Leading blockchain oracle platform Chainlink has launched its price feed on Solana to support developers building decentralized finance (DeFi) applications on the network.
Solana Builders to Access Chainlink Price Feeds
In an official press release, Chainlink noted that seven of its price feeds, including BTC/USD, ETH/USD, and USDC/USD, can now be accessed by Solana developers to build hybrid smart contract-enabled applications.
The project also plans to add more price feeds coupled with other services like Proof of Reserve, Keepers, and Verifiable Random Function (VRF) on Solana in the future.
Since its launch in 2019, Chainlink has offered its oracle services to many leading industry projects including Aave, Compound, Sushi, and dYdX, as well as non-crypto companies like the Associated Press and AccuWeather.
The platform aims to extend its services to as many blockchains as possible by connecting smart contracts with live-price data and real-world events in a highly reliable manner.
As a blockchain platform leveraging the Ethereum network to provide its services, Chainlink has become the first Ethereum Virtual Machine (EVM) chain to launch on Solana.
Speaking about the development, Solana’s co-founder, Anatoly Yakovenko, noted that Chainlink’s launch on the network will help developers integrate world-class pricing data on DeFi.
“By providing the most reliable and highest quality data to the already lightning-fast Solana blockchain, the Chainlink’s integration with Solana is a major leap forward for the kind of scalable, institutional-grade, DeFi applications that can be built only on Solana,” he said.
Solana-Based Crypto Projects Adopt Chainlink
Yakovenko also stated that the blockchain oracle platform is the most powerful and comprehensive project on the Solana network right now.
Following its launch, Solana-based projects, including Apricot Finance, UPFI, Francium, and Tulip, showed great support and adopted the Chainlink price feeds.
Yaniv Hou, co-founder and tech lead at Apricot Finance, noted that the platform can now promote DeFi innovations fully supported by the most secure and time-tested market data solution available.
“We chose to underpin our lending activity with Chainlink Price Feeds because of their unmatched security and proven performance,” Hou said.