Radix to Integrate Chainlink for Developer Accessibility Purposes

Radix, the self-described “first layer-1 protocol built specifically for decentralized finance,” has revealed it will integrate within Chainlink to “make DeFi oracles easily accessible to developers,” according to a press release from the group.

These oracles will ensure developers on the Radix platform rebuild traditional finance services on the blockchain as decentralized applications.

“A key need for DeFi application developers is access to market data,” the release continues. “Because not all market data is inherently available within the network itself, Radix dApps need to access off-ledger sources to obtain such information. Oracles solve this problem by interfacing with off-ledger APIs to make off-ledger data natively accessible within Radix. After reviewing oracle solutions, Radix selected Chainlink to open up a variety of data types. The company’s immediate focus will be integrating Chainlink’s widely used price feeds, which already service many top DeFi applications including Synthetix, Aave, and Bancor.”

Speaking on the matter is the CEO of Radix, Piers Ridyard, who said:

“Giving Radix developers access to a wide range of high quality data is vital to our mission of providing the best infrastructure to build next generation DeFi products. Chainlink’s price oracles enable Radix developers to offload complex and time-consuming oracle infrastructure to industry experts, allowing our ecosystem to focus solely on designing smart contract applications that re-architect the global finance system.”