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Matic integrates Chainlink price feed oracles

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Chainlink has successfully been deployed on the Matic Network, as confirmed by an announcement today.

Matic is now the second blockchain after Ethereum to integrate Chainlink Price Feed Oracles. Five price feeds have already been launched on the mainnet:  MATIC/USD, USDC/USD, ETH/USD, USDT/USD, and DAI/USD.

As it stands, more price feeds are expected to follow soon as a means of supporting the growing demand of DeFi on the Matic Network.

“We’re confident that Chainlink Price Feeds are an optimal solution for Matic DeFi developers needing secure, reliable, and ready made oracle solutions that can easily be integrated into their protocols. This both accelerates their go-to market timelines and helps them avoid the many pitfalls of trying to build their own oracle solutions or relying on unproven alternatives.”, stated Matic.

In addition to Price Feeds, Chainlink is also said to be working with Matic to launch Chainlink VRF (Verifiable Random Function) and as a general-purpose oracle solution to connect to any off-chain API.

A project called Digital Bridge, is a 2FA oracle built using Chainlink that allows developers to build an extra security layer into their smart contracts and launching on Matic Network.

Reportedly, a number of projects on the Matic network are also already working towards implementing Chainlink VRF into their protocol.

Aavegotochi, a DeFi staked Crypto Collectible project, and FarmTogether, are two projects that are working towards the support of a new wave of scalable gaming applications on Matic.

As DeFi evolves as an environment that supports blockchain games and NFTs (Non-Fungible Tokens) as much as decentralized exchanges and platforms for alternative finance, the use of a provably-fair and verifiable source of randomness for smart contracts will become increasingly important.


Samyuktha is a full-time journalist at AMBCrypto. Currently pursuing her Masters in Finance and Business Analytics, she is interested in cryptocurrencies, fintech, and blockchain technology adoption across various sectors.
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