Zenlink, a popular decentralized exchange powered by Polkadot, has joined hands with blockchain oracle firm Chainlink. Chainlink is known for its live data feeds and oracles used for smart contracts. Zenlink would also leverage Chainlink’s oracles for its numerous DeFi products.
Oracles play a crucial role in smart contract programming and execution, making it a core product/service in the DeFi ecosystem. Live market data helps in seamless execution and secure transactions.
Zenlink aims to make the most of this partnership and expand the quality and quantity of services it offers. Currently, the DEX platform allows traders to swap their assets on parachains seamlessly. These oracles would make their financial products more robust and reliable. Zenlink hopes for reliability and security due to the oracle would also attract new traders to the platform.
Guo Tao, Zenlink Co-founder, commented on their recent partnership with chainlink and its importance.
“Zenlink will play a critical role in allowing users and developers to swap assets across parachains securely.
Chainlink’s high-quality data and reliable oracle infrastructure will enable feeders to trust the data feed used to trigger DeFi products built on Zenlink.
This enhances our ability to scale and secure even more value across a wider variety of assets.”
Chainlink One of the Key Oracle Partner in the DEX Ecosystem
Zenlink’s association with Chainlink came as no surprise as more DEX platforms are looking to integrate and leverage live data feeds and oracles into their systems. Chainlink, being a reliable name with a tested record, has become a key player in the DEX market.
Apart from Zenlink, another Polkadot powered platform known as Equilibrium has also brought Chainlink on board to provide decentralized live feeds. Equilibrium also plans to utilize the decentralized oracles to enhance its financial products and services.