Earlier this month, the Chainlink Network achieved a much anticipated milestone when seven initial Chainlink Price Feeds were natively integrated on Solana’s high-speed blockchain. The achievement marked Chainlink’s first mainnet integration on a non-EVM chain and commenced the realization of Chainlink co-founder Sergey Nazarov and Solana Labs CEO Anatoly Yakovenko’s shared vision for next-gen hybrid smart contracts.
Since Chainlink Price Feeds went live on Solana Devnet last August, popular Solana DeFi projects like leveraged yield farming platform Tulip announced plans to integrate Chainlink. Soon after Chainlink went live on Solana mainnet, Solana lending protocol Apricot Finance announced it’s integrating Chainlink to help calculate collateralization ratios and ensure accurate liquidations across all market conditions.
“What excites the team at Apricot the most is the additional security our Chainlink integration brings to the platform, as well as the comfort it brings to our users and potentially future users knowing we’re using a best-in-class oracle solution,” Michael Catt, Head of Business Development and Marketing at Apricot Finance, told Chainlink Today.
While DeFi offers many advantages compared to traditional finance, Catt said pushing innovation forward means DeFi protocols must make robust security measures a top priority. As the industry-standard oracle network already securing tens of billions of dollars in smart contracts, Chainlink enables the secure expansion of Solana’s ecosystem.
“Ideally, this encourages more developers and entrepreneurs to build within the network and leverage its partners,” Catt said.
At last year’s Solana Breakpoint, Yakovenko said he believes that the synergy between Chainlink and Solana will pave the way for web3 applications with the same performance, throughput, and cost efficiency of web2, potentially converting hundreds of millions of new users to DeFi.
“It’s a great feeling,” Catt said of Apricot joining the Chainlink ecosystem. “We’re well accustomed to watching Chainlink secure many groundbreaking applications across DeFi over the last couple of years, and it’s a pleasure to be able to participate among such great peers.”