Metis Integrates Chainlink Price Feeds for Precise Price Data

By August 4, 2022DeFi
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Metis Integrates Chainlink Price Feeds for Precise Price Data

Metis Andromeda recently announced integrating Chainlink Price Feeds in its ecosystem. The industry-leading Oracle solution will help smart contract developers to access high-quality price data on the platform.

The integration will also allow developers to secure the apps with decentralized price data available on Metis directly. This way, they can build low-cost, feature-rich, and highly scalable apps.

Furthermore, integrating Chainlink Price Feeds bodes well with Metis’s goal to expand its DeFi ecosystem. The platform offers a decentralized infrastructure to developers for building complex yet cost-saving blockchain-centric apps.

With the integration, Metis can now initiate its next growth phase. The platform will now enable advanced functionalities, driving innovation across the decentralized finance domain. Metis has also released developer documentation to help new users understand how the integration will work.

Chainlink Price Feeds is one of the most renowned on-chain price reference contracts backed by several oracle networks. Every oracle network on the price feed contains multiple Sybil-resistant node operators. These nodes extract prices from high-quality data aggregators to release precise market prices.

Since multiple infrastructures and market tools back these prices, they offer no single points of failure. Chainlink Price Feeds have been tried and tested in multiple instances, where the oracle showcased its capability to operate without fail. It has secured tens of billions of dollars in on-chain value across the DeFi space.

As an L2 network developed on Ethereum, Metis is highly scalable and efficient. It allows developers to use MVM (Metis Virtual Machine) to leverage quick transaction speed, rich functionality, low transaction fees, and native storage capability.

Such features have already helped developers build multiple efficient dApps on the network. Names like Pickle Finance, Synapse Network, and Beefy Finance are also launching on the network. With Chainlink Price Feeds’ addition to the equation, Metis will gain immense growth.

Moreover, the network will boost its value proposition to help developers create even better dApps with better reliability and security.

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