As web3’s leading decentralized oracle service, Chainlink has enabled nearly $7 trillion in transaction value while its ecosystem has expanded beyond 1,500 projects. Recently, Chainlink co-founder Sergey Nazarov announced the launch of Chainlink Economics 2.0 – a framework of initiatives, including a roadmap for staking, aimed at continuing to scale Chainlink’s cross-chain expansion through sustainable growth, cryptoeconomic security, and revenue capture.
A key component of Economics 2.0 is Chainlink BUILD, a program designed to foster the success of promising early-stage startups within the Chainlink ecosystem. Participating projects receive benefits such as priority access to new Chainlink services, enhanced technical support, and custom data feeds in exchange for boosting the Chainlink Network’s cryptoeconomic security by paying fees and providing incentives to Chainlink service providers such as stakers.
Among the first ten projects accepted into BUILD is Dolomite, a margin protocol and DEX that uses Chainlink Price Feeds to support its advanced leveraged trading and lending functions on Arbitrum. In an announcement, the Dolomite team said participating in BUILD will help “accelerate awareness of Dolomite’s products on Arbitrum and ultimately increase access to open and transparent financial services.”
Dolomite co-founder Corey Caplan told Chainlink Today that participating in BUILD will enhance the protocol’s ability to differentiate itself through key features like high capital efficiency and support for a broad set of collateral assets while utilizing Chainlink’s decentralized services such as Automation (formerly Keepers) to create new DeFi capabilities.
“Without the Chainlink BUILD program, Dolomite would have to create some of these decentralized services on its own and kickstart a new network of nodes to run these services,” Caplan explained. “That would take a long time and would expose key features of the protocol to centralization, which we’re trying to avoid.”
While Dolomite’s work with Chainlink began before BUILD, Caplan said participating in the program takes the experience to another level. “Direct access to Chainlink engineers to experiment with building new things is really exciting,” he said. “The Chainlink engineers are top-notch and have a deep attention to detail and quality that’s hard to find elsewhere.”
Ultimately, Caplan believes Chainlink’s infrastructure will play a fundamental role in the mainstream adoption of trust-minimized financial applications. “I see Chainlink becoming a backbone for far more services that increase the overall robustness and reliability of DeFi,” he said.
To learn more about Dolomite, visit their website, Twitter, and Discord. Learn more about Chainlink BUILD and apply here.