Celer Network Integrates Chainlink Price Feeds For CELR

Celer announced to sponsored the launch of new Chainlink Price Feeds, which will serve as decentralized price oracles for the CELR token. Through support from the industry-leading oracle network, DeFi protocols on Ethereum, Arbitrum, and more in the future will be able to quickly and securely add support for the CELR token such as within decentralized lending protocols, insurance protocols, and decentralized exchange (DEX) platforms. Ultimately, this will expand the utility of CELR and help accelerate its integration across DeFi and different blockchains.

While integrating across various layer-1 DeFi protocols and blockchains in Celer’s layer2.finance, we realized the need for decentralized price oracles for our native CELR token.

Additionally, on-chain price feed is very much helpful to convert cBridge and layer2.finance’s on-chain transaction costs to the fee token being used in DeFi protocols or bridged across chains, for example CELR.

Chainlink Price Feeds provide:

— High-Quality Data
— Blockchain Agnostic
— Robust Infrastructure
— Transparent Monitoring

About Celer Network

Celer Network is the most advanced layer-2 scaling platform to build fast, easy-to-use, low-cost and secure blockchain applications at internet scale. Celer was founded by experienced entrepreneurs with PhDs degrees from MIT, Princeton, UC Berkeley and UIUC and has a fast-growing all-star team with years of engineering, product, user growth and marketing experience from tech giants like Google, Amazon, Cisco, Oracle, HP and more.

About Chainlink

Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.

➡️Source:
https://blog.celer.network/2021/11/19/celer-sponsors-chainlink-price-feeds-for-celr-expanding-its-support-across-defi/

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