Chainlink Data Feeds Are Now Live on Starknet, Accelerating DeFi Development and Ecosystem Adoption Through the Chainlink SCALE program

Starknet developers can now build highly scalable and secure DeFi applications

SAN FRANCISCO, July 11, 2024 /PRNewswire/ -- Chainlink, the industry-standard decentralized computing platform, and Starknet, the secure scaling technology bringing Ethereum's benefits to the world, announced today that Chainlink Data Feeds, the industry-leading data solution for DeFi, are now live on Starknet mainnet.

Starknet is an ecosystem that helps developers to overcome Ethereum's scalability limitations while ensuring computational integrity. The addition of Data Feeds offers support for developers who are building highly scalable and secure DeFi applications on Starknet. The integration will help accelerate the growth of the Starknet ecosystem and scale DeFi on Ethereum—without compromising composability or security.

"We're pleased to support the Starknet ecosystem with the native integration of Chainlink Data Feeds, enabling developers to build highly secure and scalable DeFi applications," said Johann Eid, Chief Business Officer at Chainlink Labs. "With hyper-reliable, accurate, and decentralized market data natively accessible onchain, developers can create next-gen applications on Starknet."

Starknet previously joined Chainlink SCALE to gain enhanced access to Chainlink services and accelerate ecosystem growth and app development on its ecosystem. As part of the Chainlink SCALE program, the Starknet Foundation covers certain operating costs for Chainlink oracle nodes, equipping Starknet developers with access to low-cost Chainlink Data Feeds. This strategic partnership established an attractive landscape for Starknet developers by providing a data-rich, low-cost environment to build highly performant, increasingly complex, and secure smart contract applications.

Starknet is a permissionless Validity-Rollup on Ethereum that enables dApps to securely achieve massive computation scale. However, as is the case for all blockchain environments, smart contracts cannot natively access external data. Chainlink solves this problem by bringing highly accurate market data onchain in a highly secure manner.

"We're excited to integrate the industry standard Chainlink Data Feeds on Starknet," Diego Oliva, CEO at the Starknet Foundation. "Providing Starknet developers with highly secure, reliable, and accurate data will unlock a host of advanced DeFi use cases and drive the adoption of the Starknet ecosystem."

As the most widely adopted price data standard in Web3, Chainlink already helps secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans. Chainlink Data Feeds have enabled over $12 trillion in transaction value since the beginning of 2022 and have delivered over 12 billion data points securely onchain. The combined benefits of Starknet and Chainlink enable hyper-scalable, highly secure, and reliable DeFi applications that will help realize mass DeFi adoption and scale Ethereum.

About Starknet Foundation
The Starknet Foundation is a non-profit that is the steward of the Starknet Ecosystem, a fast and scalable L2 based on secure, future-proof ZK-STARK technology. Driven by the mission of creating a digital world built with integrity, trust and transparency at its core, The Foundation oversees the ongoing development, growth, and adoption of the ecosystem through a broad range of programs and partnerships aimed at creating a highly engaged community of developers, founders, and users. To find out more visit starknet.io

About Chainlink
Chainlink is the industry-standard decentralized computing platform powering the verifiable web. Chainlink has enabled over $12 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors.

Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link.

SOURCE Chainlink; Starknet Foundation