Market Analysis

Solana Integrates Chainlink Price Oracles on Mainnet

Key Takeaways

  • Solana has integrated Chainlink’s decentralized price feeds on its mainnet.
  • The integration will allow Solana developers to leverage reliable, near real-time price feeds from Chainlink’s decentralized oracles to build superior DeFi apps.
  • Developers will initially be able to access only seven different price feeds, with hundreds more to come in the coming months.

Chainlink announced today that its decentralized price oracles have become available on Solana, initially allowing developers to source reliable, real-time price data for seven different trading pairs, with hundreds more to come in the coming months.

Chainlink Price Fees Go Live On Solana

Developers on the high-throughput blockchain are getting another tech lego to build with.

The leading oracle provider announced in a Friday press release that its price oracle networks had gone live on the Solana Mainnet. To begin with, developers will be able to leverage seven different Chainlink price feeds, including ones for the BTC/USD, ETH/USD, and USDC/USD trading pairs, to build superior decentralized applications on the blockchain. Hundreds of price feeds will additionally become available in the coming months.

Commenting on the integration, the co-founder of Chainlink, Sergey Nazarov, said: 

“By providing the most reliable and highest quality data to the already lightning-fast Solana blockchain, the Chainlink integration with Solana is a major leap forward for the kind of scalable, institutional-grade, DeFi applications that can be built only on Solana. Chainlink is now the most robust and comprehensive oracle network on the Solana blockchain, and we anticipate its role in the Solana ecosystem to expand as we integrate more price feeds and additional off-chain services.”

The co-founder of Solana, Anatoly Yakovenko, added that Chainlink’s launch on the network will “give DeFi developers access to the most widely used oracles in blockchain” and enable them to “build new DeFi dapps and products.” To that point, multiple Solana-native DeFi projects have already committed to adopting Chainlink’s price feeds, including yield aggregators Francium and Tulip, money market Paricot Finance, and the stablecoin protocol UPFI.

Besides the price feeds, Chainlink also said it wants to bring more of its services to Solana, including its Proof-of-Reserve service for asset attestations, its keepers for event-driven and time-based automation, and its Verifiable Random Function for sourcing randomness.

Disclosure: At the time of writing, the author of this piece owned ETH and several other cryptocurrencies.

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