Chainlink (LINK) Price Feeds Now Live on Avalanche Mainnet, Paving Wave for High-Performance Decentralized Finance Apps

Chainlink (LINK) price feeds are now live on Avalanche mainnet, which should help pave the wave for advanced decentralized finance (DeFi) apps.

Developers are now able to create externally connected smart contracts on Avalanche mainnet by utilizing Chainlink-based decentralized Oracle networks.

As noted 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 and highest quality price reference data across a variety of asset classes.”

Chainlink’s industry-leading Price Feeds are designed to empower smart contract developers to create high-performance DeFi apps on Avalanche’s “limitless” open-source platform, including price-sensitive derivatives markets, low-cost lending applications, and high-throughput trading strategies.

As explained in a blog post, the integration has been made possible by a Chainlink Community Grant awarded to Protofire — a development workshop and Avalanche validator — which “adapted, tested, and implemented Chainlink oracles natively into the Avalanche mainnet.”

Numerous Chainlink Price Feeds are now available on Avalanche mainnet, with plans to continually “roll out new ones to meet ecosystem demand.”

Chainlink Price Feeds offer “the most time-tested and robust oracle infrastructure for developers, along with premium data quality that’s proven to be precise and resistant to API downtime, flash crash outliers, and flash loan attacks.”

Emin Gün Sirer, Founder and CEO of Ava Labs, stated:

“Chainlink has set the standard for oracles and data across blockchains and decentralized applications. DeFi is already flourishing on Avalanche, but Chainlink’s data will unlock an enormous amount of development across the community and expand Avalanche’s edge as the most technically advanced platform in crypto.”

DeFi developers on Avalanche can begin testing and creating apps with Chainlink Price Feeds by reviewing this documentation.

Application developers are able to use Chainlink Price Feeds to carry out key on-chain functions such as “calculating collateralization ratios, minting fair market loans, setting exchange rates, pricing synthetic assets, rebasing algorithmic stablecoins, and triggering automated trading strategies.”

As noted in the announcement, numerous Avalanche developer teams are now launching their DeFi applications on Avalanche using Chainlink, including BENQI and BIFROST.

Dexter Lee, Co-Founder BENQI, stated:

“The launch of Chainlink on Avalanche is a watershed moment which we believe will spark the explosion of DeFi activity on the network. We are excited to integrate Chainlink Price Feeds to maximize the tamper-resistance of BENQI, giving us confidence in the security and health 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 on both Ethereum and BSC, the BiFrost protocol ensures it has access to the most reliable, decentralized, and highest quality data. Chainlink’s Avalanche expansion is exciting news for the greater DeFi space and will help secure the BiFrost platform as it scales to meet the demand for a multichain ecosystem.”

By combining Avalanche and Chainlink, developers are able to create “highly scalable, low-cost, and universally connected DeFi applications with strong security, reliability, and data quality guarantees.”

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