Monad, a Layer 1 blockchain built for high performance and compatible with Ethereum Virtual Machine (EVM), has officially joined ChainLink’s scale program. Through the partnership, Monad will implement ChainLink’s Oracle services, such as data feeds, data streams, and cross-chain CCIP protocols, into the testnet. This means that developers building in Monads can access more accurate and reliable market data without relying on third parties.
By providing tamper-proof prices and market knowledge, this integration can increase user trust and pave the way for wider adoption. ChainLink data feeds provide low cost and low latency for data delivery. For Defi projects that require speed and efficiency, this may be a must-have solution. CCIP, on the other hand, allows for cross-chain transfer of tokens containing specific instructions to the target blockchain.
CAP already uses chain link oracles on Ethereum to ensure that CUSD prices remain transparent and cannot be operated. Cap’s actions are real-life examples of how ChainLink builds trust directly into Defi projects. At the time of writing, Link has increased 11.83% to $14.61 over the last 24 hours, pushing its market capitalization by over $9 billion.
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