As the blockchain industry’s most widely adopted oracle provider, the Chainlink Network comprises over 1,000 distinct oracle networks that have been integrated by more than 1,400 projects. Because Chainlink provides the broadest set of reliable on-chain price reference data across multiple top blockchains, the network enables increasingly sophisticated smart contracts and secures tens of billions of dollars across the growing DeFi ecosystem.
KyberSwap, a multi-chain DEX aggregator and liquidity platform created by Kyber Network, is one of the latest DeFi platforms to integrate Chainlink Price Feeds. The multi-chain integration on Arbitrum, Avalanche, BNB Chain, Ethereum, Optimism, and Polygon will support the transparent and reliable distribution of rewards to KyberDAO members, as well as the use of Kyber Network’s native token, KNC, as collateral on DeFi lending platforms.
“KyberSwap’s mission is to make life better with DeFi, and that means it must be easy, safe, and efficient for users,” a KyberSwap spokesperson told Chainlink Today.
In addition to using Chainlink Price Feeds to collateralize its native token across the multi-chain DeFi space and distribute voting rewards to its DAO members, Kyber Network is also operating a Chainlink node that contributes on-chain price data to and helps secure the Chainlink Network.
“Chainlink Price Feeds underpin the DeFi economy with highly secure, reliable, and decentralized market data, including on KyberDAO where they facilitate our distribution of rewards,” said Kyber Network co-founder and CEO, Victor Tran. “We’re excited to continue our use of Chainlink to support developers, traders, and liquidity providers across the multi-chain DeFi ecosystem.”
To learn more about Kyber Network, visit their website, blog, Twitter, Discord, and GitHub.