LINK price feeds are finally live on Avalanche with the decentralized oracle network getting onboarded to the growing blockchain ecosystem as we can see more in our latest chainlink news today.
The LINK price feeds are now live on the AVAX mainnet which will bring price reference data to protocol developers across a variety of asset classes. Chainlink’s price feeds empower smart contract developers to create an advanced Defi application on the burgeoning Avalanche like the price-sensitive derivatives markets, low-cost lending applications as well as high-throughput trading strategies. The move to Avalanche was made possible via the Chainlink Community grant awarded to Protofire which is the leading development workshop and Avalanche validator who tested and implemented Chainlink oracles into the Avalanche blockchain.
As a result, plenty of Chainlink Price feeds are now available on the Avalanche mainnet with more plans to roll out new ones and meet the ecosystem demand. Emin Gun Sirer, the founder and CEO of Ava Labs said:
“Chainlink has set the standard for oracles and data across blockchains and decentralized applications. DeFi is already flourishing on Avalanche, but Chainlink’s data will unlock an enormous amount of development across the community and expand Avalanche’s edge as the most technologically advanced platform in crypto.”
DeFi developers on Avalanche can start testing and creating with the Chainlink price feeds using the documentation and the key-on chain functions can also be performed, including the collateralization rations, minting fair market loans, and setting exchange rates, and much, much more. In the meantime, some of the teams are already launching a Defi application on the protocol using Chainlink like the multichain middleware app BiFrost as its CEO Dohyun Pak said:
“By integrating Chainlink Price Feeds on both Ethereum and BSC, the BiFrost protocol ensures it has access to the most reliable, decentralized, and highest quality data.” He added: Chainlinks’ Avalanche expansion is exciting news for the greater DeFi space and will help secure the BiFrost platform as it scales to meet the demand for a multichain ecosystem.”
Chainlink is live on Avalanche Mainnet! Build smart contracts utilizing @Chainlink-powered decentralized oracle networks, to create highly scalable, low-cost dapps with strong security, reliability, and data quality. https://t.co/L11Drv37ps
— Avalanche (@avalancheavax) July 21, 2021
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