Chainlink now live on Avalanche to enable advanced DeFi apps
The team of advanced blockchain smart contracts platform Avalanche has announced that Chainlink Price Feeds are now live on the Avalanche mainnet. This offers ecosystem developers seamless access to the most secure and highest quality price reference data across a variety of asset classes.
Chainlink’s Price Feeds empower smart contract developers to build advanced DeFi applications on Avalanche’s limitless open-source platform; including price-sensitive derivatives markets, low-cost lending applications, high-throughput trading strategies, and more.
The integration was made possible by 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.
Numerous Chainlink Price Feeds are currently available on Avalanche mainnet, and the plan is 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.
“Chainlink has set the standard for oracles and data across blockchains and dApps. 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.”
– Emin Gün Sirer, Founder and CEO of Ava Labs
Avalanche + Chainlink
Developers can use Chainlink Price Feeds to perform key on-chain functions like calculating collateralization ratios, minting fair market loans, setting exchange rates, pricing synthetic assets, rebasing algorithmic stablecoins, and triggering automated trading strategies.
Moreover, a number of developer teams are already launching their DeFi apps on Avalanche using Chainlink, including BENQI and BIFROST.
“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.”
– Dexter Lee, Co-Founder of BENQI
By combining Avalanche and Chainlink, developers can build highly scalable, low-cost, and universally connected DeFi apps; with strong security, reliability, and data quality guarantees.
Developers on Avalanche can start testing and building with Chainlink Price Feeds, see: docs.chain.link/docs/avalanche-price-feeds.