As one of web3’s most active developer ecosystems, Polkadot comprises many project-specific parachains with their own developer economies. Polkadot’s Moonbeam parachain functions as an inherently interoperable smart contract platform on which developers can build EVM-compatible DeFi applications. Today, Moonbeam announced the completion of a critical piece of its developer infrastructure with the integration of Chainlink Price Feeds.
“With this launch, Moonbeam has all the major integrations in place to provide the economic security needed by DeFi applications,” Katie Butler, Head of Marketing for Moonbeam, told Chainlink Today. Butler said that for the many development teams already building on Moonbeam, Chainlink Price Feeds have consistently been the top requested oracle service.
As the blockchain industry’s leading decentralized oracle network, Chainlink secures tens of billions of dollars across the decentralized finance (DeFi) industry. Butler said a host of DeFi utilities such as lending and borrowing, minting synthetic assets, liquid staking, and collateralized stablecoins are now possible with access to Chainlink’s fast, accurate, decentralized market data.
“In the immediate term, this integration helps Moonbeam continue to attract well-known DeFi protocols like Curve, Lido, and Uniswap v3 to build on top of the platform, since Chainlink Price Feeds are seen as the best way to reliably source aggregated price data,” Butler explained.
In the long term, she said Moonbeam and Chainlink share the same vision of a multi-chain future, in which developers can harness the unique utility of multiple blockchains to build more advanced cross-chain smart contracts.
“Chainlink Price Feeds will serve as a key foundational element for the next-generation DeFi applications built atop Moonbeam, which will be able to interact with and control assets across many blockchains,” said Butler. “This is the next wave of decentralized finance, and Chainlink is a key integration to help projects bring this vision to fruition on Moonbeam.”