A serious concern for DeFi dApp developers includes accessing market data. As not all market data are usually available within a network, Radix dApps will ensure that developers have easy access to off-ledger sources. Oracles interfaces off-ledger APIs by providing off-ledger data natively available within the ecosystem.
In a statement, Piers Ridyard, CEO of the firm, said:
“Giving Radix developers access to a wide range of high-quality data is vital to our mission of providing the best infrastructure to build next-generation DeFi products. Chainlink’s price oracles enable Radix developers to offload complex and time-consuming oracle infrastructure to industry experts, allowing our ecosystem to focus solely on designing smart contract applications that re-architect the global finance system.”
Chainlink will provide accessibility for off-ledger data to help developers in building dApps and other DeFi products within the ecosystem. Also, Radix finds Chainlink as the best oracle provider during its search for the best oracle solutions.
Daniel Kochis, Head of Chainlink Business Development said:
“We’re excited to empower developers to build next-generation DeFi applications on Radix’s innovative layer-1 protocol by providing them with secure and reliable oracle solutions. By making in-demand market data accessible via Chainlink oracles, we’re confident that the Radix platform can support a plethora of new data-driven financial products for both crypto and traditional asset markets.”
Through accessing high-quality market data in a highly available and tamper-resistant manner. Radix developers can start building a wide range of DeFi applications which includes financial derivatives, decentralized lending products, and asset management services.
The central focus of the platform includes integrating Chainlink’s price feeds, as already used by top DeFi applications like Synthetix, Aave, and Bancor.