As a seasoned analyst with over two decades of experience in the financial industry, I find myself continually impressed by the rapid evolution and innovation happening within DeFi and blockchain technology. The announcement of World Liberty Financial (WLFI) integrating Chainlink’s price feeds is yet another testament to this exciting development.
Donald Trump’s post-election financial platform, World Liberty Financial, has revealed plans to incorporate Chainlink’s pricing data services. This move aims to offer reliable, tamper-resistant, and up-to-date information to their decentralized finance (DeFi) initiative.
As stated in a declaration made on November 14th, WLFI is set to utilize Chainlink oracles on the Ethereum primary network to initiate their platform. This integration will be based on an Aave V3 instance. After the connection is established, Eric Trump, who serves as Web3 ambassador at World Liberty Financial and the son of the incoming President, commented on this development as follows:
“World Liberty Financial’s partnership with Chainlink marks a huge step forward. Never before have we been more bullish on crypto or the overall future of DeFi technology.”
The decision by WLFI to adopt Chainlink as their oracle supplier comes after a successful trial run with the SWIFT interbank messaging system and ongoing expansion of the Chainlink network.
Chainlink continues to be dominant Oracle provider
In November 2024, Chainlink completed a trial run of its tokenization project with global banking giant UBS, the Monetary Authority of Singapore (MAS), and SWIFT. The trial aimed to assess tokenized fund transfers between these entities and included settlement choices in currencies other than blockchain-based ones.
Just prior to wrapping up the initial project, the TronDAO, which oversees the Tron blockchain, declared their decision to utilize Chainlink as their data provider for price-related information.
Additionally, Chainlink revealed plans for the initiation of confidential blockchain transactions tailored for financial entities – a vital aspect for companies requiring data privacy while engaging in business transactions.
As an analyst, I would rephrase it like this: I work with a collection of privacy-focused tools that include the Blockchain Privacy Manager. This feature enables private enterprises to link their blockchains to Chainlink’s network, while also offering a secure end-to-end encryption solution known as CCIP Private Transactions.
Although Chainlink has been thriving, challengers such as the Pyth network, Chronicle, and Redstone have been steadily chipping away at Chainlink’s market dominance. In October 2024, Pyth surpassed Chainlink in terms of daily transaction volume over a 30-day period.
Nonetheless, it’s Chainlink that leads as the primary oracle service provider in terms of Total Value Secured (TVS). As per DeFi Llama’s data, Chainlink accounted for around 46% of the TVS among all oracle providers in October 2024, whereas Pyth held about 9.5%.
Read More
- Best Race Tier List In Elder Scrolls Oblivion
- Elder Scrolls Oblivion: Best Pilgrim Build
- Becky G Shares Game-Changing Tips for Tyla’s Coachella Debut!
- Meet Tayme Thapthimthong: The Rising Star of The White Lotus!
- Gold Rate Forecast
- Elder Scrolls Oblivion: Best Thief Build
- Yvette Nicole Brown Confirms She’s Returning For the Community Movie
- Silver Rate Forecast
- Elder Scrolls Oblivion: Best Sorcerer Build
- Rachel Zegler Claps Back at Critics While Ignoring Snow White Controversies!
2024-11-14 20:09