Chainlink Price Feeds Live on Fantom Testnet, Supporting High-Throughput DeFi Development
We are excited to announce that Chainlink Price Feeds are now live on Fantom testnet, enabling Fantom developers to begin building and testing a wide variety of DeFi applications reliant on high-quality, tamper-proof price reference data. This integration was made possible by the Chainlink Community Grant Program, which awarded a grant to block42 to perform the development work. Block42 is actively working to launch Chainlink Price Feeds on Opera mainnet in the near future.
Chainlink Price Feeds are natively accessible to Fantom developers, meaning they run at the native speed and costs of Fantom, ultimately empowering highly scalable, low-cost, and externally connected DeFi products and markets. We recommend all Fantom developers needing an oracle solution to use Chainlink, as it’s the most time-tested oracle infrastructure in the market and has a strong track record of reliability during extreme market conditions.
The Chainlink Price Feeds currently available on the Fantom testnet include FTM/USD, ETH/USD, LINK/USD, BTC/USD, USDT/USD, BTC/ETH, and LINK/ETH. They are secured by a decentralized oracle network made up of numerous Sybil-resistant node operators, who source prices from high-quality data aggregators to maintain extensive market coverage across all trading environments. This framework ensures price data is accurate, manipulation resistant, and consistently up-to-date, proven to be resistant to exchange downtime, periods of high volatility, and data manipulation attacks like those executed using flash loans.
We encourage Fantom ecosystem developers to start testing and building today using the Chainlink developer documentation.
Fantom is one of the most attractive networks for developers and end-users alike. Its one-second finality and near zero transaction fees, paired with EVM-compatibility, enable developers to experiment with things that weren’t possible before. Likewise, end-users can finally use DeFi without the burden of high costs and with a renewed user experience.
Data and network activity support this thesis; more than 11,000 smart contracts have been deployed on Fantom, a growth of 5000% over 6 months. The unique wallets count increased exponentially as well, standing at 195,000, 3000% more compared to 6 months ago. The network is generating close to 500,000 transactions daily.
“We’re excited to open up a new era of DeFi in the Fantom ecosystem thanks to a native integration of Chainlink; a direct by-product of the Chainlink Grant Program. With Chainlink Price Feeds soon to be running on the Opera mainnet, Fantom developers have direct access to premium, flash-loan resistant price data, which can be leveraged in a scalable, low-cost manner to support a wide range of DeFi applications. This allows developers to focus on building their core products, knowing their oracle mechanism is taken care of by industry’s most secure and reliable infrastructure.” — Michael Kong, CEO of Fantom
Once live, we will look to continually launch new Chainlink Price Feeds to cater to Fantom’s growing ecosystem demands. We will also look to expand support for additional oracle services beyond price data in the future, enabling Fantom to support a wider range of applications beyond DeFi.
About Chainlink
Chainlink is the industry standard oracle network for powering hybrid smart contracts. Chainlink Decentralized Oracle Networks provide developers with the largest collection of high-quality data sources and secure off-chain computations to expand the capabilities of smart contracts on any blockchain. Managed by a global, decentralized community, Chainlink currently secures billions of dollars in value for smart contracts across decentralized finance (DeFi), insurance, gaming, and other major industries.
Chainlink is trusted by hundreds of organizations, from global enterprises to projects at the forefront of the blockchain economy, to deliver definitive truth via secure, reliable oracle networks. To learn more about Chainlink, visit chain.link, subscribe to the Chainlink newsletter, and follow @chainlink on Twitter. To understand the full vision of the Chainlink Network, read the Chainlink 2.0 whitepaper.
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About Fantom
The Fantom Foundation is committed to building technology that is open-source, decentralized Dag-based distributed ledgers. We aim to create fast, secure, and scalable technologies across a wide range of industries, allowing organizations, businesses, and individuals to develop decentralized and secure applications, solving real-world problems.
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