Glitch Finance is integrating with Chainlink, a leading decentralized oracle network, in a deal that will enable the integration of Chainlink data and price oracles into its network. With this integration, Glitch Finance seeks to power the development of next-gen decentralized finance applications (dApps). Additionally, this collaboration will let Glitch Finance facilitate the migration of traditional financial assets into its platform.
Chainlink price feeds, which have attained widespread adoption over the years, will help Glitch Finance get full interoperability with other networks. On top of this, they will offer the network premium data at a slashed cost.
“It’s become clear that Chainlink is the standard oracle for decentralized financial applications. We’re building a layer-one blockchain that is purpose-built for DeFi, and integrating Chainlink price feeds for absolute definitive truth, and reliable price feeds across our ecosystem of financial applications simply makes sense,” Sean Ryan, Glitch Finance’s CEO. “We’re proud to name Chainlink as our preferred oracle, which will provide developers more options towards building more decentralized, sustainable, and rewarding solutions.”
Working to simplify product development on GLITCH
By integrating Chainlink’s price feeds into GLITCH, the first-ever highly-scalable blockchain-agnostic operating system for decentralized money markets, Glitch Finance will get 100% secure and accurate price feeds of all assets that flow through smart contracts.
Additionally, the platform’s revenue-sharing model will benefit from this integration, seeing as it will get greater efficiency and reliability. To this end, GLITCH will offer the standards of truth that are required by the trustless and permissionless applications it interacts with.
Apart from the GLITCH mainnet, Chainlink will also play a massive role in the upcoming Glitch Decentralized Exchange (GEX). The oracle network will help introduce unmatched speed and low transaction costs in real-time settlements.
At the moment, Glitch Finance is working on the launch of the GLITCH testnet, which is slated for June 30. After conducting relevant assessments on the testnet, Glitch will provide further details about its integration with Chainlink.
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