Chainlink’s price feed currently living on Fantom Opera mainnet, according to Chainlink developer team Smart Contracts in a release for livetechit today. This native integration is possible thanks to level for block 42 through the Chainlink Community Funding Program.
Chain link to feed on Fantom
DeFi smart contracts on the Fantom mainnet can combine these Chainlink-powered decentralized oracles to create a high-quality, tamper-proof, and low-latency financial market feed. If you are a developer building on Fantom and want to connect your smart contract to the Chainlink Price Feed, please refer to the following documentation: https://docs.chain.link/docs/fantom-price-feeds/.
Initial integration involved the launch of the following Chainlink Price Feed: AAVE/USD, BNB/USD, BTC/USD, CREAM/USD, DAI/USD, ETH/USD, FTM/USD, LINK/USD, SNX/USD, SUSHI/USD, USDC/USD and USDT/USD.
With historical reliability, high levels of security, and optimization for broad market coverage across all price data, we recommend any Fantom developer in need of financial market information to Consider Chainlink’s feats.
The Chainlink price feed has proven resilient during extreme market volatility and network instability, including centralized infrastructure outages, flash crashes, and other events. data manipulation attacks.
Why did the developers choose this?
Building with Chainlink on Fantom’s EVM-compatible, low-cost, and highly scalable blockchain allows developers to still receive high-quality data and decentralized security while achieving improvements. advances in performance and cost-effectiveness.
Developers can use the Chainlink Price Feed to perform a variety of DeFi functions on Fantom, including to enable supply throttling in algorithmic stablecoins, settle futures contracts, and options, determine exact staking rewards in liquidity pools, calculate collateral rates in lending and borrowing protocols, and much more.
Chainlink price feed arrives as activity on Fantom DeFi protocols soars. As of mid-August 2021, Total Locked Value (TVL) on Fantom is over $380 million, significantly higher than at the beginning of the year.
Benefits of Fantom
Users and developers are turning to Fantom to take advantage of the last 1 second transaction, and transaction fees are consistently low, averaging under a cent, regardless of volume on the network.
Fantom’s EVM compatibility makes it easy for developers to migrate their smart contracts to Fantom and allows users to access Fantom dApps through well-known wallets like MetaMask.
These factors, along with Fantom’s offering of liquid staking on its streamlined wallet, are just some of the driving forces behind the platform’s growing popularity.
The end result is that Fantom and Chainlink have empowered a new wave of innovation in the blockchain industry around high-throughput DeFi applications with near-zero transaction fees, one-second authenticity, and the ability to global connectivity with premium data.
Michael Kong, Fantom CEO said: “We are excited to start a new wave of Scalable DeFi development on Fantom with support from the widely adopted Chainlink Price Feed for high quality, tamper-proof data with low latency”.
He added, “With Chainlink’s extensive collection of Price feeds, Fantom developers now have the ability to rapidly develop and scale their DeFi products and services while users receive best in terms of security, reliability, and usability.”
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