Chainlink announced that its price feeds are now available on the Solana blockchain the integration will be beneficial to DeFi developers building on the platform.
According to a press release, the blockchain oracle platform will make seven price feeds available to Solana developers at launch, including BTC/USD, ETH/USD, and USDC/USD. More Chainlink oracle services and price feeds will be made accessible as the integration progresses.
The Chainlink connection, according to Anatoly Yakovenko, co-founder of Solana, will aid developers in creating DeFi-based DApps on Solana.
“DeFi developers will have access to the most extensively used oracles in blockchain with Chainlink’s deployment on Solana,” he said.
Sergey Nazarov, a co-founder of Chainlink, was equally ecstatic with the integration. Chainlink has a large oracle network, according to Nazarov, and its staff is looking forward to its position in the ecosystem. He called the merger “a significant step forward” for DeFi.
Solana-based projects have pledged to adopt the pricing feeds for their products as soon as Chainlink is implemented. Francium and Tulip, yield aggregators, and Apricot Finance, a lending protocol, are among the companies that will use them.
LaProp integrated Chainlink into its real-estate platform earlier this month, allowing investors to buy tokenized shares of rental properties. Rental payments will be managed and dispersed to token holders within the platform.
Meanwhile, as Chainlink suspended the LUNA price feed, DeFi protocols reported losses from exploits arising from a price feed difference within the Luna Classic (LUNC) oracle. However, one member of the community feels that the losses are the result of protocol failure.