Chainlink Price Feeds Are Now Live on Harmony Testnet, Opening Up Scalable DeFi Development
We are excited to announce that Chainlink Price Feeds are live and natively integrated on the Harmony testnet, giving developers native access to the DeFi industry’s leading decentralized price oracle solution. Harmony developers can now begin building and testing a variety of data-driven DeFi applications by referencing Chainlink oracles for high-quality, low latency, tamper-proof price feeds.
The initial integration includes the following Chainlink Price Feeds:
These price oracles can help power DeFi applications like algorithmic stablecoins, lending/borrowing markets, future and options contracts, remittance solutions, automated trading strategies, and much more.
Chainlink Price Feeds are secured by decentralized oracle networks made up of numerous Sybil-resistant node operators that source prices from high-quality data aggregators to establish wide market coverage. We recommend that any developer building on Harmony and needing financial market information to utilize Chainlink oracles, as they offer time-tested infrastructure that’s proven to secure tens of billions in value across DeFi during extreme market volatility, flash crashes, centralized infrastructure downtime, and flash loan attacks.
Harmony developers can start testing Chainlink today using the following developer documentation: Harmony-Chainlink Documentation. Developers are encouraged to use Chainlink in the Harmony Hackathon, which offers 1M total in prizes distributed to top submissions, including prizes sponsored by Chainlink.
Harmony is a decentralized, high-throughput blockchain for storing assets, collectibles, and identity, as well as building smart contract applications and DAOs. The Harmony mainnet supports 4 shards of 1000 nodes, producing blocks with 2-second transaction finality and low fees. This enables the development of highly scalable applications across numerous industry verticals.
As Harmony begins rapid development of its DeFi ecosystem, it is key to provide developers with the most mature and in-demand infrastructure for building applications, most notably price oracles. The obvious place to start is the most widely adopted solution, Chainlink.
Chainlink Price Feeds are an optimal choice for developers because they source data from numerous premium data aggregators, resulting in price feeds that reflect a volume-weighted average across all exchanges (DEXs and CEXs), with outliers and suspicious volumes removed. Additionally, each Chainlink Price Feed is secured by a decentralized network of independent, security-reviewed node operators run by professional DevOps. The result is Chainlink Price Feeds having accurate global market prices while providing high availability and tamper-resistance.
By combining Harmony and Chainlink, developers can build highly scalable, low-cost DeFi applications with strong security and reliability guarantees on the data inputs used in their execution.
“Integrating the accurate, flash-loan resistant data of Chainlink is a significant catalyst for unlocking a new wave of DeFi development in the Harmony ecosystem. Knowing that their oracle mechanism is secured, application developers can focus on building their core product and providing their users a superior experience.”
— Stephen Tse, Co-Founder, Harmony
Chainlink is the industry standard oracle network for powering hybrid smart contracts. Chainlink Decentralized Oracle Networks provide developers with the largest collection of high-quality data sources and secure off-chain computations to expand the capabilities of smart contracts on any blockchain. Managed by a global, decentralized community, Chainlink currently secures billions of dollars in value for smart contracts across decentralized finance (DeFi), insurance, gaming, and other major industries.
Chainlink is trusted by hundreds of organizations, from global enterprises to projects at the forefront of the blockchain economy, to deliver definitive truth via secure, reliable oracle networks. To learn more about Chainlink, visit chain.link and subscribe to the Chainlink newsletter. To understand the full vision of the Chainlink Network, read the Chainlink 2.0 whitepaper. Want to discuss an integration? Talk to an expert.
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