Blockchain

Chainlink Price Feeds Are Now Live On Base, LINK Soars Over 5%

Key Points:

Base integrates Chainlink Price Feeds, fusing high-performance blockchain with industry-standard data solutions.
Developers gain access to external DeFi applications, leveraging seamless connectivity for lending, futures, and derivatives markets.
Scalability meets secure oracle networks, empowering novel DeFi projects and solidifying Base’s dynamic ecosystem.

Base, a high-performance layer-2 blockchain nurtured by Coinbase and backed by Ethereum, has unveiled the integration of Chainlink Price Feeds into its ecosystem.

Chainlink Price Feeds Are Now Live On Base, LINK Soars Over 5% 3

This collaboration equips Base developers with access to Chainlink’s industry-standard data feeds, reinforcing the foundation for advanced DeFi (Decentralized Finance) applications and the expansion of Base’s ecosystem.

The incorporation of Chainlink’s oracle infrastructure enables seamless connectivity between Base and external DeFi platforms like lending and borrowing protocols, futures markets, and derivatives markets.

The synergy between Chainlink and Base enhances the network’s scalability and usability, fostering a dynamic environment for innovative experiments and novel use cases.

Jesse Pollak, Head of Protocols at Coinbase, emphasized the pivotal role of Chainlink Price Feeds in facilitating the migration of existing applications to Base.

The feeds derive their accuracy from decentralized oracle networks sourced from an array of decentralized and centralized exchanges. These feeds ensure comprehensive market coverage by factoring in volume-weighted averages bolstered by safeguards against suspicious activity.

This integration empowers developers to pioneer groundbreaking DeFi applications, benefitting from the synergy between Base’s development solutions and Chainlink’s robust data infrastructure.

The unified efforts of Base and Chainlink present a promising prospect for the DeFi landscape, promising a wave of pioneering applications that can potentially captivate a vast user base. As the partnership evolves, the industry eagerly anticipates the innovative ventures that developers will forge on Base’s thriving platform.

Thanks to the above news, LINK has skyrocketed more than 5.3% on the day, outperforming other coins in the market.

LINK price chart. Source: TradingView

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.