Solana Ecosystem (SOL) integrates Chainlink's price oracles

Solana Devnet integrates Chainlink oracles

The Solana Network (SOL) has announced support for Chainlink (LINK)oracles. Chainlink’s price streams are initially available on Solana Devnet, a network that allows developers to build applications in low-stakes test environments. The Solana team says integration with mainnet will be rolled out before the end of Q4 2021.

Anatoly Yakovenko, founder and CEO of Solana Labs, believes the integration will be particularly beneficial:

“The combination of a high-quality oracle infrastructure and the Solana network can enable DeFi applications to scale globally.»

By integrating Chainlink’s oracles, developers in the Solana ecosystem can build and test high-performance decentralized applications using an on-chain dataset of cryptocurrencies, commodities, exchange rates and other asset classes.

Eventually, this integration with the Chainlink network will evolve to provide Solana developers with a wider range of data, including off-chain.

SOL token in the top 10

Recently, Solana entered the top 10 largest cryptocurrencies in terms of capitalization with nearly $25.2 billion. SOL’s price is up by more than 10% over the last 7 days, which incidentally has it at a new all-time high of $87.

In addition, the total value locked in (TVL) on Solana has reached a new all-time high of over $2.7 billion. The most prominent applications include the decentralized exchange (DEX) Raydium (RAY) and the automated market maker (AMM) Saber (SBR).

TVL Solana

Total value locked in Solana’s DeFi applications – Source: Solana Project

Related content: Aleph.im (ALEPH) launches an indexing solution for the Solana blockchain (SOL)

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About the author : Florent David

Solana Ecosystem (SOL) integrates Chainlink's price oracles

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Engaged in the crypto ecosystem since 2017. I am particularly interested in decentralized finance (DeFi), Ethereum 2.0 and non-fungible tokens (NFT).
All articles by Florent David.