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Solana integrates Chainlink price oracles

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Chainlink announced that its decentralized pricing oracles became available on the Solana network. This will allow developers to get reliable, real-time price data for seven trading pairs.

Chainlink price oracles on Solana

In addition, the network said it will add other pairs of digital assets. For starters, developers will be able to leverage seven different Chainlink price feeds. In this initial step, trading pairs BTC/USD, ETH/USD and USDC/USD are included.

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

“The Chainlink integration with Solana is a huge step forward for scalable, institutional-grade DeFi applications.”

According to Nazarov, Chainlink is now the most robust and comprehensive oracle network:

“We anticipate its role in the Solana ecosystem to expand as we integrate more price feeds,” he concluded.

Meanwhile, Solana co-founder Anatoly Yakovenko added that this will be a big step forward for the ecosystem. After all, “it will give DeFi developers access to the most used oracles in blockchain.” In addition, it will allow them to “build new dapps and DeFi products”.

Several DeFi projects native to Solana have already committed to adopting Chainlink’s price feeds. This includes, for example, income aggregators Francium and Tulip and the money market Paricot Finance.

Who also positively signaled the adoption of the integration was the stablecoin protocol UPFI. In addition to price feeds, Chainlink also said it wants to bring more services to Solana, such as its Proof of Reserve service for asset attestations.

Recently, the Solana network has faced new technical difficulties. This time, the problems caused a new outage on the network.

For nearly seven hours, no blocks or transactions were processed on Solana. It was the twelfth that Solana’s network had problems in 2022. In addition, the network has an average of two problems each month, counting the recent failure.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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