Emily Walker
A decentralized finance platform linked to potential US presidential candidate Donald Trump is finalizing a collaboration with a prominent oracle service provider.
This partnership is expected to significantly impact the evolution of decentralized finance technology.
Trump Crypto & Integration with DeFi Applications
World Liberty Financial has officially partnered with the established oracle provider Chainlink to integrate data feeds into its decentralized finance initiative.
This Trump-backed platform states that the integration with Chainlink will deliver real-time, reliable, and secure data feeds to the platform.
In a press release, World Liberty Financial expressed its ambition to drive the next phase of decentralized finance mainstream adoption, asserting that Chainlink’s technology would enhance the platform’s security and dependability.
Eric Trump, the Web3 Ambassador for World Liberty Financial, described the Chainlink partnership as a significant advancement. He expressed strong optimism, stating, “We have never been more confident about the future of cryptocurrency and decentralized finance technology.”
The integration process will start by applying the Chainlink Price Feeds on the Ethereum mainnet alongside the World Liberty Financial Protocol, marking progress towards the launch of the World Liberty Financial Aave v3 instance, which is currently undergoing approval.
Access to DeFi Applications
World Liberty Financial noted that the Protocol aims to empower users by providing access to third-party decentralized finance applications, potentially accelerating the adoption of US dollar-linked stablecoins and reinforcing the dollar’s role as a global reserve currency.
This initiative positions Trump’s decentralized finance platform as a trailblazer in the DeFi sector, inspired by Trump’s vision for increased financial access and maintaining the dollar’s esteemed global status.
Chainlink Co-Founder Sergey Nazarov conveyed enthusiasm regarding the partnership with World Liberty Financial, committing to assist with their “data, cross-chain, and oracle network needs.”
Nazarov stated, “The Chainlink standard is already prevalent in DeFi and will aid WLFI in attracting users who prioritize the security and reliability essential to the growth of the DeFi ecosystem.”
Advantages of Chainlink
World Liberty Financial highlighted that Chainlink would enable them to utilize leading on-chain data and cross-chain interoperability capabilities, boasting an ecosystem with over $16 trillion in transaction value.
Utilizing Chainlink Price Feeds is a critical step forward for the platform’s Aave v3 instance launch.
A key factor in selecting Chainlink was its proven track record in security.
Featured image from Brandon Bell/Getty Images, chart from TradingView