Dominant smart contract oracle network Chainlink partnered with DeFi protocols on Ethereum and Avalanche, an NFT collection based on a Netflix series and an emerging cross-chain swap.
DeFi Derivatives, NFTs, Avalanche Rewards, Cross-Chain Swaps
Bull, bear or crab market, Chainlink continues to build relationships throughout the Web3 space. This week, crypto’s dominant smart contract oracle network announced partnerships with a Decentralized Finance (DeFi) derivatives protocol on Ethereum, an NFT collection based on a Netflix series, a DeFi platform on Avalanche and a cross-chain token exchange.
In this week’s roundup:
Lekker Joins BUILD
Lekker Finnace has joined the Chainlink BUILD Program to accelerate adoption of the upcoming leveraged trading platform on Ethereum.
“We’re thrilled to join Chainlink BUILD, which will help drive the adoption of our leveraged trading protocol. Chainlink services are essential for building a DeFi protocol, and we look forward to continued collaboration with the Chainlink ecosystem,” Lekker Co-Founder Peter Prado said. “Ultimately, we aim to develop a protocol that makes it easy to get access to leverage in DeFi. On top of that, our products are composable which makes them ideal tools for risk management.”
Lekker enables users to take leveraged positions using liquidity from other DeFi protocols, creating “a new type of DeFi derivative,” according to its website.
As part of BUILD, Lekker will receive access to new Chainlink product alpha and beta releases, dedicated technical support from the Chainlink ecosystem, and more.
In return, Lekker has committed 4% of its total token supply to Chainlink service providers, including stakers.
Gunther’s Rich Dog NFT Collection
The Gunther’s Rich Dog Non-Fungible Token (NFT) collection is integrating Chainlink VRF to support the launch of the Ethereum collection based on the Netflix series Gunther’s Millions.
“The Richest Dog in the World’s Collection gives fans and collectors the opportunity to access exclusive experiences across the globe with the cast and crew behind the show, ranging from AMAs to a weekend on Gunther’s yacht in Italy,” Chainlink tweeted.
The Gunther’s Rich Dog NFTs are assigned one of four rarity levels to unlock rewards. Chainlink VRF helps ensure each rarity tier is randomly assigned and the NFTs are provably rare.
BiggerMINDS Integrates Automation
DeFi platform BiggerMINDS has integrated Chainlink Automation on the Avalanche mainnet, in order to help update and distribute dynamic rewards to users.
“We’re excited to be using the industry-leading oracle network. Chainlink Automation is critical for helping create a consistent, reliable, and scalable rewards mechanism,” BiggerMINDS Founder and CEO Joma said.
The BiggerMINDS platform includes a utility token, NFTs and NFT marketplace. Dynamic rewards are calculated daily based on the performance of MIND+. Automation helps execute the daily reward calculation and trigger the distribution mechanism.
The PLEXUS cross-chain Decentralized Exchange (DEX) has integrated Chainlink Price Feeds to support swaps across networks including Ethereum, BNB Chain, Polygon, Fantom and others planned in the near future.
“By integrating, PLEXUS has access to high-quality, tamper-proof price feeds needed to stabilize price impact calculations in PLEXUS cross-chain swaps,” PLEXUS tweeted.
Last four weekly Chainlink Roundups:
- March 12: LendeXe, Planet IX, Sneaky Vampire Syndicate
- March 5: Base, Functions, Konnect, 0xCord
- Feb. 26: StarkNet, TrueUSD, Radiant, ETHDenver
- Feb. 19: LUXON, Zeta Markets, SmartCon 2023
What is Chainlink:
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries and offers global enterprises and leading data providers a universal gateway to all blockchains.