Connect with us

Hi, what are you looking for?

Webinar News NetworkWebinar News Network

Editor's Pick

Monad To Integrate ChainLink Oracle Services – What it Means

Monad, the Dragonfly and Paradigm backed EVM-compatible Layer-1 chain, has announced a major partnership with ChainLink.

Since launching its public testnet on Feb 19, it has shake up the crypto world with the promising 10,000 transactions per second.

Now, in an announcement on April 22, it has revealed integrating oracle network, Chainlik services from Day 1.

This integration is part of Monad’s membership in the Chainlink Scale program, designed to accelerate growth for Layer-1 and Layer-2 networks by providing enhanced access to Chainlink’s Web3 services.

This becomes important as the layer-1 blockchain eyes its mainnet launch soon. Last week, Monad also announced enabling Circle USDC transactions on its mainnet.

What Integrating Chainlink Services Mean for Developers

Monad will integrate Chainlink’s full suite of decentralized oracle services when its mainnet goes live.

This means that developers will be able to access Chainlink Data Feeds, Data Streams, and the Cross-Chain Interoperability Protocol (CCIP).

Chainlink’s Data Feeds will allow Monad developers to retrieve accurate and decentralized price feeds for assets. This will help developers in critical use cases of decentralized finance (DeFi) like lending platforms, automated market makers, and derivatives protocols.

It will also integrate Chainlink’s Data Streams – a pull-based oracle solution. This will offer low-latency, cost-efficient data delivery that mitigates front-running and miner extractable value (MEV) risks.

Meanwhile, CCIP will empower secure, programmable token transfers across blockchains. This will help in laying a foundation for genuinely interoperable decentralized applications.

Chainlink’s oracles have underpinned over $20 trillion in on-chain transaction volume, even during periods of extreme volatility and flash loan exploits.

The move also aligns with a broader industry trend of Layer-1 chains seeking to differentiate themselves through enterprise-grade oracle security and interoperability features.

Thus, using Chainlink’s oracle, any application built on Monad will have immediate access to tamper-proof, real-time market data from day one.

When is Monad Mainnet Launch – Soon?

This announcement comes as the blockchain eyes its mainnet launch soon. Founded with a vision of high throughput and developer-friendly execution, Monad aims to support over 10,000 transactions per second. This implies sub-second block times (0.5s), single-slot finality, and near-zero gas fees thanks to its parallel execution model.

It is backed by a $244 million funding round led by Dragonfly and Paradigm last month. The network has rapidly built out an ecosystem of more than 50 applications, infrastructure providers, and integrations in its testnet phases

With its testnet already supporting wallets like Phantom, OKX, Uniswap Wallet, Backpack, USD Coin (USDC), this integration of Chasinlink can serve as stimulus. These all services are slated to be available on day one of the mainnet launch as Monad positions itself as a developer-first platform.

While the exact mainnet launch date is still to be confirmed, the network has indicated it will go live in the first quarter of 2025.

Further, Monad’s decision to integrate Chainlink services also underscores a growing recognition for oracle infrastructure. Oracles and ross-chain interoperability are becoming essential pillars of a thriving Web3 ecosystem.

The post Monad To Integrate ChainLink Oracle Services – What it Means appeared first on CoinGape.

You May Also Like

Politics

President Donald Trump endorsed Sen. Steve Daines, R-Mont., calling the lawmaker ‘a Great Man, and TREMENDOUS Senator’ in a post on Truth Social. ‘I...

Investing

Shares of Tesla were flat in premarket trading Thursday after the EV maker denied a Wall Street Journal report that its board was searching for a...

Politics

Rep. Don Bacon, R-Neb., on Monday signaled he wouldn’t tolerate Defense Secretary Pete Hegseth allegedly once again sharing sensitive information about military operations in...

Investing

Boeing could hand over some of its aircraft that were destined for Chinese airlines to other carriers after China stopped taking deliveries of its planes...