Chainlink Price Feeds Go Live on Polygon zkEVM for Advanced DeFi Applications

According to CryptoPotato, Chainlink has announced that its price feeds are now live on the zero-knowledge (ZK) scaling solution, Polygon zkEVM. This development aims to allow developers to build advanced DeFi applications. Chainlink Data Feeds's functionality enables DeFi developers to access external price data to develop and launch effective liquidity protocols and advanced decentralized exchanges, among other things. Polygon zkEVM has welcomed Chainlink Price Feeds, which claim to have multiple layers of decentralization at the price data, oracle node, and oracle network levels. This makes the data feeds resistant to API downtime, flash crash outliers, and data manipulation attacks such as flash loans, making them ideal for security-first DeFi protocols built on Polygon zkEVM. Marc Borion, CEO of Polygon Labs, commented on the development, stating that Chainlink oracles unlock a host of DeFi applications and bring opportunities for new dApps that leverage the unique value propositions of a ZK rollup, including fast finality and robust security. Chainlink Data Feeds rely on networks of independent, reputable, and geographically dispersed node operators, ensuring a high level of reliability. The data is gathered from various premium, authenticated APIs and consolidated into a validated response to eliminate the risk of a single point of failure. The on-chain data is easily verifiable and immutable, enabling users to audit any Data Feed in real-time through multiple third-party interfaces. Johann Eid, Chief Business Officer at Chainlink Labs, emphasized the need for security for the long-term vision of any DeFi protocol and expressed excitement about supporting Polygon zkEVM with secure and reliable price data that empowers developers to build lightning-fast DeFi applications that fully leverage Polygon zkEVM's speed and scalability.