We are very pleased to announce that we have been selected as a recipient of a blockchain integration grant for the native integration of Chainlink into the Terra Protocol.
This applies specifically for the launch of Chainlink Price Feeds on Terra, which allows smart contract developers to build a wide range of use cases and dApps including DeFi, tokenized assets, gaming, IoT, and more by providing leading DeFi protocols with highly secure and reliable source of external data on various cryptocurrencies, equities, commodities, and more.
As part of the grant, we will expand the Chainlink ecosystem by providing several key components to the integration into the Terra Protocol smart contract platform, including:
- Connect Chainlink nodes to the Terra Protocol through the creation of a custom external initiator to read data from the chain and a custom external adapter to write oracle responses back on-chain.
- Validate and adapt Chainlink smart contracts to ensure native compatibility with the Terra Protocol and enable the creation of decentralized data feeds.
- Test and deploy all Chainlink components to Terra mainnet, with continual maintenance and upgrades.
- Create documentation detailing how Terra-based smart contracts can connect to Chainlink oracles and fetch off-chain data.
Chainlink is the leading provider of secure and reliable open-source blockchain oracle solutions, enabling smart contracts to connect to real-world data and systems, such as off-chain data feeds, web APIs, IoT devices, payment systems, and more. Their team is dedicated to the development and integration of Chainlink as the standard decentralized oracle framework used by smart contracts across any blockchain.
Terra Protocol aims to create a programmable algorithmic stablecoin available on every blockchain. The project was created by a partnership of 15 large Asia-based e-commerce companies that focuses on building efficient, scalable, competitive programmable payments.
The Terra Protocol ecosystem features numerous leading DeFi applications including Mirror Protocol, which allows users to mint synthetic assets that track real-world assets such as US equities. With native support for Chainlink oracles, Terra’s ecosystem of DeFi applications such as Mirror will gain access to the most trustworthy source of external data.
Also published on Medium.