CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$24,416.00
  • ethereum
    ETH$1,983.99
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Opinions
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » Crypto News » Chainlink Brings Price Feed Data to Solana for Defi Support

    Chainlink Brings Price Feed Data to Solana for Defi Support

    Author: Andrew Throuvalas

    Last Updated Jun 3, 2022 @ 20:40

    Chainlink will provide live price data on Solana for Bitcoin, Ethereum, and USDC, with more cryptocurrencies to come. 

    Chainlink – a blockchain oracle platform – recently announced that its price feed technology has been launched on the Solana network. This information will help Solana defi developers use live price information for various financial services.

    • The oracle platform has announced that seven price feeds will be made available for Solana developers. These include BTC/USD, ETH/USD, and USDC/USD. More price feeds will be made available at later stages of the integration.
    • Multiple projects have already committed to using Chainlink’s tools, including lending protocol Apricot Finance, and yield farming aggregators Francium and Tulip.
    • Solana co-founder Anatoly Yakovenko believes the integration will be a boon to Solana’s dapp developers: “Chainlink’s launch on Solana will give defi developers access to the most widely used oracles in blockchain,” he said.
    • An “oracle” is an entity that bridges blockchain-based applications with external systems, providing data from the real world. Chainalysis, for example, provides an oracle for smart contracts to identify sanctioned blockchain addresses.
    • Price oracles are helpful defi tools, as they help determine appropriate lending and collateral rates between different cryptocurrencies.
    • A defi protocol on Terra Classic was recently exploited because its price oracle was reporting incorrect data for LUNC. This allowed the exploiter to seize $2 million in funds despite posting minimal collateral into the system.
    • Chainlink’s oracle was associated with some of the exploited dapps, but the error was believed to be a protocol side mistake.
    • The oracle platform’s co-founder Sergey Nazarov showed excitement about the integration, calling it a “major leap forward,” for the defi industry. His team is anticipating its role within the Solana ecosystem, taking note of Chainlink’s deep oracle network.
    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

    You Might Also Like:

    • defi
      Crypto Bloodbath Impact: DeFi TVL Sinks to Lowest Levels Since June 2021
    • Binance_Logo
      Binance Temporary Suspends Solana Withdrawals
    • Hacking
      Solana Exploit: $50 Million Stolen from Infinite Stablecoin Minting Glitch
    Tags: Chainlink Solana
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Andrew Throuvalas
    More posts by this author

    Andrew is a content writer with a passion for Bitcoin. He became familiar with Bitcoin back in 2013, but began diligently studying the blockchain technology and its economic implications in 2017. Ever since, he’s believed in the network’s power to replace the current global monetary system, and provide financial freedom to billions worldwide.
    Contact: LinkedIn | Twitter

  • bitcoin
    BTC$24,416.00
  • ethereum
    ETH$1,983.99
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    Will New Tokens be Airdropped to ETH Holders After Ethereum’s Hard Fork?

    Will New Tokens be Airdropped to ETH Holders After Ethereum’s Hard Fork?

    Cardano’s Vasil Hard Fork Explained: What to Expect from the Major Upgrade?

    Cardano’s Vasil Hard Fork Explained: What to Expect from the Major Upgrade?

    Users in Web3 Will Do a lot More Than Just Trade Crypto: Cronos’ Ken Timsit (Interview)

    Users in Web3 Will Do a lot More Than Just Trade Crypto: Cronos’ Ken Timsit (Interview)

    Institutions Are Starting to Buy Back: Interview with Nansen

    Institutions Are Starting to Buy Back: Interview with Nansen

    Top 5 Most Common Scams Related to Ethereum 2.0

    Top 5 Most Common Scams Related to Ethereum 2.0

    What is the Merge? What You Need to Know About the Transition to Ethereum 2.0

    What is the Merge? What You Need to Know About the Transition to Ethereum 2.0

    These are the Bear Market Benefits, and the Future of NFTs: DappRadar CEO (Interview)

    These are the Bear Market Benefits, and the Future of NFTs: DappRadar CEO (Interview)

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    Footer Logo
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!