Monad, a Layer 1 blockchain built for high performance and compatible with the Ethereum Virtual Machine (EVM), has officially joined Chainlink’s SCALE program. Through the partnership, Monad will implement Chainlink’s oracle services, including data feeds, data streams, and the cross-chain CCIP protocol, on its testnet. This means that developers building on Monad will have access to more accurate and reliable market data without relying on third parties.
By providing tamper-proof price and market knowledge, this integration can increase user trust and pave the way for wider adoption. Chainlink’s data feeds enable data delivery at a low cost and with reduced latency. For DeFi projects that need speed and efficiency, this may be a must-have solution. CCIP, on the other hand, allows for cross-chain transfers of 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-life example of how Chainlink can directly build trust in DeFi projects. At the time of writing, LINK is trading at $14.61, up 11.83% in the last 24 hours, pushing the market cap past the $9 billion mark.
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