Chainlink, the leading Web3 services platform, has announced the integration of its smart contract automation service on Optimism, a fast and scalable Layer-2 blockchain.
Chainlink Automation is a decentralized and highly performant automation service that allows developers to monitor smart contracts using it’s decentralized node network and trigger key functions based on predefined conditions.
This further reduces the need for manual intervention and increases the reliability and efficiency of DeFi applications.
Early Adopters of Chainlink Automation on Optimism
Several projects have already integrated Chainlink Automation on Optimism, including:
- BarnBridge, a protocol for tokenizing risk
- DeFiEdge, a platform for decentralized derivatives
- Lyra, a protocol for options trading
- Pickle Finance, a protocol for yield optimization
These projects use Chainlink Automation to activate crucial smart contract processes on Optimism, including parameter updates, token rebasing, contract settlement, and more.
Smit Vachhani, Head of DeFi Partnerships at OP Labs, stated:
“With the native integration of Chainlink Automation’s smart contract automation service, developers can build advanced features and unlock new use cases that help grow the Optimism ecosystem.”
About Optimism
Optimism is a Layer-2 solution that leverages optimistic rollups to increase transaction throughput and reduce costs for Ethereum-based applications. Optimism also integrated Chainlink’s market-leading Price Feeds in September 2021, contributing to the platform’s rapid growth.
By combining Optimism’s scalability and Chainlink’s automation, developers can create more powerful and user-friendly DeFi applications end-to-end decentralized DeFi applications.
Johann Eid, VP of Go-To-Market at Chainlink Labs, said:
“We’re pleased to support the Optimism ecosystem with the native integration of Chainlink Automation, enabling developers to build highly scalable smart contract applications that are decentralized end-to-end. By integrating Chainlink Automation, Optimism developers can build more advanced applications that help drive adoption of smart contract technology over the long term.”
Chainlink’s successful implementation of Chainlink Price Feeds in September 2021 has played a pivotal role in Optimism’s rapid expansion.
More so, with the introduction of Chainlink Automation, developers can now benefit from the same reliable and performant decentralized network of time-tested node operators that Chainlink Price Feeds have used to safeguard billions of dollars.
This collaboration reinforces Optimism’s commitment to providing holistic smart contract automation capabilities to developers.
Furthermore, GMX, the largest decentralized perpetual exchange operating on Arbitrum and Avalanche, has announced its partnership with Chainlink as a launch partner for Chainlink’s low-latency oracles.
This partnership demonstrates the industry recognition of Chainlink’s leading position as a Blockchain Industry Service Provider.
By introducing Chainlink Automation on Layer-2 Optimism, Chainlink has paved the way for developers to create more complex dApps while benefiting from the scalability and reliability provided by the Optimism ecosystem.
In addition, this integration also improves the developer experience and brings us closer to a future where blockchain-based applications can thrive and cater to a growing user base.
To learn more about Chainlink Automation and Optimism, visit their websites:
