Polygon zkEVM and Chainlink Integration Transforms DeFi

Share on Facebook Share on Twitter

The blockchain platform, Polygon zkEVM, has recently made a significant integration with Chainlink. This integration brings new features and possibilities to the blockchain and could change the game for DeFi (Decentralized Finance).

The combination of Chainlink’s solution and the ZK-Rollup of Polygon zkEVM will be a game changer for DeFi, according to Sandeep Nailwal, co-founder of Polygon. Chainlink has been by the side of the Polygon ecosystem since February 2021, when the Matic network became Polygon. Chainlink is now used by the largest protocols such as Aave and Gains, securing 85-90% of the transactions.

The Benefits for Developers

The integration allows DeFi developers to easily access external price data to create and launch effective liquidity protocols, advanced decentralized exchanges, and more. Marc Borion, CEO of Polygon Labs, explained that this feature will enable the implementation of several significant DeFi protocols on Polygon zkEVM early next year.

alert-circle
You can also find us on Telegram: Click here to follow our Telegram channel.

Growth of zkEVM’s DeFi Ecosystem

While the developers were working on this integration, the DeFi ecosystem of zkEVM also started to grow. The TVL (Total Value Locked) of Polygon zkEVM has been increasing for several weeks. However, the network activity dropped, which was reflected in a decrease in daily active addresses and transactions.

While zkEVM grew in the DeFi space, Chainlink did not follow the same trend with its price. According to CoinMarketCap, LINK fell by almost 15% in the last seven days. At the time of writing, LINK was trading at a price of $14.50, with a market capitalization of over $8.2 billion. The token’s trading volume also fell in the last 24 hours, suggesting that investors were not actively trading LINK.

Future Prospects

Despite the current situation, there is also good news. The open interest in Chainlink fell slightly along with its price. A decrease in this metric usually indicates a trend reversal, which could suggest that LINK could be back in the green in the future.

Sources:
– Blog post by Polygon
– Tweet by Sandeep Nailwal
– Data analysis by AMBCrypto
– Price information from CoinMarketCap
– Data analysis by Santiment
– Data analysis by Coinglass

Share on Facebook Share on Twitter

The 3 best crypto casinos

100% without limit + 100 Free Spins
Welcome bonus
Cryptocurrencies (11)
  • Bitcoin Logo
  • Bitcoin Cash Logo
  • Dogecoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • Ripple XRP Logo
  • Tether (USDT) Logo
  • tron-logo
  • usd-coin-logo
CoinKings review
Bonus Information CoinKings
Wagering requirements 35x bonus
35x free spins winnings
Minimum deposit €20
Maximum bet €5
Bonus validity 14 days for deposit bonus
7 days for free spins
  • There is no maximum bonus amount.
  • 10 Free Spins per day over ten (10) days on Gates of Olympus or Book of Ra Deluxe.
How did we rate this casino

In addition to an unlimited bonus, Coinkings.io has a lot to offer. We have a high tolerance for VPNs, an impeccable selection of cryptocurrencies and, above all, an experienced team that immediately provided a wide range of games. In combination, all of this is very convincing.

Author & Responsibility: Gregor Ziegler
Last update by Isabella Brown on 10. June 2024
Anjuan Gaming
Anjouan
Licence
Curaçao License
Curaçao
Licence
Up to 1 BTC + 100 Free Spins
Welcome bonus
BETSFTD
Cryptocurrencies (25)
  • Toncoin
  • Bitcoin Logo
  • Bitcoin Cash Logo
  • Chainlink_Logo
  • dai-logo
  • Dogecoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • Polygon (MATIC) Signet
  • Ripple XRP Logo
  • Tether (USDT) Logo
  • tron-logo
  • usd-coin-logo
  • Zcash Signet (black)
Bets.io review
Bonus Information Bets.io
Wagering requirements 40x deposit + bonus
40x free spins winnings
Minimum deposit 0.00034 BTC or equivalent
Maximum bet 0.00003 BTC or equivalent
Bonus validity 30 days to claim
14 days to wager
  • Minimum deposit: 0.048 BCH • 0.0068 ETH • 0.26 LTC • 154 DOGE • 20 USDT • 40 XRP • 180 TRX • 48 ADA • 0.04 BNB • 20 BUSD • 20 USDC.
  • Maximum bet per round: 0.005 BCH • 0.0007 ETH • 0.03 LTC • 15 DOGE • 2 USDT • 4 XRP • 19 TRX • 4.8 ADA • 0.004 BNB • 2 BUSD • 2 USDC.
  • Free spins are credited on “Max Miner” by Gamebeat, 20/25 free spins per a day.
How did we rate this casino

Bets.io is our number 1 among crypto casinos because they have kept everything great about Dama Casinos, such as their excellent game selection and well-known reliability, while eliminating the frustrating KYC processes and traditional payment methods that can hinder the full crypto casino experience.

Author & Responsibility: Steven Harper
Last update by Isabella Brown on 19. June 2024
Curaçao License
Curaçao
Licence
100% up to 1 BTC
Welcome bonus
Cryptocurrencies (9)
  • Bitcoin Logo
  • Bitcoin Cash Logo
  • Dogecoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • Tether (USDT) Logo
  • tron-logo
  • usd-coin-logo
Metaspins review
Bonus Information Metaspins
Wagering requirements 40x bonus
Minimum deposit 0,1 mBTC
Maximum bet $5 per spin
Bonus validity 7 days to wager
  • There is no cap on winnings or withdrawals.
How did we rate this casino

Metaspins is still a very young crypto casino, but it can already convince with a very modern website, a good selection of games and, above all, an excellent bonus.

Isabella Brown
Author & Responsibility: Isabella Brown
Last update by Michael Schmitz on 14. June 2024
Curaçao License
Curaçao
Licence

Latest News

Created by

As a bit of a nerd and travel fan, I get to combine many things at KC. As a member of the team, I can ensure that our readers play in reputable casinos and at the same time contribute to the technical development. I do that from Germany or Spain, my adopted country.

Last update: 11. June 2024

kryptocasinos.com Logo Advertising transparency

We are independent, transparent and funded by revenue we generate when you sign up at a casino through us.

Our goal is to help you make better decisions when choosing a casino by offering different information, providing filters and comparison tables, and publishing objective content. Thus, we give you the opportunity to research for free, compare casinos and make your decision based on that.

We cannot guarantee that a casino that is very good for us will fit your type of player and your circumstances.

Why trust us?

We work according to transparent editorial guidelines and disclose our testing methods as well as funding. This article may contain links to our partners, but this does not influence our objective view in any way.

🍪
We use cookies. By using this site, you accept them.

Compare Casinos Choose up to 3 casinos to compare