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Bounce integrates Chainlink oracles to settle prediction markets

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With the world of decentralized finance [DeFi] becoming an important part of the crypto-ecosystem, many projects from the field are gaining a lot of attention lately. Chainlink’s decentralized oracle network has been one of the most popular projects in the world of DeFi. Adding to this popularity, Bounce Finance, a decentralized auction protocol, has just announced its mainnet integration with Chainlink.

The Bounce Finance project that operates on Ethereum, as well as Binance Smart Chain, noted the integration of Chainlink’s Price Feeds, stating that it would be able to securely determine the outcome of prediction markets while offering fair exchange rates for assets within the auction offering.

The most-popular integration of Chainlink was seen with Binance Smart Chain [BSC] mainnet. With the integration, the oracles were available for developers building smart contracts on BSC. According to Binance, the integration used a native deployment of the Chainlink protocol that allows developers to use and pay Chainlink directly on-chain, making it independent of Ethereum.

Chainlink’s price feeds have swiftly been adopted across smart contract platforms including Moonbeam. On 17 December, PureStake, the company developing the Moonbeam smart contract platform, announced completing the integration of Chainlink into the Moonbeam TestNet environment. The announcement noted,

“This integration brings Chainlink’s market-leading oracle functionality to Moonbeam, enabling developers to build smart contracts using any external data resource—all without leaving the Polkadot ecosystem. The initial integration includes the deployment of Chainlink’s widely used Price Feeds on Moonbeam, giving dApps access to the largest collection of on-chain market data backed by secure, reliable, and already live decentralized oracle networks.”

This growing demand for its financial resources, especially among new projects, led the Chainlink Community Grant Program to offer its blockchain integration grant to BlockSpaces and Linkup. The two projects are receiving grants for a native mainnet integration of Chainlink on the NEAR blockchain to support its developers who are building dApps using Chainlink oracles.

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Namrata is a full-time journalist at AMBCrypto covering the US and Indian market. A graduate in Mass communication, while majoring in Journalism, she writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.

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