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Polygon zkEVM Taking DeFi To The Next Level With Chainlink Data Feeds

Layer-2 scaling solutions are expanding the Ethereum ecosystem and accelerating the evolution of web3. ZK rollups are layer-2s that route labor-intensive computation offchain and use zero-knowledge (ZK) proofs to verify and batch transactions before posting them onchain. This reduces transaction fees and congestion while maintaining the same level of security.

Polygon zkEVM is a leading EVM-equivalent ZK scaling solution that uses Polygon Zero technology to achieve the world’s fastest ZK proof. Today, Chainlink Data Feeds went live on Polygon zkEVM, unlocking next-gen DeFi applications powered by the industry-standard data solution that has enabled over $9.2 trillion in transaction value throughout the DeFi economy. 

Developers building on Polygon zkEVM will now have access to high-quality market data needed to launch cutting-edge liquidity protocols and decentralized exchanges that broaden DeFi’s utility and adoption. 

In an official announcement, Polygon Labs CEO Marc Borion said Chainlink Data Feeds will help generate the future of DeFi on Polygon zkEVM beginning with the deployment of “several significant DeFi protocols” in early 2024. 

“With the integration of Chainlink Data Feeds, DeFi can take the next step on Polygon zkEVM,” he said. “Chainlink oracles unlock a host of DeFi applications, bringing opportunity for new dApps that truly leverage the unique value propositions of a ZK rollup, including fast finality and robust security.” 

Polygon zkEVM’s complete EVM compatibility allows developers to build high-speed, cross-functional dApps that inherit Ethereum’s steadfast security. Chainlink Labs Chief Business Officer Johann Eid said the integration of Chainlink Data Feeds – which are resistant to API downtime, flash crash outliers, and data manipulation attacks – expand developers’ horizons.

“We’re thrilled to be supporting Polygon zkEVM with secure and reliable price data that empowers developers to begin building lightning-fast DeFi applications that fully leverage Polygon zkEVM’s speed and scalability,” he said. “Security is a necessity for the long-term vision of any DeFi protocol, and with Chainlink’s robust, time-tested oracle networks now live on Polygon zkEVM, we’re excited to see what gets built.”

To learn more about Polygon zkEVM, visit their website, X, Telegram, and Discord.

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