Smart contract oracle network Chainlink kicked off the new year with new partnerships and services in various aspects of the crypto ecosystem.
Cash Flow Automation, NFTs, Database, Year in Review
The dominant smart contract oracle network, Chainlink, started 2023 the same way it ended 2022 – by building relationships across the Web3 sector.
In this week’s recap:
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Cask introduces Chainlink top-ups
Cask Protocol, a participant in the Chainlink BUILD program, introduced a new Web3 cash flow automation called Chainlink Top-Ups to ensure protocols using Chainlink automation and VRF always have a decent balance of $LINK.
“Cask itself relies on Chainlink for services like automation and price feeds. As we tried to increase the reliability and optimization of our protocol, it became clear that we needed a way to automatically top up our LINK balances,” reads a Cask blog post. “While Cask originally developed the top-up solution for their own use, it is now available as a general good for all Web3 creators that rely on Chainlink services.”
Users can pay for top-ups using stablecoins. Cask supports top-ups on Arbitrum, Avalanche, BNB Chain and Polygon.
1/ New automation! Chainlink top-ups. Cask monitors a project’s LINK balance on a given Chainlink service, and when that balance falls below a defined threshold, Cask automatically exchanges stablecoins for LINK and deposits it into the Chainlink service. https://t.co/hHbDiKXoh7
— Cask Protocol (@caskprotocol) January 3, 2023
NFT game on polygon
Non-Fungible Token (NFT) Launchpad and Marketplace OnePlanet has integrated Chainklink VRF to run Randombox NFT for horse-themed NFT game Derby Stars.
“As an NFT launchpad and marketplace, we are excited to use Chainlink VRF. Users are increasingly demanding proof of randomness, and Chainlink VRF is the industry’s most reliable, secure, and transparent RNG solution,” said Pryce Cho, CEO of OnePlanet, in a Medium post.
VRF ensured fairness and transparency in unveiling 1,000 Derby Stars NFTs on Polygon.
“It’s easy to see why Chainlink VRF is the industry standard RNG. With evidence published on-chain, it helps users verify that our Randombox NFT disclosure mechanism is underpinned by verifiable randomness.” Derby Stars Founder/CEO Sean Hahm said.
Kwil joins BUILD
Kwil has joined the Chainlink BUILD program to accelerate the launch of its permissionless relational database for the decentralized internet.
“We are excited to join Chainlink BUILD, which will expand the use cases and benefits of Kwil. The Chainlink network underpins the Web3 data ecosystem and facilitates the on-chain transfer of large amounts of off-chain data,” said Kwil founder Brennan Lamey in a Medium post. “Kwil extends Chainlink’s mission of decentralized data access by providing critical storage infrastructure for next-gen oracles, dApps and smart contracts.”
Kwil is a protocol for designing, building, and deploying permissionless databases. Data providers and smart contract developers can use Kwil to store large amounts of structured data off-chain without sacrificing decentralization.
For example, Chainlink BUILD program participant, Truflation, will use Kwil to store, manage, and process its inflation data relational database systems.
By joining BUILD, Kwil will connect to the Chainlink ecosystem and gain enhanced access to technical support. In return, Kwil will hand over part of its token delivery to the Chainlink network.
Chainlink milestones from 2022
On the last day of 2022, Chainlink’s Twitter account published a thread summarizing the year’s accomplishments.
Highlights include:
- Over $6.9 trillion in transaction value
- Over 5.8 billion data points delivered
- Over 700,000 checks to prove reserves
- Chainlink Economy 2.0
- BUILD and SCALE programs
- Chainlink Staking v0.1
- Hackathons, Meetups, SmartCon 2022
- SWIFT proof of concept
The last four weekly Chainlink roundups:
- December 31: Blueberry, Magpie, Galileo, Fuse Gold
- Dec 25: Aave, Robodex, FSN, VenturePunk
- Dec 18: AOMEtaverse, Coinbase Cloud, Arbitrum, T-Systems
- December 11: Staking, Hackathon, BBA, Catheon, WigoSwap
What is chain link:
Chainlink is the industry standard for building, accessing and selling oracle services required for hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations to enable feature-rich applications. Chainlink currently secures tens of billions of dollars in DeFi, insurance, gaming and other major industries, providing global corporations and leading data providers with a universal gateway to all blockchains.
Where can I find Chainlink:
Website | Twitter | Documents | community
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