HomeCoinsAvalanche (AVAX)Chainlink Price Feeds Are Live on Avalanche Testnet, Giving Developers Native Access...

Chainlink Price Feeds Are Live on Avalanche Testnet, Giving Developers Native Access to High-Quality Price Data | by Avalanche | Avalanche | Jun, 2021

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Chainlink’s extensive collection of pre-built price oracles can be leveraged to support numerous DeFi use cases on Avalanche, such as protocols for lending and borrowing, derivatives, synthetics, asset management, algorithmic stablecoins, advanced automated market makers, and various other financial products.

Importantly, Chainlink Price Feeds operate directly on Avalanche without dependencies on other blockchains, meaning they benefit from the fast finality and low fees native to the Avalanche network, while maintaining the high-quality data and decentralized oracle infrastructure available through Chainlink.

Numerous DeFi protocols intend to use Chainlink Price Feeds on Avalanche. DeFi smart contracts can leverage Chainlink Price Feeds to secure key on-chain functions like determining collateralization ratios, triggering liquidations, determining yield and staking rates, and establishing fair prices for minting and asset swaps.

Avalanche is an open-source platform for launching performant, low-cost decentralized applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. It is built for the scale of global finance, with near-instant transaction finality, complete support for Ethereum applications, assets, and tooling, and more than 950 full, block-producing validators.

By combining Avalanche and Chainlink, developers can build highly scalable universally connected DeFi applications with strong security and reliability guarantees.

Chainlink Price Feeds make use of several key design implementations to ensure users are always receiving the most accurate and up-to-date financial market data in a tamper-proof and high uptime manner. Each Chainlink Price Feed is secured by a decentralized network of independent, security-reviewed node operators run by professional DevOps. These node operators are Sybil-resistant and have a strong and verifiable history of being highly available during periods of record volatility and network congestion.

Additionally, Chainlink Price Feeds source data exclusively from numerous premium data aggregators, resulting in data that’s reflective of all exchanges (DEXs and CEXs), weighted by volume, and cleaned of outliers and wash trading. Thus, Chainlink Price Feeds reflect accurate global market prices while protecting user funds against unexpected situations like API downtime, flash crashes, and data manipulation attacks (i.e., flash loans).

Chainlink is excited to enable more rapid DeFi development on Avalanche by providing ecosystem developers with quick and easy access to Chainlink Price Feeds. We plan to help facilitate the launch of more Chainlink Price Feeds as a means of further growing the Avalanche DeFi ecosystem, as well as building additional Chainlink oracle implementations in the future that go beyond DeFi and Price Feeds.

Chainlink is the most widely used and secure way to power universally connected smart contracts. With Chainlink, developers can connect any blockchain with high-quality data sources from other blockchains as well as real-world data. Managed by a global, decentralized community of hundreds of thousands of people, Chainlink is introducing a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance and gaming ecosystems, among others.

Chainlink is trusted by hundreds of organizations to deliver definitive truth via secure, reliable data feeds. To learn more, visit chain.link, subscribe to the Chainlink newsletter, and follow @chainlink on Twitter.

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Avalanche is an open-source platform for launching decentralized applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Avalanche is the first decentralized smart contracts platform built for the scale of global finance, with near-instant transaction finality. Ethereum developers can quickly build on Avalanche as Solidity works out-of-the-box.

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