Chainlink reaches $23 billion in total value secured amid a hectic week of exciting integrations.
A multi-chain expedition
chain link continues its mission to integrate new protocols into the blockchain universe. The chain-independent, industry-standard oracle network extended its services decision, Avalanche, BNB Chain, Ethereum, optimismi Polygon.
In this week’s recap:
Reinforcing Floki’s meme culture
Floki integrated Chainlink Keepers and Price Feeds to help power FlokiFi Locker.
Floki uses Chainlink Keepers to automate the token locking process and Price Feeds to display token locking prices. The locker allows users to lock and store LP tokens, fungible tokens and NFTs for up to 420 years.
“As an innovative DeFi protocol that prioritizes security, decentralization and transparency, the industry-leading Chainlink is the default oracle network we’ve considered. We’re excited to use Chainlink Keepers to help automate our blockchain process tokens and Chainlink’s price feeds to help display accurate token prices,” he said. BMain contributor to Floki.
Check out our full article by Nick S on integration.
Three birds, one stone
Zeus Finance integrated Chainlink Keepers, Price Feeds and VRF to power its decentralized finance suite.
Keepers automates reward distribution in the staking suite, price feeds help convert prices for accurate fee estimates, and VRF supports random releases of the ZEUS token. “Chainlink was the obvious choice for us. Chainlink’s trust services are the industry standard for DeFi and help make our platform as robust as possible,” said Zeus CEO Frank finance “Chainlink Price Feeds, Chainlink Keepers and Chainlink VRF work together to provide our users with a consistent and transparent experience.”
The DeFi suite also plans to use Chainlink to support other upcoming features, such as automating link rewards and randomizing airdrops of an NFT collection centered around Greek mythology.
Integration of a liquidity center
KyberSwap integrated Chainlink Price Feeds to facilitate its DeFi and DAO operations.
Kyber Network integrated price sources on Arbitrum, Avalanche, BNB Chain, Ethereum, Optimism and Polygon. This will help ensure that KyberSwap rewards are reliably distributed to KyberDAO members.
“Chainlink price feeds underpin the DeFi economy with highly secure, reliable and decentralized market data, including on KyberDAO, where they facilitate our reward distribution. We are excited to continue using Chainlink to support developers, merchants and providers liquidity of the multi-chain DeFi ecosystem,” he said. Victor TranCEO of Kyber Network.
Here’s how KyberSwap integrates Chainlink’s pricing channels:
Chainlink provides KNC pricing data to DeFi lending platforms. This allows lending platforms like QiDAO, Benqii ghost support $KNC as a type of guarantee. KyberDAO uses the KNC/USD and KNC/ETH price feeds. Kyber is running a Chainlink node to help secure its oracle network.
Iron Bank integrated Chainlink Price feeds on Optimism.
The decentralized lending platform was recently launched on Optimism, a low-cost Ethereum second-layer blockchain. This integration will help ensure that users’ collateral ratios are based on accurate and tamper-proof market data.
“To ensure accurate pricing, we use Chainlink pricing channels. As one of the industry’s leading and well-known market data solution providers, they have helped secure tens of billions of dollars in value for leading DeFi protocols across multiple chains,” the Iron Bank team said in its blog.
Check out the weekly BSC News digest to stay up to date on the latest on the power of smart contracts.
Last four editions:
What is Chainlink:
Chainlink is the industry standard for building, accessing and selling the oracle services needed to power hybrid smart contracts on any blockchain. Oracle Chainlink networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations to enable feature-rich applications. Currently, Chainlink secures tens of billions of dollars across DeFi, insurance, gaming and other major industries and provides global companies and leading data providers with a universal gateway to all blockchains.
Where to find Chainlink:
What is Floki:
Floki is the popular cryptocurrency and a project that aims to disrupt the crypto industry by providing solid utility while harnessing the power of memes to ensure widespread appeal and adoption.
Where to find Floki:
What is Zeus Finance:
Zeus Finance is a decentralized finance suite built on the Avalanche Network. Its main focus is to provide a DeFi-as-a-Service (DaaS) protocol to the community and then expand into a platform that provides a secure place to store capital.
Where to find Zeus Finance:
What is Kyber Network:
Kyber Network is building a world where any token can be used anywhere. KyberSwapthe flagship decentralized exchange (DEX) aggregator and liquidity platform, intends to offer the best rates to DeFi traders and maximize returns for liquidity providers.
Where to find the Kyber network:
What is Iron Bank:
Iron Bank is a decentralized lending platform focused on capital efficiency, allowing protocols and individuals to supply and borrow cryptoassets.
Where to find Iron Bank: