PolkaFoundry partners with Chainlink to integrate Oracle Feeds in DeFi dApp Ecosystem

We are pleased to announce the successful integration of the data oracles of Chainlink, a decentralized oracle network connecting smart contracts to real-world data, into the PolkaFoundry chain. Chainlink’s decentralized networks of oracles will provide dApps in the PolkaFoundry ecosystem with secure and reliable access to off-chain data. Through the Chainlink integration:

  • The PolkaFoundry ecosystem is providing dApps with secure and reliable access to the largest collection of on-chain market data, including off-chain data, web APIs, payment gateways, and IoT data sources
  • In the rapidly expanding Polkadot Network favored by many dApps, developers can now use Chainlink oracles with Solidity smart contracts on parachains.
  • PolkaFoundry’s production hub and Chainlink’s data oracles will simplify complex connected smart contract integrations to support interoperable operations.

To exploit the full benefits of DeFi and Web 3.0 on interoperable blockchains, dApps require interchain data communication. PolkaFoundry’s one-stop production hub for dApps building on Substrate for Polkadot, and eventually other cross-chain infrastructures, provides a complete suite of products including UX-enabling, identity, data, and other solutions to support frictionless cross-chain data communication. With the integration of Chainlink decentralized data oracles, dApps will be able to easily query and retrieve real-time data from an extensive collection of on-chain data repositories for any smart contract.

Chainlink, the most widely deployed data oracle solution and an essential data bridge for DeFi dApps, is currently deployed by over 200 DeFi applications. dApps running on PolkaFoundry will benefit from an oracle solution with proven integrations across hundreds of blockchain executions. Price feeds on Chainlink data oracles, designed to work with any blockchain, currently support DOT, KSM, ETH, and BTC.

Together, the Chainlink-PolkaFoundry integration provides robust data access and management solution for DeFi applications facing rapid growth in cross-chain data queries and transfers. Using PolkaFoundry tools, developers can seamlessly integrate UX, identity management, file storage, and other essential data management solutions. As cross-chain data becomes central to a dApp’s value proposition, an improved user experience and data handling solutions are becoming essential to their value proposition.

By supporting high-quality connections and off-chain data flows, both PolkaFoundry and Chainlink are advancing their efforts to make cross-chain connectivity seamless and intuitive for users.

ABOUT CHAINLINK

Chainlink is the most widely used and secure way to power universal smart contracts. With Chainlink, developers can connect any blockchain with high-quality data sources from other blockchains as well as real-world data. Managed by a global, decentralized community of hundreds of thousands of people, Chainlink is introducing a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance and gaming ecosystems, among others.

ABOUT POLKAFOUNDRY

PolkaFoundry is a platform for building borderless and frictionless DeFi dApps on Polkadot. It aims to be the one-stop production hub for DeFi dApps with all the necessary features, services, integrations, and tools for DeFi experiments, innovations, and real-world solutions. Taking advantage of the interoperability and scalability of Polkadot as well as integrating many DeFi-friendly services into the platform, PolkaFoundry also provides UX-enabling features that make dApps as easy to use as normal applications and bring dApps to the masses.

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