We’re excited to announce that Seeded Network — a project incubator with a unique borrowing and lending solution — will be one of the initial projects to integrate Chainlink Price Feeds on Solana mainnet. By integrating the industry-leading decentralized oracle network, Seeded Network has access to high-quality, tamper-proof price feeds needed to provide users with accurate market rates. This will provide stronger assurances that loans are issued at fair market prices and liquidations are in accordance with current market conditions, helping keep lenders’ solvents and borrowers safe from faulty liquidations.
Our initial integration involves the use of the following Chainlink Price Feeds:BTC/USD ETH/USD SOL/USD USDC/USD
We can easily scale up support for more Chainlink Price Feeds in the future to service increased market demand.
We chose Chainlink as our go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. Chainlink already helps secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans. Importantly, Chainlink Price Feeds are natively integrated on Solana, meaning they have no external dependencies on other blockchains.
Our borrowing and lending DeFi product will be incorporated into Seeded Network’s main product, the project incubator. Participants can contribute to incubator projects as normal, or they can borrow assets from Seeded Network’s locked lending product to receive a 2x allocation for increased exposure. Users can also derisk by lending BTC, ETH, SOL, or USDC to participate in the incubation fundraising.
After reviewing various oracle solutions, we decided...