Monad, a layer 1 blockchain built for high performance and compatible with the Ethereum Virtual Machine (EVM), is an official member of the Chainlink scale program. Through the partnership, Monad will implement the Oracle Services of Chainlink, including data feeds, data flows and the CRCIP protocol, on its test network. This means that developers who build on Monad have access to more accurate and reliable market data without trusting third parties.
By providing the sabotage resistant price and market knowledge, this integration can increase user confidence and release the road for wider acceptance. The data feeds from Chainlink make data delivery possible at low costs and with lower latency. For Defi projects that need speed and efficiency, this can be a must-have solution. CCIP, on the other hand, causes cross-chain transfers from tokens with specific instructions on the target blockchain.
Cap has already used Chainlink Oracles on Ethereum to ensure that the CUSD price remains transparent and cannot be manipulated. Cap’s actions are a real example of how Chainlink can directly build trust in Defi projects. At the time of writing, Link is traded at $ 14.61, an increase of 11.83% in the last 24 hours, which pushes market capitalization beyond $ 9 billion.
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