Chainlink Oracles Go Live on Arbitrum One
- After four months on the Arbitrum testnet, Chainlink Price Feeds have gone live on Arbitrum One.
- The integration will enable Arbitrum developers to access high-quality, secure data feeds.
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Arbitrum One, an Optimistic Rollup Layer-2 scaling network, announced it has integrated Chainlink’s decentralized oracle service to its platform. In a press release published on 12 August, the company said that the initial integration will involve native support for the USD-denominated Chainlink Price Feeds, while new price pairs and other types of data feeds will be introduced in the coming weeks. The integration comes after four months of testing the Price Feeds on the Arbitrum testnet.
On top of Price Feeds, Chainlink also plans on offering additional services on Arbitrum One. In the coming months, Chainlink will offer Chainlink Verifiable Random Function (VRF) to provide on-chain gaming dApps and NFTs with provably fair random numbers, the Chainlink Proof-of-Reserve (PoR) to audit the collateralization of tokenized assets, as well as the ability to call any web API.
“We’re excited to support Arbitrum One by providing the most secure and reliable oracle services to the hundreds of projects building highly scalable and low-cost smart contracts on the Layer-2 Arbitrum network,” stated Sergey Nazarov, Co-founder of Chainlink.
He added that the native deployment of Chainlink oracles will provide Arbitrum developers with direct access to Chainlink’s frequently updated data feeds while maintaining an extremely high level of security—enabling the creation of more advanced hybrid smart contracts. Aave, MCDEX, and Tracer DAO have all announced they will be using Chainlink Price Feeds within their Arbitrum deployment.
- A hacker was able to manipulate the price of the AllianceBlock token on BonqDAO, which allowed him to drain close to $90 million worth of crypto from the protocol.
- Both platforms have paused their services, and are currently in the process of removing liquidity as to hinder the hacker’s ability to convert the stolen tokens.
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- Chainlink Staking v0.1 is now available on the Ethereum mainnet to a limited number of users, but will be opened to the general public on 8 December.
- The new feature includes a LINK staking pool with 25 million token cap, which aims to secure the ETH/USD price feed within the Ethereum mainnet.
- The proof-of-concept project will see SWIFT use Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to connect to most blockchain environments.
- CCIP will allow the interbank messaging system to instruct on-chain token transfers, further accelerating the adoption of blockchain technology.