Monad Teams Up with Chainlink to Strengthen Layer 1 Ecosystem
Monad, a Layer 1 blockchain constructed for top efficiency and suitable with the Ethereum Digital Machine (EVM), has formally joined Chainlink’s SCALE program. By means of the partnership, Monad will implement Chainlink’s oracle companies, together with information feeds, information streams, and the cross-chain CCIP protocol, on its testnet. Because of this builders constructing on Monad could have entry to extra correct and dependable market information with out counting on third events.
By offering tamper-proof value and market information, this integration can improve person belief and pave the best way for wider adoption. Chainlink’s information feeds allow information supply at a low value and with lowered latency. For DeFi tasks that want pace and effectivity, this can be essential answer. CCIP, then again, permits for cross-chain transfers of tokens with particular directions on the goal blockchain.
CAP has already used Chainlink oracles on Ethereum to make sure that the cUSD value stays clear and can’t be manipulated. CAP’s actions are a real-life instance of how Chainlink can instantly construct belief in DeFi tasks. On the time of writing, LINK is buying and selling at $14.61, up 11.83% within the final 24 hours, pushing the market cap previous the $9 billion mark.
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