Chainlink price oracles continue to be widely adopted among the decentralized finance protocols, or DeFI, as Kyber Network (KNC) has integrated price feeds into its KyberSwap token swap service on June 12.
KyberSwap is at least the third DeFi platform to integrate Chainlink price data this month, indicating Chainlink’s growing dominance over the niche market.
The price references shown for token exchanges on the platform are now derived from both the native Kyber Network indices and the Chainlink oracles.
The centralised exchange of crypto currency futures integrates the Chainlink price oracles
KyberSwap integrates Chainlink pricing data
A blog post published by KyberSwap describes integration as protecting users who execute token exchanges from slippage, while also gaining protection from price manipulation.
„KyberSwap is pleased to work with a renowned project like Chainlink and its decentralized network of oracles to provide a reliable price index for our non-custodial token exchange platform and improve the overall trader experience,“ said KyberSwap’s Product Manager, Sunny Jain.
„We are excited to integrate Chainlink’s price reference data with KyberSwap to bring more security and reliability to the prices that your traders rely on to calculate slippage,“ said Johann Eid, Chainlink’s product manager.
The crypto coin price oracles are about to become „unstoppable“
Chainlink price oracles dominate DeFi
Chainlink pricing is rapidly becoming the industry standard in the DeFi sector, and at least three decentralized financing projects have already incorporated the company’s data since June.
On June 2, AVA announced that it had begun integrating Chainlink data to make it available to developers building applications on the AVA network prior to their launch on the main network this season.
Speaking to Cointelegraph, Kevin Sekniqi, the co-founder of AVA Labs, said: „Chainlink provides access to sources of financial data and real-world information needed to build new financial instruments and the next wave of decentralized funding.
AVA integrates with price and data oracles in the Chainlink market
„When you look at the outstanding growth of the Ethereum DeFi community, it is clear how important powerful oracles can be when implemented by talented developers.
The next day, the decentralized exchange Opium, powered by Ethereum (ETH), also implemented support for Chainlink pricing data in conjunction with the main network launch.