Blockchain oracle platform Chainlink has announced the launch of their cost eats the Solana blockchain. The combination enables decentralized finance (DeFi) developers to make use of the feeds inside their decentralized applications (DApps).
Within an announcement delivered to Cointelegraph, the blockchain oracle platform notes that upon launch, seven cost feeds is going to be open to Solana developers, including BTC/USD, ETH/USD and USDC/USD. In the later stages from the integration, more Chainlink oracle services and cost feeds is going to be provided.
Anatoly Yakovenko, co-founding father of Solana, believes the Chainlink integration can help developers building DeFi-based DApps on Solana. “Chainlink’s launch on Solana can give DeFi developers accessibility most broadly used oracles in blockchain,” he stated.
Chainlink co-founder Sergey Nazarov also expressed his excitement within the integration. Nazarov noted that Chainlink includes a comprehensive oracle network which its team is anticipating its role within the Solana ecosystem. He described the combination as “a major leap forward” for DeFi.
When Chainlink will get integrated, Solana-based projects have dedicated to while using cost feeds for his or her products. Yield aggregators Francium and Tulip and lending protocol Apricot Finance are among individuals which will rely on them.
Earlier in May, LaProp integrated Chainlink to power its real-estate platform, which lets investors purchase tokenized shares of rental qualities. Through Chainlink’s functions, rental payments is going to be automated and given to tokenholders inside the platform.
Meanwhile, among the Terra market fiasco, DeFi protocols reported losses from exploits caused by a cost feed discrepancy inside the Luna Classic (LUNC) oracle as Chainlink stopped the LUNA cost feed. However, a residential area member believes the losses result from negligence in the protocols’ side.