Combination of world’s largest oracle network with high-speed blockchain to bring about new era in scalable DeFi
SAN FRANCISCO, June 3, 2022 /PRNewswire/ — Today, Chainlink Price Feeds, the industry standard price oracle networks for decentralized finance (DeFi) applications, have gone live on the Solana Mainnet. With this native integration, developers building on Solana can now leverage seven different Chainlink Price Feeds (including BTC/USD, ETH/USD, USDC/USD and others) for highly decentralized, high-quality, and near real-time price updates, enabling them to build a new realm of hybrid smart contract applications that provide superior performance around trade execution and risk management. In the coming months, hundreds of additional Chainlink Price Feeds, as well as other Chainlink oracle services, will be made available to Solana developers during the next stages of the integration.
“Chainlink’s launch on Solana will give DeFi developers access to the most widely used oracles in blockchain,” said Anatoly Yakovenko, co-founder of Solana. “Solana’s high-speed blockchain can deliver high-frequency pricing data to dapps, enabling developers to build new DeFi dapps and products.”
Securing tens of billions in total value across hundreds of applications on more than a dozen blockchains, Chainlink is the market-leading solution for highly accurate and tamper-proof market data and secure off-chain computation. Made up of independent, geographically distributed, Sybil-resistant oracle nodes run by world-class DevOps teams from organizations like Deutsche Telekom’s T-Systems, Swisscom, The Associated Press, LexisNexis, and more, the Chainlink Network now powers more than 980 oracle networks and has securely delivered more than 2.6 billion data points to on-chain applications since launch. With data sourced from premium, authenticated APIs through a three-tier aggregation system, Chainlink is trusted by some of the highest value DeFi apps in the blockchain industry, such as Aave, Compound, dYdX, Synthetix, Sushi, Nexus Mutual, and more.
“By providing the most reliable and highest quality data to the already lightning fast Solana blockchain, the Chainlink integration with Solana is a major leap forward for the kind of scalable, institutional-grade, DeFi applications that can be built only on Solana,” said Sergey Nazarov, co-founder of Chainlink. “Chainlink is now the most robust and comprehensive oracle network on the Solana blockchain, and we anticipate its role in the Solana ecosystem to expand as we integrate more price feeds and additional off-chain services.”
At launch, multiple popular Solana-based DeFi projects have committed to adopting Chainlink, including yield aggregation apps Francium and Tulip, lending protocol Apricot Finance, stablecoin UPFI, and others.
Yaniv Hou, co-founder and tech lead at Apricot Finance, said, “We chose to underpin our lending activity with Chainlink Price Feeds because of their unmatched security and proven performance. Now, Apricot can push the frontier of DeFi innovation on Solana while supported by the most secure, reliable, and time-tested market data solution available.”
In the coming months, Chainlink is expected to provide developers building on Solana access to hundreds of additional price feeds and datasets, as well as other popular Chainlink services such as Proof of Reserve for asset attestation, Keepers for event-driven and time-based automation, and Verifiable Random Function (VRF) for randomness, a service already used by hundreds of teams to fairly mint millions of NFTs.
Later this year, Chainlink also plans to launch the Cross-Chain Interoperability Protocol (CCIP), a new global standard for decentralized inter-blockchain messaging, data, and token movements. With CCIP, Solana users and developers will be able to move tokens and execute smart contracts across different blockchains through the use of the Chainlink oracle networks, enabling the creation of cross-chain applications.
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.
Solana is the most performant blockchain in the world. It gives developers the confidence to build for the long term by delivering predictable scaling without compromising security or composability. Solana’s performance is driven by intra-shard parallelism, which is capable of processing thousands of smart contracts at once, and by Proof of History, an innovation in cdistributed timekeeping that unlocks low-latency, sub-second finality across the global state. To learn more, please visit https://solana.com/.