TL;DR
- Chainlink and Starknet will integrate Data Feeds into STRK mainnet, significantly enhancing its DeFi capabilities.
- The integration will address limitations in accessing external data for complex DeFi applications.
- Additionally, Chainlink’s SCALE program subsidizes oracle nodes to ensure reliability in STRK’s Data Feeds.
Chainlink and Starknet have announced their integration to boost the capabilities of decentralized financial applications (DeFi) on the Starknet network. The collaboration will enable the implementation of Chainlink Data Feeds on the STRK mainnet, providing developers with direct access to accurate and decentralized market data within their applications.
Starknet, renowned for its secure scaling technology based on Ethereum’s rollup validation, faced limitations in accessing external data necessary for complex DeFi applications. The integration of Chainlink Data Feeds addresses this challenge by empowering developers to integrate verifiable market data directly into their blockchain. This will strengthen the security and scalability of DeFi applications on STRK while preserving interoperability with other blockchains.
Chainlink’s SCALE program, pivotal in this initiative, subsidizes operational costs for oracle nodes essential to ensuring the reliability and continuous availability of Data Feeds. The integration of both platforms will lower entry barriers for developers and accelerate the growth of the STRK ecosystem by providing an economic and reliable development environment.
Starknet Prepares to Revolutionize the DeFi Economy
Diego Oliva, CEO of the Starknet Foundation, stated that “providing Starknet developers with secure, reliable, and accurate data will unlock a series of advanced use cases in DeFi and promote ecosystem adoption.”
Johann Eid, Business Director at Chainlink Labs, mentioned that this collaboration will enable developers to build highly secure and scalable DeFi applications using hyper-reliable, accurate, and decentralized market data directly on-chain.
The partnership between Chainlink and Starknet will boost the evolution of DeFi applications. Both platforms are committed to innovation and technological advancement in the blockchain industry. With these new capabilities, the DeFi ecosystem on STRK is expected to experience explosive growth, attracting more developers and users to its financial solutions.
