Originally published on: October 31, 2024
Tron’s decentralized autonomous organization (DAO) and blockchain oracle provider, Chainlink, have made a significant announcement regarding the Tron blockchain’s oracle solution. The shift from WinkLink to Chainlink Data Feeds is set to enhance the decentralized finance (DeFi) ecosystem on Tron.
With popular DeFi applications JustLend and JustStable collectively holding over $6.5 billion in total value locked, the integration of Chainlink’s data oracles is expected to streamline pricing data for users. Tron’s participation in the Chainlink Scale program will further accelerate ecosystem growth and adoption, according to the announcement.
Thodoris Karakostas from Chainlink Labs expressed excitement about empowering Tron ecosystem developers to create innovative DeFi apps. The integration aims to advance the decentralized internet and enhance the Tron DeFi economy, as highlighted by Sam Elfarra, the community spokesperson at Tron DAO.
Tron founder, Justin Sun, emphasized the new opportunities that the integration will bring to Chainlink, Tron-based stablecoins, and real-world assets. Additionally, Tron’s memecoin ecosystem continues to drive revenue, with the SunPump launchpad contributing to a record-high revenue of $151.2 million in the third quarter.
Despite a slight decline in new token launches on SunPump in September, the overall growth in Tron’s DeFi transactions signals a promising future for the platform. Stay updated on the latest DeFi developments by subscribing to the Finance Redefined newsletter for valuable insights and opportunities in the ever-evolving crypto space.
