Chainlink Price Feeds Running Live on Harmony Mainnet, Empowering Developers Building DeFi Apps
We’re excited to announce that the industry-leading Chainlink Price Feeds are now running live on Harmony mainnet as the go-to oracle solution for DeFi projects in the Harmony ecosystem.
Chainlink Price Feeds are pre-built and time-tested decentralized price oracles that developers can use to build a variety of DeFi applications such as money markets, stablecoins, synthetic assets, automated trading strategies, future contracts, payment solutions, and much more.
Importantly, Chainlink Price Feeds are native to the Harmony blockchain, meaning they run at the fast speed and with the low costs users have come to expect.
To start building with Chainlink Price Feeds on Harmony today, refer to the following developer documentation. If you would like to request new Price Feeds for virtually any type of financial asset or market data, such as cryptocurrency prices, FX rates, traditional asset valuations, total crypto market cap, etc. don’t hesitate to reach out to the Chainlink Labs team.
Building DeFi apps often require information about the current state of global markets before execution of key on-chain functions. For example, lending protocols need to calculate the value of assets before issuing loans or processing liquidations, remittance solutions need real-time exchange rates to avoid slippage for users, and options contracts need prices at expiry to properly settle.
With the integration of Chainlink Price Feeds, it’s never been easier to create and execute such smart contract logic in a highly secure and reliable manner.
Chainlink Price Feeds are decentralized oracle networks that maintain on-chain reference contracts which store the most recent value of various assets and financial market data. Developers only need a single call function to reference these Price Feeds in their own applications at any time.
Each Chainlink Price Feed is powered by a decentralized network of Sybil-resistant oracle nodes that are run by leading DevOps teams and large enterprises. These oracle networks source real-time data from numerous premium data providers, which each aggregate prices from across centralized and decentralized exchanges, weight it by volume, and remove outliers/suspicious volume.
The result is accurate price feeds with high uptime and tamper-resistance, as demonstrated by Chainlink Price Feeds historical resilience during unexpected events like extreme market volatility, exchange/API downtime, flash crashes, and data manipulation like flash loan attacks. To learn more about the benefits of integrating Chainlink Price Feeds, refer to our testnet announcement.
“Chainlink is the gold standard for decentralized data feeds and secure off-chain computation, hence why we recommend Chainlink to all developers building on Harmony that need oracle solutions,” stated Stephen Tse, Founder and CEO of Harmony. “Given the rapid interest and growth of DeFi in the Harmony ecosystem, the integration of Chainlink Price Feeds will vastly accelerate development while also helping projects save time and resources as well as mitigate the risks around trying to build their own oracle solutions or relying on unproven alternatives.”
Through the combination of Harmony’s scalable, low cost blockchain infrastructure and Chainlink’s secure and reliable oracle solutions, developers can build advanced hybrid smart contract applications that are both trust-minimized and feature-rich.
It’s this framework that can enable dApps capable of supporting mass adoption thanks to lower costs and higher speeds while retaining open-accessibility and decentralized security.
We look forward to seeing the types of DeFi applications developers create on Harmony through support from Chainlink Price Feeds. We’re also excited to continue collaborating with Chainlink to bring additional oracle services to developers in the future, further empowering a diverse array of smart contract verticals on Harmony like gaming, NFTs, insurance, and more.
About Chainlink
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.
Learn more about Chainlink by visiting chain.link or read the documentation at docs.chain.link. To discuss an integration, reach out to an expert.
About Harmony
Build on Harmony, Bridge to All Chains.
Harmony is an open and fast blockchain. Our mainnet runs Ethereum applications with 2-second transaction finality and 100 times lower fees.
Harmony is your open platform for assets, collectibles, identity, governance. Our secure bridges offer cross-chain asset transfers with Ethereum, Binance and 3 other chains.
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