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Chainlink and Celo Collaboration Bolsters DeFi App Development

Web 3 data provider Chainlink's data feeds are now live on the Celo mainnet, paving the way for advanced DeFi application development.

Chainlink data feeds integration with Celo for enhanced DeFi applications.

In a game-changing move for decentralized finance (DeFi), Web 3 data provider Chainlink's data feeds have now been activated on the Celo mainnet. According to a press release on Wednesday, this integration enables developers to build sophisticated DeFi applications by providing access to critical data and services. Notably, Chainlink will now deliver data directly and securely to Celo's blockchain.

Xochitl Cazador, the Head of Ecosystem Growth at the Celo Foundation, lauded the integration, stating, "Chainlink data feeds will empower Celo developers, providing critical access to oracle data and services and bolster Celo’s dApps [decentralized applications] to drive real-world impact and solutions."

The mobile-first blockchain platform, Celo, had joined the Chainlink Scale in April. This program allows Celo to utilize Chainlink’s oracle services at a relatively low cost by paying with its native CELO token. The decision to join Chainlink Scale received a positive response from the Celo community, which voted overwhelmingly in favor of the move. This integration marks a significant stride in advancing DeFi application development, bringing forth real-world solutions.