News09 September 2021

DeFi Parchain, Acala, to bring Chainlink Oracle Pallet to Polkadot

Acala to bring Chainlink Oracle Pallet to Polkadot

Summary

  • The Polkadot ecosystem is growing at a breathtaking speed
  • Numerous parachains set to launch projects on Polkadot
  • Acala to be the first network to launch on Polkadot

As the Polkadot ecosystem continues to grow rapidly, numerous parachains are planning launches on the platform to bring in a bid to actualize the interoperable blockchain ecosystem dream. One of the first launch projects on this plan will be the Multi-chain DeFi network, Acala, with plans to offer a decentralized application platform on the Polkadot network.

Now, Acala has announced its plans to integrate chainlink price feeds on the platform. Chainlink has played a huge role in the rise of decentralized finance, and Polkadot is set to claim a share of the pie.

In a recent press release, Acala disclosed that it had been working with Chainlink on the integration for a while now. The launch of the plug-and-play solution under Chainlink Oracle Pallet was a significant boost in the Acala-Polkadot project and will be available on Polkadot from April next year.

Acala’s dream is to bring their revolutionary DeFi concept to Polkadot that will allow users to swap, stake, borrow, earn and lend from their investment at the lowest fees.

Kibet Elikana
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