

Chainlink Weekly Roundup: MakerDAO, Starknet, Cryptex, Aave



Dominant smart contract oracle network Chainlink announced partnerships with MakerDAO, Starknet, Cryptex, BGD Labs, Aave and BENQUI.
Keeper, ZK-Rollup, JPEGz, Wrapped Tokens
Chainlink teamed up with several high-profile projects across the crypto universe this week, announcing partnerships with a Decentralized Finance (DeFi) pioneer, an innovative Layer-2 solution, a novel NFT marketplace index token and a major liquidity protocol.
In this week’s roundup:
- MakerDAO onboards Chainlink Automation as part of its Keeper Network.
- Starknet joins Chainlink SCALE.
- Cryptex Finance integrates NFT Floor Price Feeds to launch JPEGz.
- BGD Labs integrates Proof of Reserve (PoR) into Aave Protocol on Avalanche.
MakerDAO adds Automation to Keeper
MakerDAO has onboarded Chainlink Automation as part of its Keeper Network.
"The sophisticated technology and tools that quietly but constantly run in the background to ensure DAI's stability rely upon MakerDAO's Keeper Network. This network of automated bots perform essential tasks to maintain the Maker protocol and will be greatly expanded through the integration with Chainlink's renowned, hyper-reliable automation platform,” said Nadia Álvarez from MakerDAO's Growth Core Unit, in a press release.
MakerDAO governs the foundational DeFi lending protocol Maker Protocol and created the DAI stablecoin.
Automation will run specific tasks on the Maker Protocol smart contract system, such as Maker Oracle’s price updates, liquidity balancing for for the DAI Direct Deposit Module and debt ceiling upgrades for assets held as collateral. The addition of Automation to the third-party “Keepers” performing duties for Maker Protocol improves the decentralization of Maker and DAI’s core functionalities.
"The advancement of the technology backing stablecoins is a necessary component to unlock the future of finance. As more and more traditional financial institutions partner with MakerDAO and assess the applicability of DeFi, the required underlying infrastructure becomes increasingly complex,” Chainlink’s VP of Go-To-Market Johann Eid said. “Integrating Chainlink with MakerDAO demonstrates the necessity for highly performant automation infrastructure and indicates a prosperous future for decentralized financial services."
Two renowned security pillars of the decentralized financial system are now working together for the first time.
— Maker (@MakerDAO) February 9, 2023
We’re happy to announce that MakerDAO has onboarded @Chainlink Automation as part of its Keeper Network. pic.twitter.com/wjouZzcqpS
Chainlink + Starknet
Starknet is joining the Chainlink SCALE program to accelerate the growth and adoption of the Ethereum Layer-2 solution. Meanwhile, Chainlink Price Feeds are already on the Starknet testnet and will soon go live on its mainnet.
“Ultimately, we are excited to establish a sustainable system wherein Chainlink Labs and StarkWare are aligned on expanding application development on Starknet for the long term,” according to a StarkWare Medium post.
Starknet is a ZK-Rollup aiming to address scaling issues with the Ethereum mainnet. As part of the SCALE program, the yet-to-be-released $STKR will cover certain operating costs of Chainlink oracle nodes on Starknet.
2/ Through a strategic deployment of resources, @StarkWareLtd will cover certain operating costs for #Chainlink nodes on #StarkNet.
— Chainlink (@chainlink) February 6, 2023
As the StarkNet ecosystem grows, fees from dApps can eventually cover the full on-chain costs of Chainlink nodes.
NFT Index Token JPEGz
Cryptex Finance has integrated NFT Floor Price Feeds to launch JPEGz, the first NFT Market Cap Index token.
“Cryptex is thrilled to announce the creation of JPEGz, a fully collateralized, data-backed index token providing market cap exposure to the NFT sector,” Cryptex Co-Founder Joe Sticco said in a Medium post. “The robust calculation and secure delivery of NFT floor price data by Coinbase Cloud and Chainlink helps support the growth of this unique asset class.”
The JPEGz token will track the following Non-Fungible Token (NFT) collections: Azuki Official, Bored Ape Yacht Club, CloneX, Cool Cats, CrypToadz, CryptoPunks, Doodles, Mutant Ape Yacht Club, Vee Friends, and World of Women.
Cryptex had already integrated Chainlink oracle services and Price Feeds for its TCAP index token that tracks the total crypto market cap.
.@CryptexFinance has integrated #Chainlink NFT Floor Price Feeds to help underpin JPEGz—an #NFT market cap index token tracking top NFT collections.
— Chainlink (@chainlink) February 7, 2023
Discover how NFT Floor Price Feeds are unleashing innovation in the NFT ecosystem ⬇️https://t.co/vM3V4DSr2o
Chainlink + Aave on Avalanche
Web3 development initiative BGD Labs announced the integration of Chainlink Proof of Reserve (PoR) on the Aave lending protocol on Avalanche.
"We're pleased to support the Aave Protocol and community by integrating Chainlink Proof of Reserve," BGD Labs Co-Founder Ernesto Boado said in a press release. "This integration helps prevent undercollateralized bridged assets on Aave markets on Avalanche, helping to reduce the technical and economic risks associated with liquidity pools involving bridged assets."
The PoR integration helps ensure that wrapped tokens in Aave markets on Avalanche are sufficiently collateralized. The PoR feeds now support AAVE.e, DAI.e, LINK.e, WBTC.e and WETH.e.
"Real-time access to the state of cross-chain liquidity pools increases the transparency and verifiability of the Aave market on Avalanche," Aave Companies Founder and CEO Stani Kulechov said. "Bringing additional visibility into reserve collateral is a necessary step forward and will help build more confidence and trust with end-users."
In 2022, Chainlink oracles helped enable transaction flows totaling more than $2 trillion.
"We are excited that Aave is using Chainlink Proof of Reserve to help ensure that cross-chain assets in Aave pools on Avalanche are sufficiently collateralized," Chainlink Co-Founder Sergey Nazarov said. "Fully-decentralized, automated verification through Chainlink PoR helps mitigate undercollateralization risks that cross-chain bridges can pose to Aave markets."
.@bgdlabs has integrated #Chainlink PoR into @AaveAave to help ensure wrapped tokens in Aave markets on #Avalanche are sufficiently collateralized.
— Chainlink (@chainlink) February 7, 2023
See how PoR helps mitigate risks associated with cross-chain bridges through trust-minimized verification.https://t.co/1N4g0VBGZ2
Also on Avalanche, money market protocol BENQI has integrated PoR and Automation to help secure cross-chain asset lending and borrowing for BTC, ETH, DAI, USDC and USDT.
For more information, read this BENQI Medium post.
.@chainlink Proof of Reserve is now integrated into the BENQI Liquidity Market, securing cross-chain asset lending and borrowing for BTC, ETH, DAI, USDC and USDt.
— BENQI🔺 (@BenqiFinance) February 9, 2023
Read more about it below 👇https://t.co/YiTpvYHnxJ
Last four weekly Chainlink Roundups:
- Feb. 5: Picardy Protocol, Icetea Labs
- Jan. 29: $7 Trillion, FilSwan, Karto Cars
- Jan. 22: Etherisc, OpenEarth, Planet IX, EMP Money
- Jan. 15: Mind Network, Polarys, Festa do Taipe
- Jan. 8: Cask, OnePlanet, Kwil, 2022 Highlights
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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Related News

Explore the comparative analysis between Bitcoin and Pi Network, two prominent networks shaping the future of decentralized finance. Uncover their differences in mining, scalability, market acceptance, and community dynamics.
TL;DR:
- Bitcoin and Pi Network are compared in terms of their foundational principles, mining methods, scalability, market acceptance, and community dynamics.
- Bitcoin operates as a decentralized digital currency, while Pi Network focuses on accessible mining through mobile devices.
- Bitcoin mining relies on computational power for security, while Pi Network utilizes a mobile mining approach with lower energy consumption.
- Bitcoin faces scalability challenges, while Pi Network needs to address scalability as it aims for widespread adoption. Market acceptance and value differ between the two networks.
Cryptocurrencies have opened new avenues for financial transactions, decentralized networks, and innovative technologies. Bitcoin, the first and most well-known digital asset, has paved the way for a digital revolution.
However, newer players like Pi Network are entering the market with unique propositions and aiming to challenge the status quo. This article will conduct a comparative analysis of Pi Network and the Bitcoin network to understand their similarities, differences, and potential implications for the future of Decentralized Finance (DeFi).
Foundational Principles
Bitcoin, introduced in 2009 by the pseudonymous Satoshi Nakamoto, was designed to be a decentralized digital currency that operates on a peer-to-peer network. Its foundational principles include security, transparency, and scarcity. Bitcoin's blockchain technology enables secure transactions without intermediaries or central authorities.
Pi Network, on the other hand, was founded by a team of Stanford graduates in 2019. It creates a digital currency, $PI, that can be mined using mobile devices, making it accessible to the masses.
Mining and Network Security
Both Pi Network and Bitcoin utilize mining as a fundamental process, but they employ different approaches. Bitcoin mining involves solving complex mathematical problems through computational power to validate transactions and add new blocks to the blockchain. This process ensures network security and prevents double-spending.
In contrast, Pi Network's mobile mining aims to provide an alternative approach that allows users to mine using their smartphones. It utilizes a consensus algorithm that doesn't require massive computational power or energy consumption. However, it's important to note that Pi Network is still in the enclosed mainnet phase, and the security and decentralization of its network are not as established as Bitcoin's.
Scalability and Transaction Speed
Scalability has been a significant challenge for Bitcoin. The network can handle a limited number of transactions per second, leading to congestion during peak periods and higher transaction fees. Various solutions, such as the Lightning Network, have been proposed to address these scalability issues and enhance transaction speed.
Pi Network, a relatively new project, has not yet faced the same scalability challenges as Bitcoin. However, as Pi Network aims to achieve widespread adoption, it must address scalability concerns to support a growing number of transactions and users when the open mainnet goes live.
Market Acceptance and Value
Bitcoin has gained widespread acceptance and recognition as a digital asset and a medium of exchange. It has attracted institutional investors, retail traders, and merchants worldwide. Bitcoin's value is determined by market demand, and its price has experienced significant volatility over the years.
In comparison, Pi Network’s enclosed mainnet phase means that its native currency has not yet been listed on major exchanges. Its value and market dynamics are not freely tradable or well-established. Pi Network's success in gaining market acceptance and establishing value will depend on user adoption, utility, and listing on reputable exchanges.
Community and Ecosystem
Bitcoin has a robust and active community of developers, enthusiasts, and supporters. Its open-source nature has allowed for the development of various applications, platforms, and services built on top of the Bitcoin network. The Bitcoin community has played a vital role in its growth and adoption.
Pi Network, as a newer project, is also building its community of users and supporters. It has attracted many early adopters enthusiastic about its vision of accessible mining. The Pi Network team actively engages with the community, providing updates and addressing concerns. Building a solid and engaged community will be crucial for Pi Network's success and future development.
Conclusion
The comparative analysis between Pi Network and the Bitcoin network highlights their differences in approach, mining methods, scarcity, scalability, market acceptance, and community dynamics. Bitcoin, as the pioneer in the cryptocurrency space, has established itself as a widely recognized and accepted digital asset. Its decentralized nature, security, and growing ecosystem contribute to its value and market dominance.
Pi Network, on the other hand, is a newer project that aims to bring mining to the masses through mobile devices. It introduces a unique consensus algorithm and focuses on accessibility and user-friendliness. However, Pi Network is still in its early stages, and its network security, scalability, and market acceptance are yet to be fully established.
Both Pi Network and the Bitcoin network contribute to the continuous innovation and evolution of decentralized finance. While Bitcoin remains the leader in market acceptance, value, and ecosystem development, Pi Network's vision of accessible mining and user-friendly approach could have implications for making cryptocurrencies more inclusive and widespread.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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