Chainlink (LINK) price feeds are now live on the Avalanche Mainnet, paving the way for powerful decentralized financial applications
Chain link (LINK) Price feeds are now live avalanche mainnet, which should help pave the way for advanced decentralized financial applications (DeFi).
Developers can now create externally connected smart contracts on the Avalanche Mainnet using Chainlink-based decentralized Oracle networks.
As mentioned in an update from Avalanche:
“We’re excited to announce that Chainlink Price Feeds are now live on the Avalanche Mainnet, giving ecosystem developers seamless access to the most secure, high-quality price reference data for a wide variety of asset classes.”
Chainlink’s industry-leading Price Feeds are designed to enable smart contract developers to build powerful DeFi apps on Avalanche’s “limitless” open source platform, including price sensitive derivatives markets, low cost credit applications and high throughput trading strategies.
As explained in a blog post, the integration was made possible by a Chainlink Community Grant, which was granted to. was awarded Protofire – a development workshop and an avalanche validator – the “Chainlink oracle has been natively adapted, tested and implemented in the Avalanche mainnet”.
Numerous Chainlink price feeds are now available on the Avalanche mainnet with plans to “introduce new ones to meet ecosystem demand” on an ongoing basis.
Chainlink Price Feeds provide “the longest-tested and most robust Oracle infrastructure for developers, along with world-class data quality that has been proven to be accurate and resistant to API failures, flash crash outliers and flash credit attacks.”
Emin Gun Sirer, Founder and CEO of Ava Labs, said:
“Chainlink has set the standard for oracles and data across blockchains and decentralized applications. DeFi is already thriving on Avalanche, but Chainlink’s data will unleash a tremendous amount of development across the community and build Avalanche’s lead as the most technologically advanced platform in the crypto space. “
DeFi developers on Avalanche can start testing and building apps with Chainlink price feeds by reading this documentation.
Application developers can use Chainlink Price Feeds to perform key on-chain functions such as “calculating collateral ratios, issuing fair market credits, setting exchange rates, pricing synthetic assets, rebasing algorithmic stablecoins and triggering automated trading strategies.”
As mentioned in the announcement, numerous Avalanche development teams are now launching their DeFi applications on Avalanche with Chainlink, including BENQI and BIFROST.
Dexter Lee, Co-founder of BENQI, stated:
“The launch of Chainlink on Avalanche is a tipping point that we believe will trigger the explosion of DeFi activity on the network. We are pleased to integrate Chainlink Price Feeds to maximize BENQI’s tamper protection and give us confidence in the security and integrity of our protocol. “
Dohyun Pak, CEO of BIFROST, remarked:
“Chainlink enables BiFrost to achieve end-to-end decentralization, which is crucial for DeFi protocols. By integrating Chainlink Price Feeds into both Ethereum and BSC, the BiFrost protocol ensures that it has access to the most reliable, decentralized, and high quality data. Chainlink’s Avalanche expansion is exciting news for the larger DeFi space and will help secure the BiFrost platform as it scales to meet the demand for a multi-chain ecosystem. “
By combining Avalanche and Chainlink, developers can create “highly scalable, cost-effective and universally connected DeFi applications with strong security, reliability and data quality guarantees”.