Karura, the decentralized financial umbrella (DeFi) built by Acala for Kusama, will integrate the channel’s pricing channels. With the recent launch of the Oracle Chainlink Suite, this integration allows Karura Smart Contracts developers to benefit from accurate market data directly in the chain.
Chain bridges for ecosystem safety
As the demand for smart contracts grows, Chainlink’s new Oracle Blockchain Suite aims to provide reliable supply chain information and accurate financial market data to all projects in the Polkadot ecosystem, including paraches, substrate chains and Kusama paraches such as Karura.
As a sister network to Akala, Karura shares the same goal in the Kusama ecosystem. Building on its mission, Akala Foundation announced plans to integrate Chainlink’s pricing channels with Karuru, Kusama’s universal DeFi channel.
Karura helps parachutists and non-native dApp teams seamlessly integrate a palette of standardized substrates into an executive module, using any supported smart contract language to virtually access any external real-world resource.
Smart contract developers using Kusama and Polkadot networks can use Chainlink pallets as a solution to provide pricing data. All Chainlink price feeds are secure, tamper-proof and offer superior data quality by using multiple independent oracles to qualify and extract the same data point. Developers save time and resources and avoid the risks of using their own oracles.
Good for substrate and paraspinal developers
Prior to the launch of Parachute Network on Polkadot, Chainlink, Oracle’s de facto standard for networking with billion-dollar smart contracts, will launch Parachute Network on Kusama.
Kusama and Polkadot are independent networks in their own right. Although similarly constructed, Kusama is a faster, more versatile network designed for radical innovation. Karura, for her part, plans to be DeFi’s main target in Kusama.
The project currently offers a number of financial applications, including a multi-base stabilizer (kUSD) and an automated DEX market maker – all with a microgase fee paid by each token.
With the added ability to integrate oracle Chainlink palettes and price feeds, developers and dApps can push the boundaries of what is possible on the Kusama network and launch bold new financial innovations.
This integration offers developers a number of benefits, including Oracle’s proven Chainlink protection and world-class data quality, as well as Kusama’s plug-and-play security, high processing speeds, ability to run on distributed networks, and minimal gas costs.
Overall, with the integration of Chainlink Price Feeds, developers using the Kusama and Polkadot networks not only have access to an easy to integrate oracle pricing solution, but can also reduce overhead and improve overall efficiency.
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