The blockchain oracle platform Chainlink (LINK) has announced the launch of its Solana (SOL) blockchain price feeds. The integration allows decentralized finance (DeFi) developers to use the feeds within their decentralized applications (DApps).
In an announcement sent to Cointelegraph, the blockchain oracle platform noted that at its launch, seven price feeds will be available to Solana developers initially. This includes price feeds for BTC/USD, ETH/USD, and USDC/USD. In the later stages of the integration, more Chainlink price feeds and oracle services will be available on the Solana blockchain.
Anatoly Yakovenko, the co-founder of Solana, believes that the Chainlink integration will help developers who are building DeFi-based DApps on Solana. “Chainlink’s launch on Solana will give DeFi developers access to the most widely used oracles on the blockchain,” Yakovenko said.
Chainlink co-founder, Sergey Nazarov also expressed his enthusiasm for the integration. Nazarov noted that Chainlink has a vast network of oracles and that the Chainlink team is anticipating its role in the Solana ecosystem.. He described the integration as “a huge leap forward” for DeFi.
As soon as Chainlink is integrated, Solana-based projects have committed to using price feeds for their products. Yield aggregator Francium and Tulip and lending protocol Apricot Finance are among those that will use Chainlink within Solana.
Earlier in May, LaProp integrated Chainlink to power its real estate platform that allows investors to buy tokenized shares of rental properties. Through Chainlink features, rental payments will be automated and distributed to token holders within the platform.
In the meantime, Amid the Terra market fiasco, DeFi protocols reported losses due to exploits for a price feed discrepancy within the Luna Classic (LUNC) oracle, as Chainlink paused the LUNA price feed. However, a member of the community believes that the losses are due to negligence on the part of the protocols.
Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
Keep reading:
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the full amount invested may be lost. The services or products offered are not aimed at or accessible to investors in Spain.
