The leading decentralized platform for DApp launching and enterprise-level blockchain deployments, Avalanche is overwhelmed as Chainlink Price Feeds go live on Avalanche Mainnet as a part of its latest collaboration.
With this, developers will get swift access to secure and quality-inspired reference data figures for many digital asset products. The partnership could exist only when a Chainlink Community Grant was rewarded to Protofire, an Avalanche validator. He adapted, tested, and infused the oracles into the Avalanche ecosystem.
A variety of price feeds are made available on Avalanche mainnet in the initial stage, with the firm adamant about releasing new feeds on the portal in the future to suit the needs of the investors. Avalanche developer teams like BENQI and BIFROST are set to launch DeFi products on Avalanche through Chainlink.
Interestingly, Chainlink stands tall at the forefront as a high-potential, reliable, and transparent oracle chain. The price feeds offered by Chainlink aid smart contract developers to design technologically advanced DeFi applications on Avalanche quickly. Investors looking for market information, price trends, economic lending tools, derivatives market conditions, and other trading strategies can now do so with Chainlink’s price feed data.
Talking about the partnership, the Founder and CEO of Ava Labs, Emin Gün Sirer, stated that with Chainlink, the team would expand the DeFi cluster. The users will get access to reliable data through oracles. The integration will help to place Avalanche as a strong player in the crypto sphere.
Unlike other oracle networks, Chainlink Price Feeds are known to provide a revolutionary oracle infrastructure to meet the requirements of the developers. The superior data quality is reliable and safe from API downtime, flash loan intrudes, and flash crashes. The data can be used for a plethora of crucial functions like calculating collateral ratios, fixing exchange rates, cracking fair market loans, pricing synthetic assets, and facilitating automated trading operations. The developers can create customized, low-cost, and scalable DeFi products infused with security and quality content.