Chainlink Data Feeds is set to become the official data oracle solution for the TRON blockchain ecosystem, providing essential data feeds for TRONβs DeFi applications JustLend and JustStable.
TRON Announces Switch to Chainlink Data Feeds
In an announcement on October 31, TRON revealed that its community-governed DAO, TRON DAO, will discontinue all support and reliance on WINkLink as an oracle solution for the TRON blockchain. Instead, TRON will be switching to Chainlink Data Feeds to provide on-chain pricing data.
The Role of Oracles in Blockchain
In a blockchain, an oracle provides external data to on-chain smart contracts. Acting as a connector to external systems, oracles enable decentralized applications to access off-chain data and operate based on real-world events, like weather data, random numbers, price feeds, event outcomes, and much more.
Chainlink’s Impact on TRON’s DeFi Applications
As TRONβs new oracle solution, Chainlinkβs industry-standard data oracles will help secure JustLend and JustStable. These are currently the two largest DeFi applications on TRON, representing over $6.5 billion in total value liquidity.
Chainlink’s Market Dominance
Based on current data, Chainlink holds the largest market share in the oracle industry with a total value secured (TVS) of $26.17 billion. It ranks above competitors like WINkLink, Chronicle, and Pyth Network, which have a combined TVS of $18.4 billion.
TRON’s Participation in the Chainlink Scale Program
This partnership marks TRONβs participation in the Chainlink Scale program, which aims to accelerate ecosystem growth and adoption. As part of the integration, TRON will temporarily cover certain operation costs associated with Chainlink Oracle networks, such as transaction gas fees, until those costs can be fully covered by DApp user fees.
βChainlinkβs unmatched security and reliability made it the clear choice as TRONβs official oracle provider. This integration enables us to focus on scaling our ecosystem and further driving mass adoption in the blockchain industry,β said Sam Elfarra, Community Spokesperson at TRON DAO.
Chainlink’s Vision for TRON’s DeFi Economy
Head of Blockchain Partnerships at Chainlink Labs, Thodoris Karakostas, stated that Chainlink aims to secure the foundation of the TRON DeFi economy by providing decentralized market data on-chain. βChainlink will further empower TRON ecosystem developers to build next-gen DeFi applications and advance the decentralized internet,β said Karakostas.
Chainlink’s Track Record
As an oracle solution provider, Chainlink has accumulated over $16 trillion in transaction value and delivered more than 15 billion verified messages on-chain across the blockchain ecosystem. Furthermore, Chainlink Data Feeds secures tens of billions in TVL for hundreds of DeFi protocols.
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