WEB3

Chainlink Weekly Roundup: Blueberry, Magpie, Galileo, Fuse Gold

by BSC News

December 31, 2022

chain

Smart contract oracle network Chainlink caps off the year by partnering with DeFi protocols and physical asset tokenization platforms.

DeFi, Yield Harvesting, pNFTs, Gold

Dominant smart contract oracle network Chainlink ran all the way through the finish line of 2022, continuing to build across sectors in the Web3 industry.

In this week’s roundup:

Source

Blueberry Joins BUILD

Blueberry Protocol has joined the Chainlink BUILD program to accelerate the growth and adoption of its automated LP strategies for Uniswap v3.

“We’re excited to join Chainlink BUILD, which will help drive the adoption of our automated LP strategies for Uniswap v3. The Chainlink Network underpins the DeFi ecosystem, and its support will help secure and grow our platform. Ultimately, joining Chainlink BUILD will help us provide users with more reliable, secure, and advanced strategies,” Blueberry Co-Founder Slater Heil said in a Medium post.

Launching on Ethereum, Blueberry is a Decentralized Finance (DeFi) protocol that aggregates multiple leveraged strategies into one account alongside automated Blueberry Vaults for Uniswap v3 LPs.

By joining BUILD, Blueberry will gain access to product alpha and beta releases, technical support, and more. In exchange, Blueberry will commit 3.5% of its total token supply to Chainlink service providers, including stakers.

BNB Chain Yield Harvesting

Yield-boosting DeFi platform Magpie XYZ has integrated Chainlink Automation to power the BNB Chain protocol’s automated yield harvest function.

“We selected Chainlink Automation for our project because its infrastructure is both reliable and performant. Additionally, using Chainlink Automation has saved us a significant amount of DevOps work, allowing us to focus our resources on building a better product for our users,” Magpie XYZ Project Lead Alan said in a blog post.

Magpie is one of three yield-boosting protocols battling for control of Wombat Exchange’s governance token veWOM.

According to the post, Magpie intends to integrate more Chainlink services as the protocol evolves.

Chainlink for Nebula pNFTs

Galileo Protocol has integrated Chainlink’s Verifiable Random Function (VRF) on Polygon to ensure the fairness and transparency of the mint and airdrop of its genesis Nebula physical asset-backed NFTs (pNFTs).

"We chose to use Chainlink VRF because we believe it’s an unmatched, uniquely Web3 RNG solution that helps ensure fair, honest, and transparent randomness. Galileo Protocol, its team, and its community all share these core values,” Galileo Co-Founder and CEO Pierre Beunardeau said in a blog post.

Galileo’s mission is to “create a world where everything is tokenized.” The collection of 10,000 Nebula pNFTs is the only genesis collection Galileo will ever mint. Each Nebula has the possibility to produce a pNFT from $35,000 worth of physical goods and digital assets.

The project is also exploring the integration of Chainlink Price Feeds for the future launch of the Galileo Protocol Marketplace, according to the blog post.

Tokenized Gold Protocol

Fuse Gold is integrating Chainlink PoR into the minting function of its FUSEG token to better prevent infinite mint attacks and to assure users that FUSEG tokens are fully backed 1:1 by 99.999% LBMA-approved gold stored in vaults in the United Kingdom.

“Chainlink Proof of Reserve is mission-critical for Web3 protocols bringing real-world assets on-chain. With PoR helping verify that the FUSEG token supply doesn’t exceed off-chain gold reserves, we’re able to help protect our platform from infinite mint attacks,” the Fuse Gold CEO said in a Medium post.

The Fuse Gold Decentralized Exchange (DEX) will enable users to trade FUSEG and other digital assets.

Last four weekly Chainlink Roundups:

What is Chainlink:

Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries and offers global enterprises and leading data providers a universal gateway to all blockchains.

Where to find Chainlink:

Website | Twitter | Docs | Community

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