All Price Reference Oracle Networks Powered by Chainlink in One Location
The DeFi ecosystem now has access to the largest collection of on-chain market data in the entire existence of building open financial products on Ethereum! With over 25 Decentralized Oracle Networks now live on Ethereum Mainnet and in use by leading DeFi applications like Synthetix, we can now say that the DeFi space is slowly growing with the help of high-quality on-chain data.
Use the new Chainlink Price Reference Data For DeFi to explore and gain access to this growing list of cryptocurrency, fiat currency, and commodity prices available on-chain and secured by Chainlink’s decentralized oracle networks.
Collectively, these decentralized oracle networks secure over 100M USD in value for a variety of leading DeFi products across numerous financial markets, such as ETH/USD, BTC/USD, XAG/USD, MKR/ETH, and more.
Chainlink’s Price Reference Data oracle networks vastly expand the amount of secure and reliable data accessible to Ethereum Dapps, greatly accelerating the rate at which new DeFi products can be successfully launched. Chainlink Decentralized Oracle Networks for Price Reference Data are a shared community resource supported by its users, who pay less for using these oracle networks than it would take for them to broadcast the same data individually, while benefiting from a significant increase in the security created by the decentralization of oracle networks.The Need for Chainlink Reference Data
DeFi requires constant access to real-time market data, especially prices, to reliably execute the logic underpinning applications. For instance, money (Ampleforth), derivatives (Synthetix), lending (Aave), and decentralized exchange (Loopring) protocols are all examples of applications that need to quickly know the price of certain assets before performing a core on-chain function.
Even if the contract logic is composed of hi...