Oracle blockchain platform Chainlink (LINK) has announced the launch of its price feeds with Solana blockchain (SOL). The integration allows decentralized finance (DeFi) developers to deploy flows within their decentralized applications (DApps).
In an announcement sent to Cointelegraph, oracle announced a blockchain platform that will launch seven price streams for Solana developers at launch. This includes price feeds for BTC / USD, ETH / USD, and USDC / USD. In later stages of integration, more oracle Chainlink services and price feeds will be available on the Solana blockchain.
Satna co – founder Anatoly Yakovenko believes Chainlink integration will help developers build DeFi – based DApps on Solana. ” Chainlink’s launch of Solana will allow DeFi developers to access the most used oracles in the blockchain said Yakovenko.
Chainlink co – founder Sergey Nazarov also expressed his excitement about the integration. Nazarov noted that Chainlink has a comprehensive oracle network and Chainlink’s team looks forward to its role in the Solana ecosystem. He described integration as ” big jump forward for Defi.
Once Chainlink is integrated, Solana – based projects are committed to using price feeds for their products. Francium and Tulip yield aggregator and the Apricot Finance loan protocol are among those used by Chainlink in Solana.
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Earlier in May, LaProp integrated Chainlink to power its real estate platform, allowing investors to buy tokenized shares of rental property. Using Chainlink functions, rental payments will be automated and distributed to deposit holders within the platform.
Meanwhile, amid the Terra market fiasco, DeFi protocols reported exploit losses due to price feed diversification within the Luna Classic (LUC) oracle, with Chainlink pausing the LUNA feed price. However, a member of the public believes that the losses are due to negligence on the part of protocol.