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 cryptocasinos

Up to 1 BTC + 100 Free Spins
First Deposit Bonus
9.9
/ 10
Very good
Play now

T&Cs Apply, 18+

Bets.io review
Cryptocurrencies (12)
  • Bitcoin Logo
  • usd-coin-logo
Bets.io review

Bonus information

Bonus code: BETSFTD
Wagering requirements: 40x the bonus amount
40x the winnings from free spins
Minimum deposit: 20 USDT or equivalent
Bonus validity: 14 days
  • Maximum bet per round while wagering: 2 USDT – 0.000066 BTC , 0.01 BCH, 0.0011 ETH, 0.02 LTC, 40 DOGE, 2.8 XRP, 25 TRX, 6.6 ADA, 0.008 BNB, 2 BUSD, 2 DAI, 2 EUR – 2 USD.
  • Bonus must be used within 30 days of registration.
Why we like this casino

Bets.io is an impressive crypto casino that boasts a variety of games and renowned software providers. The website is easy to use and offers a wide selection of games, which makes the gaming experience particularly enjoyable. Furthermore, the customer service is available 24/7. They are highly competent, ensuring a reliable and trustworthy service.

Last update by Isabella Brown (iGaming expert for > 10 years) on 19. February 2024
Curaçao
Licence
100% up to 1 BTC
Welcome Bonus
9.9
/ 10
Very good
Play now

T&Cs Apply, 18+

Metaspins review
Cryptocurrencies (9)
  • Bitcoin Logo
  • usd-coin-logo
Metaspins review

Bonus information

Wagering requirements: 25x deposit & bonus
Minimum deposit: 0,1 mBTC
Bonus validity period: 7 days
  • Bonus & deposit must be wagered 25x
  • Max amounts: 1 BTC/10 ETH/10,000 USDT/10,000 USDC/100 BCH/200,000 TRX/35,000 ADA/150 LTC/125,000 DOGE
  • 7 days to wager
  • Minimum deposit: 0.1 mBTC
  • Slots 100%, game shows 50%, other 0%
Why we like 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
Last update: 19. February 2024
100% up to 1 BTC + 100 Free Spins
Welcome bonus
9.9
/ 10
Very good
Play now

T&Cs Apply, 18+

Empire.io review
Cryptocurrencies (9)
  • Bitcoin Logo
Empire.io review

Bonus information

Bonus Code KC100
Wagering requirements Bonus must be wagered 40x
Winnings from free spins must be wagered 40x
Minimum deposit 30 USDT or equivalent
Maximum bet €5 per round
Bonus currency Only with BTC and USDT deposit
  • The free spins are given on Sweet Bonanza.
  • VERY IMPORTANT: The bonus is only available when depositing with these methods: BTC & USDT.
  • To take advantage of the offer, change your wallet to mBTC (μBTC) or USDT and activate the bonus by clicking on “Redeem Bonus” and entering the bonus code.
  • Only the first deposit counts for the bonus.
Why we like this casino

We absolutely recommend Empire.io since it has one of the best crypto teams we know behind it. On top of that, it offers an extensive selection of slots and live games. The bonus is also exceptional with good conditions.

Last update by Isabella Brown (Nerd of Numbers) on 23. February 2024
Curaçao
Licence

Latest News

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