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Linear Finance Meets Scaling Needs With Chainlink Oracles

Decentralized oracle networks are the backbone of decentralized finance (DeFi) because they connect smart contracts on a blockchain to all of the world’s off-chain data. As DeFi gains widespread adoption and greater TVL, more DeFi protocols are integrating Chainlink’s industry-standard oracle solution to ensure the highest reliability while providing a secure and frictionless user experience.

Synthetic asset platform Linear Finance is one such protocol that requires price reference data for nearly all of its vital functions. This week, the platform updated its oracle mechanism to Chainlink Price Feeds on Binance Smart Chain to boost security for its growing TVL. Linear Finance Co-founder Drey Ng told Chainlink Today that it’s difficult to overestimate the need for Chainlink’s oracles as DeFi protocols scale.

“Oracle solutions sound easy to many amateurs’ eyes. It’s simply a price update, isn’t it? However, in the actual implementation and running of any DeFi platform with a decent and growing scale like us, the up-time and stability of the oracle provider becomes one of the most important elements for the protocol to succeed and serve the masses,” he said.

Linear Finance is a cross-chain compatible, decentralized delta one asset protocol offering users synthetic exposure to various cryptocurrencies, commodities and market indices. Users can instantly swap assets across blockchains and protocols with unlimited liquidity and zero slippage. The platform integrated 18 different Chainlink Price Feeds with the ability to quickly and securely scale to meet demand for more assets.

According to Ng, integrating Chainlink’s longest standing, battle-tested oracle solution will allow Linear Finance to deploy on more chains in the future. He said he sees this happening amid the “inevitable widespread adoption” of DeFi and emphasized Chainlink’s role in fortifying the entire DeFi ecosystem.

“With more DeFi protocols using Chainlink, we will actually be seeing a positive feedback loop in the sense that DeFi is composable, and when more and more protocols are adopting the Chainlink standard, feedback and suggestions will make the whole DeFi community stronger and more hack-proof and error-proof.” 

To learn more about Linear Finance, visit their website,  Discord, Telegram, GitHub and Twitter

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