Chain link ‘Price Feed’ is now available on Avalanche (AVAX) mainnet, which brings price reference data to protocol developers across a variety of assets, according to a release shared with livetechit today.
Chainlink price feed to Avalanche
Chainlink’s price feed empowers smart contract developers to build DeFi Applications on Avalanche are growing, such as price-sensitive derivatives markets, low-cost lending applications, high-throughput trading strategies, and other financial applications.
Online Chainlink on Avalanche Mainnet! Build smart contracts using @Chain link-Permissioned decentralized oracle networks, to create low-cost, highly scalable dapps with strong security, reliability, and data quality. https://t.co/L11Drv37ps
– Avalanche (@avalancheavax) July 21, 2021
The move to Avalanche was made possible through the Chainlink Community Funding given to Protofire – a leading developer workshop and Avalanche validator – who adapted, tested, and implemented Chainlink calls at the very beginning of the Avalanche mainnet.
As a result, multiple Chainlink Price Feeds are now available on the Avalanche mainnet, with plans to continuously roll out new Feeds to meet the needs of the ecosystem.
Emin Gün Sirer, founder and CEO of Ava Labs, said: “Chainlink has set the standard for miracles and data across blockchains and decentralized applications.
He added, “DeFi has thrived on Avalanche, but Chainlink’s data will unleash a tremendous amount of community-wide growth and expand Avalanche’s advantage as the most technologically advanced platform in crypto. death.”
The developers started running the gears
DeFi developers on Avalanche can start testing and building with the Chainlink Price Feed using this document. Key on-chain functions can now be performed, including but not limited to, calculating mortgage rates, creating fair market loans, setting exchange rates, valuing aggregated assets , recover algorithmically stablecoins and enable automated trading strategies.
Meanwhile, a number of Avalanche teams have launched their DeFi applications on top of the Chainlink-using protocol, such as the BiFrost multicast ‘middleware’ application. “By integrating the Chainlink Price Feed on both Ethereum and BSC, the BiFrost protocol ensures it has access to the most trusted, decentralized data,” said Dohyun Pak, CEO of BiFrost. and the highest quality.
He added, “The expansion of Chainlinks’ Avalanche is exciting news for the larger DeFi space and will help secure the BiFrost platform as it scales to meet the need for a multi-pronged ecosystem. ”
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