pool with set rewards that are distributed equally to all staked tokens. The floating APY pool does not grant a fixed APY on staking but balances the APY rate based on staking supply and demand. The pool grows on a logarithmic scale to match the token’s circulating supply. Chainlink Automation helps ensure that staking rewards are regularly and consistently distributed to stakers.
Choosing Chainlink Automation
Chainlink Automation is a decentralized service purpose-built to manage tasks on behalf of smart contracts. Chainlink Automation serves as a decentralized, hyper-reliable, and economically incentivized automation bot that wakes up smart contracts when they need to perform critical on-chain functions, which usually take place at regular time intervals (e.g., every day at the same time) or based on external events (e.g., when an asset hits a specific price).
Some of the notable features of Chainlink Automation include:
- Highly reliable, performant, and decentralized automation — Chainlink Automation ensures transactions are identified and confirmed quickly even during periods of heavy network congestion by leveraging Chainlink’s battle-tested transaction manager.
- Time-tested infrastructure that helps save costs — Chainlink Automation enables us to eliminate in-house automation infrastructure costs, reduce resources spent on DevOps, and increase speed and efficiency.
- Built to enable faster scaling — Chainlink Automation enables us to scale faster and avoid the challenges that come with building and maintaining the infrastructure needed to reliably automate across multiple chains.
- Unlocks new use cases — With smart contract automation, we’re able to explore new use cases and unlock capabilities that would otherwise not have been possible.
As a cross-chain platform, 3air intends to integrate Chainlink Automation on additional chains. Soon, 3air will also use Chainlink Price Feeds for secure, decentralized price data needed for 3air swaps and to help protect against potential exploits, such as a flash loan attack.
“We chose to integrate Chainlink Automation because it’s a highly reliable, performant, and low-cost automation solution. Automation removes friction for our new staking product and enhances our platform functionality, leading to an improved user experience,” says Sandi Bitenc, 3air CEO
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.
3air is a blockchain-based platform with the goal of bringing broadband connectivity and financial inclusion to the next billion users. Using proprietary K3 Last Mile technology, 3air delivers affordable, high-speed, and stable broadband internet, digital TV, and IP telephony to users. Once connected, 3air’s blockchain platform empowers users to become financially independent with easy access to digital services, identity management, payments, credit lines, and micro-loans.
Learn more about 3air by visiting 3air.io or reading our documentation at docs.3air.io. Follow our social media channels to join our community and get the latest updates.
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