Chainlink launches price feeds on Solana to provide data to DeFi developers

Blockchain oracle platform Chainlink has introduced the launch of its value feeds on the Solana blockchain. The mixing permits decentralized finance (DeFi) builders to make use of the feeds inside their decentralized functions (DApps). 

In an announcement despatched to Cointelegraph, the blockchain oracle platform notes that upon launch, seven value feeds will likely be obtainable to Solana builders, together with BTC/USD, ETH/USD and USDC/USD. On the later levels of the combination, extra Chainlink oracle companies and value feeds will likely be made obtainable.

Related articles

Hector Swap: A revolutionary DeFi swap aggregator

2023-04-13

Fantom: Though DeFi-friendly measures show results, FTM remains in limbo

2023-04-11

Anatoly Yakovenko, co-founder of Solana, believes the Chainlink integration will assist builders constructing DeFi-based DApps on Solana. “Chainlink’s launch on Solana will give DeFi builders entry to probably the most broadly used oracles in blockchain,” he stated.

Chainlink co-founder Sergey Nazarov additionally expressed his pleasure over the combination. Nazarov famous that Chainlink has a complete oracle community and that its workforce is anticipating its position within the Solana ecosystem. He described the combination as “a serious leap ahead” for DeFi.

As quickly as Chainlink will get built-in, Solana-based tasks have dedicated to utilizing the value feeds for his or her merchandise. Yield aggregators Francium and Tulip and lending protocol Apricot Finance are amongst these that may use them.

Associated: Blockchain and oracles may help clear power transition, examine claims

Earlier in Could, LaProp built-in Chainlink to energy its real-estate platform, which lets buyers buy tokenized shares of rental properties. By way of Chainlink’s features, rental funds will likely be automated and distributed to tokenholders inside the platform.

In the meantime, amid the Terra market fiasco, DeFi protocols reported losses from exploits ensuing from a value feed discrepancy inside the Luna Traditional (LUNC) oracle as Chainlink paused the LUNA value feed. Nevertheless, a group member believes that the losses are on account of negligence from the protocols’ aspect.