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FLOW/USD Chainlink Price Feed Brings Cross-Chain DeFi To Flow Network

Developed by Dapper Labs, the team behind popular blockchain applications like CryptoKitties, the Flow blockchain was built from the ground up with a novel four-node architecture that improves speed and scalability without sharding or compromising decentralization. Flow’s unique ergonomic, resource-oriented smart contract programming language, Cadence, is engineered to further amplify the capabilities of smart contracts by abstracting away complexity. 

The Flow network’s borderless digital economy of apps, games, and smart contracts is powered by its native currency, FLOW, which developers can utilize for peer-to-peer payments, service charges, or consumer rewards. Today, Flow announced the launch of a FLOW/USD Chainlink Price Feed on the Ethereum blockchain, enabling DeFi platforms on Ethereum to integrate FLOW into use cases, such as prediction and lending markets, that require accurate decentralized price data.

Utilizing first principles, Flow was designed to function as “the blockchain for open worlds,” where smart contracts can easily be assembled like LEGO blocks to create scalable dapps for thriving communities such as the NBA and the NFL, both partners of Dapper Labs. More than a dozen teams are currently building DeFi primitives on Flow.

As the industry-standard decentralized oracle network securing the vast majority of DeFi, Chainlink brings permissionless composability to the Flow network with the FLOW/USD Chainlink Price Feed.

In the near future, wFLOW (wrapped FLOW) will provide a bridge for users to maximize the utility of their FLOW across Ethereum’s robust, battle-tested ecosystem. Matthieu Jobbé-Duval, Head of Financial Products at Dapper Labs, told Chainlink Today that the FLOW/USD Chainlink Price Feed is the first step for cross-chain adoption of FLOW for DeFi applications.

“This gives lending and derivative dapp developers a secure and reliable FLOW price oracle to integrate FLOW into various prediction markets, lending markets and other use cases,” he said.  

To learn more about Flow, visit their website, Twitter, Discord, Telegram, GitHub, and YouTube.

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