Matic incorporates price feed oracles for Chainlink

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As reported by an official news release recently, Matic incorporates Chainlink price feed oracles. Matic is currently the 2nd blockchain to incorporate Chainlink Price Feed Oracles following Ethereum. The key network has already released 5 price pairs: MATIC/USD, USDC/USD, ETH/USD, USDT/USD, and DAI/USD. 

As a way of helping DeFi’s rising demand on the Matic Network which it is serving, more price pairs are believed to come in the foreseeable furture.

Matic informed:

“We’re confident that Chainlink Price Feeds are an optimal solution for Matic DeFi developers needing secure, reliable, and ready made oracle solutions that can easily be integrated into their protocols. This both accelerates their go-to market timelines and helps them avoid the many pitfalls of trying to build their own oracle solutions or relying on unproven alternatives.”

Blockchain Oracles for Connected Smart Contracts | Chainlink

Besides Price Feeds, Chainlink is also reported to cooperate with Matic to release Chainlink VRF (Verifiable Random Function) and to bind to every off-chain API as a oracle approach for common aims. A initiative named Digital Bridge is a 2FA oracle developed utilizing Chainlink that allows users to write and deploy on the Matic Network an additional safety component in the smart contracts. 

A variety of initiatives on the Matic system are currently operating to integrate Chainlink VRF into its protocol. A Cryptocurrency Collectible venture from DeFi, Aavegotochi and FarmTogether, are two activities that are collaborating to assist a new generation of scalable gaming software on Matic. 

The use of a verified, honest and testable foundation of unpredictability for smart contracts are becoming extremely valuable as DeFi grows as an ecosystem that promotes blockchain games and NFTs (Non-Fungible Tokens) as well as decentralized markets and substitute financial platforms.

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