The latest crypto news show that the Chainlink price oracles are dominating the decentralized finance (DeFi) data feeds amid their new KyberSwap integration. They are quickly emerging as the industry standard data source for the DeFi sector and the top project Kyber Network is integrating the price feeds for its token swaps.
As we can see lately, the Chainlink price oracles are continuing to see widespread adoption among decentralized finance. It is the Kyber Network (KNC) that integrated the price feeds on its KyberSwap token swap service on June 12.
Furthermore, we can see that a blog post published by KyberSwap describes this integration as a way to protect users who execute token swaps from slippage, all while safeguarding against any price manipulation.
“KyberSwap is glad to work with a reputable project like Chainlink and its decentralized oracle network to provide reliable price feeds for our non-custodial token swap platform and improve the overall trader experience,” said the head of product at KyberSwap, Sunny Jain.
Additionally, the product manager at Chainlink, Johann Eid, noted that the Chainlink price oracles and Reference Data with KyberSwap has the potential of bringing more security and reliability to the price feeds their traders rely on for calculating slippage.”
The Chainlink price feeds are slowly becoming a great industry standard of the DeFi sector, with at least three decentralized finance projects have the company’s data only in June this year.
The Chainlink news on June 2 showed how AVA announced that it had begun integrating these feeds to make the price data available to developers building applications on the network ahead of the mainnet launch this season. Kevin Sekniqi who is the co-founder of AVA Labs recently spoke on the subject, noting:
“Chainlink provides access to the feeds of financial data and real-world information necessary to build new financial instruments and the next wave of decentralized finance. When you look at the outstanding growth of Ethereum’s DeFi community, it’s clear just how important powerful oracles can be when deployed by talented developers.”
The next day, we could also see the Ethereum powered decentralized exchange Opium rolling out the Chainlink price oracles and official support for the price data of the coin alongside its launch on the market.
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