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Chainlink Weekly Roundup: StarkNet, TrueUSD, Radiant, ETHDenver

by BSC News

February 26, 2023

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Dominant smart contract oracle network Chainlink makes progress on StarkNet, partners with a USD stablecoin and Arbitrum protocol, and participates in ETHDenver.

DeFi, Stablecoin, Money Market, Convention

This week, Chainlink is flexing its industry-standard multichain credentials, as the dominant smart contract oracle network branched out to a testnet, is helping back a stablecoin and partnered with a protocol on a growing Layer-2 solution. And here’s how to meet Chainlink at a major Ethereum event going on in the U.S.

In this week’s roundup:

Chainlink Price Feeds on StarkNet Testnet

Chainlink Price Feeds are now available on StarkNet Testnet, and already Decentralized Finance (DeFi) applications are using the data source to power their platforms.

Examples of protocols using Price Feeds on StarkNet already include zkLend, Nostra Finance and ZKX Protocol.

“Chainlink’s reliable oracle services will help enable zkLend money markets to underpin core DeFi activity on StarkNet. Starkware’s commitment to equipping developers with industry-leading infrastructure by joining the Chainlink SCALE program will provide a bedrock for StarkNet innovation,” zkLend Co-Founder and CTO Jonathan Lei said on Twitter.

TrueUSD Integrates PoR

TrueUSD has integrated Chainlink PoR directly into the minting function for the TUSD stablecoin.

“We’re excited to be using Chainlink Proof of Reserve to enhance the transparency and verifiability of our stablecoin,” Archblock CEO Ryan Christensen said in a Medium post. “As the industry-standard decentralized oracle network, Chainlink helps ensure that TUSD is always collateralized by off-chain fiat reserves, furthering TUSD’s commitment to trust and transparency.”

TUSD is the first USD-collateralized stablecoin to control minting with real-time on-chain verification of off-chain reserves.

“We are proud to support TUSD in its efforts to bring new layers of transparency, risk management, and security to its stablecoin minting process,” Chainlink Co-Founder Sergey Nazarov said. “With Chainlink Proof of Reserve, TUSD is able to provide greater levels of assurance and confidence to its users, and help bring greater stability to stablecoins and the broader crypto industry.”

Radiant Capital Integrates Price Feeds on Arbitrum

Decentralized money market Radiant Capital has integrated Chainlink Price Feeds on Arbitrum, initially for BTC, DAI, ETH, USDC, USDT and BNB.

“Accurate market data is critical for decentralized money markets. Integrating Chainlink Price Feeds helps ensure that our protocol remains secure, scalable, and decentralized,” Radiant Capital CMO Roger said in a Medium post.

Radiant also will integrate Price Feeds on BNB Chain when the protocol goes live on that blockchain.

Chainlink Live in ETHDenver

Chainlink is among the many Web3 companies converging on the Rockies for the major ETHDenver conference going on this week.

Check out the schedule to see the events Chainlink is participating in and sponsoring in Denver.

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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