The team at the advanced blockchain smart contracts platform Avalanche announced that Chainlink price feeds are now live on the Avalanche mainnet. This gives ecosystem developers seamless access to the safest, highest quality price reference data across a wide range of asset classes.
Chainlink’s Price Feeds enable smart contract developers to build advanced DeFi applications on Avalanche’s limitless open source platform; including price sensitive derivatives markets, low cost credit applications, high throughput trading strategies, and more.
The integration was made possible by a Chainlink Community Grant awarded to Protofire – a leading development workshop and avalanche validator – that natively adapted, tested and implemented the Chainlink oracle in the Avalanche mainnet.
Numerous Chainlink price feeds are currently available on the Avalanche mainnet and there are plans to continually introduce new ones to meet ecosystem demand. 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.
“Chainlink has set the standard for oracles and data across blockchains and dApps. DeFi is already thriving on Avalanche. But Chainlink’s data will unleash a tremendous amount of development across the community. and expand Avalanche’s lead as the most technologically advanced platform in the crypto sector. “
– Emin Gün Sirer, Founder and CEO of Ava Labs
Avalanche + chain link
Developers can use Chainlink price feeds to perform key on-chain functions such as calculating collateral ratios, imprinting fair market credits, setting exchange rates, pricing synthetic assets, rebasing algorithmic stablecoins, and triggering automated trading strategies.
In addition, a number of development teams are already launching their DeFi apps on Avalanche with Chainlink, including BENQI and BIFROST.
“The launch of Chainlink on Avalanche is a turning point; which we believe will trigger the explosion of DeFi activity on the network. We are pleased to incorporate Chainlink Price Feeds to maximize BENQI’s tamper protection. give us confidence in the safety and health of our protocol. “
– Dexter Lee, co-founder of BENQI
By combining Avalanche and Chainlink, developers can create highly scalable, inexpensive and universally connected DeFi apps. with strong guarantees for security, reliability and data quality.
Avalanche developers can start testing and creating Chainlink Price Feeds, see: docs.chain.link/docs/avalanche-price-feeds.
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