Chainlink Link Puzzle

ChainLink (LINK) Users Awaiting Staking as the Important Part in the Puzzle

January 12, 2021 Off By James

ChainLink (LINK) are consistently doing their job of launching secure price oracles for in-demand assets thus keeping in pace with DeFi’s growth.

ChainLink states that one import, one constructor, one function that’s all your smart contract needs to retrieve reliable, accurate price data from Chainlink’s decentralized oracle network.

Chainlink are continuing to expand the possibilities for DeFi by supporting unique price feeds for major asset pairs. USD-denominated price oracles are already live for many leading foreign exchange rates that dApps can integrate today, such as AUD, EUR, CHF, GBP, & JPY.

Sergey Nazarov tweeted:  Implicit staking and explicit staking are both powerful cryptoeconomic forces. While implicit staking creates guarantees about adherence to a protocol generally, explicit staking creates specific guarantees about fulfilling individual contract requests.

He has also stated that mplicit staking has already created significant security for various protocols like Bitcoin, with the assets that miners risk through holding BTC & mining equipment (future BTC) creating an incentive for adherence to the proper operation of the protocol.

Link users are awaiting staking as they believe it provides passive income and that staking is an important part of the Chainlink puzzle. Some of them have to state that they are waiting to use LINK to create specific guarantees about fulfilling individual contract requests.

ChainLink Integrations (LINK)

Twelve Data, Premium financial market data provider will run their own Chainlink oracle node to supply smart contracts across blockchain networks with high-quality, cryptographically signed data on stocks, forex, crypto, and various other financial assets.

Warpfinance are set to relaunch their Liquidity Provider capital market with ChainLink Price Feeds to provide high-quality, tamper-proof data sources and broad market coverage, ensuring user funds are secured against flash loan exploits and oracle manipulation.

QuiverX5, Decentralized crowd funding platform are planning to integrate a custom ChainLink Proof of Reserve oracle solution that provides quarterly revenue data on-chain for SMEs it lists, enabling more transparent and sound evaluations of early-stage companies.

Mettalex has expanded its Chainlink integration, now leveraging a multitude of additional Price Feeds on Ethereum & Binance Smart Chain to support new DeFi markets for cryptocurrencies, fiat currencies, indices, commodities, and more.

LE7EL, on-chain gaming platform are using ChainlinkVRF live on mainnet to determine the outcome of chance-based games in a provably fair, unbiased, & tamperproof manner. They are also using the Chainlink Alarm Clock to set a 24-hour countdown on-chain.

CrescoFinSA, a DeFi protocol for insured, interest-bearing deposit products, are integrating ChainLink to access secure and reliable data on-chain regarding the off-chain delivery of goods and off-chain reserve balances/insurance backing tokenized invoices.

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