Another strategic partnership improves the blockchain and cryptocurrency space. Crypto.com’s Cronos has announced a collaboration with popular oracle platform Chainlink.
The partnership will provide Crypto.com’s EVM Chain Cronos with access to Chainlink’s reliable, and secure price feeds. As the recommended oracle platform, Chainlink will provide developers on Cronos with top-notch price feeds for their dapps which require external data. Also, the collaboration will open up Cronos to a myriad of cryptocurrencies, and other traditional asset price feeds.
Speaking on the integration, CEO of Crypto.com, Kris Marszalek, further iterated that for now the firm’s focus is on facilitating support for all projects built on its EVM Chain Cronos. He also added that “Chainlink has always been a trusted partner for provisioning secure and reliable decentralised oracle networks and the integration will benefit DApps that need oracles, especially price feeds, to function.”
More on the Partnership
Crypto.com and Chainlink have interacted in the past. Particularly this partnership is the second interaction between the recommended oracle platform, and Crypto.com. The first partnership was a strategic integration of Chainlink price feeds by Crypto.com DeFi wallet. In addition, Chainlink price feeds are also currently in use on the Ethereum mainnet for the CRO/ETH, and CRO/USD trading pairs; subsequently increasing the utility of Crypto.com’s native token, CRO.
Chainlink price feeds are also tamper-proof and accurate. In line with the partnership, the oracle platform will provide Cronos with accurate prices for collateral assets, balance future and option contracts, review limit order conditions, calculate staking rewards, and more.
About Cronos and Chainlink
Built on Cosmos SDK development platform Ethermint, Cronos is focused on facilitating scalability in the decentralized finance (DeFi) space. The EVM Chain is built to operate parallel to the Crypto.org Chain and is currently live on the testnet. This means that the onboarding of projects is currently going on. Interestingly, projects built on both Ethereum and other EVM-compatible blockchains can easily move to Cronos. These projects will also have access to Crypto.com’s over 10 million user base as well as the $100 million EVM fund.