Chainlink hits $23 billion in Total Value Secured amid a hectic week of exciting integrations.
A Multi-Chain Expedition
Chainlink continues its mission to integrate new protocols across the blockchain universe. The industry standard and chain-agnostic oracle network expanded its services on Arbitrum, Avalanche, BNB Chain, Ethereum, Optimism, and Polygon.
In this week’s roundup:
Bolstering 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 vest 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 considered. We’re excited to use Chainlink Keepers to help automate our token locking process, and Chainlink Price Feeds to help display accurate token prices, ” said B, Core Contributor at Floki.
Check out our full article by Nick S regarding the integration.
Three Birds, One Stone
Zeus Finance integrated Chainlink Keepers, Price Feeds, and VRF to power its decentralized financial suite.
- Keepers automates rewards distribution within the staking suite,
- Price Feeds help convert prices for accurate fee estimations, and
- VRF supports randomized airdrops of the ZEUS token.
“Chainlink was the obvious choice for us. Chainlink trust-minimized services are the industry standard for DeFi and help make our platform as robust as possible,” said Frank, CEO at Zeus Finance. “Chainlink Price Feeds, Chainlink Keepers, and Chainlink VRF all work in tandem to give our users a consistent and transparent experience.”
The DeFi suite also plans to use Chainlink to support other upcoming features, like automating bonding rewards and randomizing the airdrops of an NFT collection centered on Greek Mythology.
Integrating a Liquidity Hub
KyberSwap integrated Chainlink Price Feeds to facilitate its DeFi and DAO operations.
Kyber Network integrated the price feeds on Arbitrum, Avalanche, BNB Chain, Ethereum, Optimism, and Polygon. This will help ensure 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 distribution of rewards. We’re excited to continue using Chainlink to support developers, traders, and liquidity providers across the multi-chain DeFi ecosystem,” said Victor Tran, CEO of Kyber Network.
Here’s how KyberSwap is integrating Chainlink Price Feeds:
- Chainlink provides KNC price data to DeFi lending platforms. This enables lending platforms like QiDAO, Benqi, and Aave to support $KNC as a collateral type.
- KyberDAO is using the KNC/USD and KNC/ETH Price Feeds.
- Kyber is running a Chainlink node to help secure their oracle network.
Iron Bank integrated Chainlink Price Feeds on Optimism.
The decentralized lending platform recently launched on Optimism, a low-cost Ethereum layer-two blockchain. This integration will help ensure that users’ collateralization ratios are based on accurate, tamper-proof market data.
“To ensure accurate pricing, we’re using Chainlink Price Feeds. As one of the industry’s leading and most 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 on their blog.
Check out BSC News’ weekly roundup to keep up with the latest regarding the smart contract powerhouse.
Last four editions:
What Is Chainlink:
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries and offers global enterprises and leading data providers a universal gateway to all blockchains.
Where to find Chainlink:
What Is Floki:
Floki is the people’s cryptocurrency and a project that aims to disrupt the crypto industry by providing solid utility while leveraging the power of memes to ensure mainstream appeal and adoption.
Where to find Floki:
What Is Zeus Finance:
Zeus Finance is a decentralized financial suite built on the Avalanche Network. Its primary focus is on providing a DeFi-as-a-Service (DaaS) protocol to the community and then expanding into a platform that offers a safe place to store capital.
Where to find Zeus Finance:
What Is Kyber Network:
Kyber Network is building a world where any token is usable anywhere. KyberSwap, the flagship Decentralized Exchange (DEX) aggregator and liquidity platform, intends to provide the best rates for traders in DeFi and maximize returns for liquidity providers.
Where to find 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 crypto-assets.
Where to find Iron Bank: