Solana to Integrate Chainlink Price Oracles


Chainlink announced that its decentralized price oracles are available on the Solana network. This will allow developers to obtain real-time and reliable price data for seven trading pairs.

Additionally, the network said it will add other digital asset pairs. To start with, developers will be able to take advantage of seven different Chainlink price feeds. BTC/USD, ETH/USD, and USDC/USD trading pairs are included in this initial step.

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

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

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

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

Solana and integration with Chainlink oracles

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 widely used oracles on the blockchain.” In addition, it will allow them to “build new dapps and DeFi products”.

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

Also positively signaling the adoption of the integration was the stablecoin protocol UPFI. In addition to price sources, Chainlink also said that it wants to provide more services to Solana, such as its Proof of Reserve service for asset certifications.

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

For almost seven hours, no blocks or transactions were processed on Solana. It was the 12/12 that the Solana network had issues in 2022. Additionally, the network is averaging two issues each month, counting the recent failure.

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