Tron’s DeFi ecosystem set for a boost with Chainlink collaboration Technology 58 seconds ago

Tron founder Justin Sun said the blockchain’s integration of Chainlink would present significant opportunities for the two networks to grow in the stablecoin and real-world asset sector.In an Oct. 31 post on X, Sun stated:“[Tron] has joined Chainlink Scale, adopting Chainlink Data Feeds as TRON’s official oracle. Once upgraded, $6.5B+ in DeFi TVL will be secured by Chainlink, creating opportunities for Chainlink and TRON’s $60B+ in stablecoins and RWA!”Through the Chainlink Scale Program, Tron aims to expand its ecosystem by leveraging Chainlink’s reliable Oracle services.To support this integration, Tron will initially cover certain Chainlink Oracle operating costs, such as transaction gas fees. Over time, these costs will gradually shift to dApp users.This transition means that Tron will soon phase out its existing Oracle solution, WINkLink, in favor of Chainlink’s Data Feeds.Chainlink’s data feed is an essential blockchain tool that connects smart contracts and real-world data, like asset prices. The Oracle network ensures reliable data delivery by gathering information from various sources through a decentralized network of independent node operators.Several DeFi applications across different blockchain networks, including Ethereum, rely on this price feed to ensure smooth operations of their services.The shift means that Tron’s flagship DeFi platforms, including JustLend and JustStable, holding around $6.5 billion in total value locked (TVL), can access reliable pricing data through Chainlink’s platform.Thodoris Karakostas, Head of Blockchain at Chainlink Labs, emphasized the role of Data Feeds in fortifying Tron’s DeFi economy. He remarked:“By delivering highly reliable, accurate, and decentralized market data onchain, Chainlink will further empower TRON ecosystem developers to build next-gen DeFi applications and advance the decentralized internet.”Sam Elfarra, a spokesperson for Tron DAO Community, expressed optimism about the program’s impact, stating that it will drive the network’s DeFi sector forward. He highlighted that developers will now gain access to high-quality data oracle solutions to support the network’s ecosystem expansion and adoption goals.Oluwapelumi values Bitcoin’s potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.Also known as “Akiba,” Liam Wright is the Editor-in-Chief at CryptoSlate and host of the SlateCast. He believes that decentralized technology has the potential to make widespread positive change. Your daily dose of must-have crypto news and deep dives. Direct to your inbox.Lido’s Chainlink integration transforms staking, providing users with direct access to wstETH on Arbitrum, Base, and Optimism.Australia and New Zealand Banking Group (ANZ) is the first financial institution to embrace Chainlink’s CCIP Private Transactions.Ronin bets on Chainlink for enhanced bridge security after major security challenges.ANZ Bank is exploring blockchain for tokenized assets in major global initiative.Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.