Polkadot DOT/USD is preparing for the launch of numerous parachains that will set the foundation for its interoperable blockchain ecosystem.
Acala, the DeFi hub built on Polkadot, is one of the first parachains expected to go live. Its DeFi platform helps people stake, swap, borrow, lend and earn with minimal gas fees.
Oracles provide key inputs like asset prices and market information needed to perform critical functions and are an important piece of infrastructure for the Acala DeFi parachain.
Acala is actively integrating Chainlink LINK/USD Price Feeds, which will give developers access to decentralized oracle solutions upon launch. Through Chainlink, developers will be able to tap into decentralized price oracles for a wide range of asset prices.
The Acala and Chainlink teams have been working to ensure the security of the integration. Progress has been accelerated by the launch of the Chainlink Oracle Pallet, a plug-and-play solution for connecting Chainlink Price Feeds to any blockchain built with Polkadot’s Substrate.
The Chainlink Oracle Pallet will position developers on Acala for early success by eliminating go-to market time, reducing costs and forgoing unnecessary risks around deploying other oracle solutions.
DOT, LINK Price Action: Polkadot is up 201.83% year-to-date. Chainlink is up 142.76% year-to-date.
Photo: courtesy of Chainlink.
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