Many prominent DeFi platforms, such as Base, Aave, Synthetix, and Compound, rely on Chainlink for accurate market data.
Key Takeaways
- Sonic Labs now utilizes Chainlink Data Feeds and CCIP for enhanced network functionality.
- Chainlink's integration supports robust, secure cross-chain applications for Sonic developers.
Sonic Labs, formerly known as Fantom Foundation, has joined the Chainlink SCALE program, incorporating Chainlink Data Feeds and Chainlink CCIP into the Sonic network, according to a press release shared by Chainlink. The move aims to accelerate the growth of the Sonic ecosystem, providing developers with essential tools to create advanced on-chain applications.
“By empowering Sonic developers with increased access to Chainlink services, they’re able to build secure, scalable, and fully-featured on-chain apps,” said Johann Eid, Chief Business Officer at Chainlink Labs.
The integration of Chainlink Data Feeds and Chainlink CCIP will help Sonic developers to access high-quality, low-cost oracle services and build innovative, secure dApps without the burden of upfront costs. Costs for these services will initially be covered by Sonic, transitioning to user fees as the ecosystem matures.
Michael Kong, CEO at Sonic Labs, said the integration aims to meet the demand within their developer community for reliable Chainlink services, which are now integral to developing high-quality DeFi applications and ensuring robust blockchain interoperability.
“Chainlink Data Feeds will enable the development of high-quality DeFi applications, while CCIP will provide secure and reliable blockchain interoperability for the Sonic ecosystem. Developers asked for Chainlink, and we have it.”
Chainlink Data Feeds have established a proven track record of reliability. The product is widely used by leading DeFi protocols, such as Starknet, Base, Aave, Synthetix, and Compound.
According to Chainlink, these feeds are crucial for maintaining security and availability in leading DeFi protocols, which handle substantial smart contract values. They benefit from multiple data sources, ensuring accurate, manipulation-resistant market prices.
Meanwhile, Chainlink’s CCIP is recognized for its top-tier security and reliability. Its integration could help enhance Sonic’s interoperability capabilities, Chainlink noted.
The team added that CCIP’s comprehensive security measures, coupled with the Risk Management Network, provide a solid foundation for secure, cross-chain applications.
Chainlink offers a range of products and services designed to enhance the functionality of smart contracts and dApps across various blockchain ecosystems. Besides its Data Feeds and CCIP, the firm is also known for its Data Streams and Verifiable Random Function (VRF).
Chainlink recently introduced its Data Streams and VRF on Base, expanding access to low-latency data and secure random number generation for developers.
Chainlink’s Proof of Reserve (PoR) is also one of its outstanding services. The solution has been trusted by several leading projects and institutions, including 21Shares and the Bancolombia Group, Colombia’s largest bank.
