Chainlink (LINK) price feeds are now live on Avalanche | CryptoSlate

CryptoSlate

Chainlink ‘Price Feeds’ are now live on the Avalanche (AVAX) mainnet, bringing price reference data to protocol developers across a variety of asset classes, as per a release shared with CryptoSlate today.

Chainlink price feeds arrive on Avalanche

Chainlink’s Price Feeds empower smart contract developers to build advanced DeFi applications on the burgeoning Avalanche, such as price-sensitive derivatives markets, low-cost lending applications, high-throughput trading strategies, and other financial applications.

How To Get Free Crypto  

The move to Avalanche was made possible via a Chainlink Community Grant awarded to Protofire — a leading development workshop and Avalanche validator — who adapted, tested, and implemented Chainlink oracles natively into the Avalanche mainnet.

As a result, numerous Chainlink Price Feeds are now available on Avalanche mainnet, with plans to continually roll out new ones to meet ecosystem demand.

“Chainlink has set the standard for oracles and data across blockchains and decentralized applications,” says Emin Gün Sirer, founder and CEO of Ava Labs, in this regard.

He added, “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 technologically advanced platform in crypto.”

Coinbase Banner  

Developers start running the gears

DeFi developers on Avalanche can start testing and building with Chainlink Price Feeds using this documentation. Key on-chain functions can now be performed, including but not limited to, calculating collateralization ratios, minting fair market loans, setting exchange rates, pricing synthetic assets, rebasing algorithmic stablecoins, and triggering automated trading strategies.

Meanwhile, some Avalanche teams are already launching their DeFi applications on the protocol using Chainlink, such as the multichain ‘middleware’ app BiFrost. “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,” said Dohyun Pak, CEO of BiFrost. 

He added, “Chainlinks’ 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.”

Get an edge on the cryptoasset market

Access more crypto insights and context in every article as a paid member of CryptoSlate Edge.

On-chain analysis

Price snapshots

More context

Join now for $19/month Explore all benefits

Like what you see? Subscribe for updates.

Go to Source
Author: Shaurya Malwa


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.