Acala Integrating Chainlink Oracle Pallet For Price Feeds For Upcoming Polkadot Launch
Through Chainlink, developers will be able to tap into decentralized price oracles for a wide range of asset prices that are backed by high-quality data, low latency updates, and robust underlying infrastructure optimized for availability and tamper-resistance.
The Chainlink Oracle Pallet is a runtime module that can be easily plugged into Acala, providing a straightforward approach for accessing Chainlink Price Feeds. Additionally, Acala has also integrated Chainlink Price Feeds into Karura, Acala’s sister-network on Kusama, where extensive stress testing has taken place in preparation for the Acala’s launch on Polkadot.
Acala is a multi-chain DeFi platform in the Polkadot ecosystem that helps users stake, swap, borrow, lend, earn, and otherwise put their tokens to work with minimal network fees. As a highly scalable, EVM-compatible network optimized to power a wide diversity of DeFi applications, developers can deploy innovative financial use cases that will benefit from Acala’s ability to blend the best of the EVM and Substrate worlds. Acala’s layer-1 chain will offer a broad suite of DeFi primitives to developers building on the platform, including a trustless staking derivative called Liquid DOT (LDOT), a multi-collateralized stablecoin backed by cross-chain assets called aUSD, and an AMM DEX called Acala Swap where fees can be paid in any token.
Chainlink Price Feeds offers following features:
— High-Quality Data
— Secure Node Operators
— Decentralized Network
— Economies of Scale
The Chainlink Oracle Pallet will set developers on Acala up for early success by eliminating go-to market time, reducing costs, and forgoing unnecessary risks around deploying your own oracle solutions.
About Chainlink
Chainlink is the industry standard oracle network for powering hybrid smart contracts. Chainlink Decentralized Oracle Networks provide developers with the largest collection of high-quality data sources and secure off-chain computations to expand the capabilities of smart contracts on any blockchain.
About Acala
Acala is a multi-chain decentralized finance network offering a DApp platform secured by Polkadot, as well as a suite of cross-chain financial applications that let users trade, issue self-serviced loans, become liquidity providers, access staking derivatives, and earn high-interest APY on their digital assets. The network is scalable, Ethereum-compatible, and optimized for DeFi.
