1 week ago
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A decentralized finance platform associated with upcoming US president Donald Trump would tie up a deal with a well-known oracle provider.
A strategic partnership is seen by many as an alliance that could play a pivotal role in transforming decentralized finance technology.
Trump Crypto & Access To DeFi Applications
World Liberty Financial announced that it has entered into an agreement with a well-established oracle provider Chainlink for data feed integration to the platform’s decentralized finance project.
The Donald Trump-backed decentralized finance platform said that with the Chainlink integration, the oracle provider’s price feeds would supply the platform with real-time and tamper-proof data.
In a press statement, World Liberty Financial said it aims to initiate the next wave of decentralized finance mass adoption, adding that Chainlink will give the platform the “security and reliability” it needs to achieve its goal.
World Liberty Financial Web3 Ambassador Eric Trump said that the partnership with Chainlink is a big leap for the platform. “Never before have we been more bullish on crypto or the overall future of DeFi technology,” Trump added.
The Chainlink adoption would begin with incorporating the Chainlink Price Feeds on the Ethereum mainnet with the World Liberty Financial Protocol. It is a step forward for the platform’s upcoming launch of the World Liberty Financial Aave v3 instance, which is still in the approval stage.
Access To DeFi Applications
In a press statement, World Liberty Financial said that the Protocol’s objective is to give users the opportunity to get information and gain access to third-party decentralized finance applications, a move that could further push the adoption of US dollar-based stablecoins and ensure that the greenbacks would still be the preferred currency of the world’s reserve.
It would allow Trump’s decentralized finance platform to become a pioneer in the decentralized finance DeFi space, drawing inspiration from Trump’s vision of more open access financial opportunities to keep the US dollar’s position in the global standing.
Chainlink Co-Founder Sergey Nazarov expressed their excitement with the alliance with World Liberty Financial and helped the platform in all their “data, cross-chain, and all other oracle network needs.”
“The Chainlink standard is already widely used across DeFi and will help WLFI attract users that value the security and reliability that has already helped grow DeFi as an industry,” Nazarov remarked.
Benefit Of Chainlink
World Liberty Financial said that Chainlink would provide them with access to “market-leading on-chain data and cross-chain interoperability infrastructure”, adding that it is also an ecosystem that boasts a transaction value of more than $16 trillion in transaction value.
With the help of the Chainlink Price Feeds, the has taken a crucial step that will enable the platform to launch the Aave v3 instance.
Chainlink’s track record in security was among the primary reasons why World Liberty Financial selected the oracle provider.
Featured image from Brandon Bell/Getty Images, chart from TradingView
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