crypto.news 2025-04-23 10:19:25

Monad partners with Chainlink for oracle services ahead of mainnet launch

Monad has partnered with Chainlink to integrate its oracle services as its mainnet launch looms. Monad, an EVM-compatible Layer 1 blockhain, has announced a partnership with a leading decentralized oracle provider Chainlink ( LINK ). When the mainnet launches, developers on Monad will have immediate access to Chainlink’s full suite of Web3 services, including Data Feeds, Data Streams, and the Cross-Chain Interoperability Protocol. Thanks to Chainlink’s Data Feeds and Data Streams integrations, Monad developers will be able access accurate, tamper-proof market data—such as asset prices and exchange rates—enabling them to build DeFi apps like lending platforms and DEXs. Chainlink’s CCIP will enable secure, programmable cross-chain token transfers, laying the foundation for building interoperable dAapps. The development comes on the heels of another big announcement from the project, which confirmed that USD Coin ( USDC ) will be available on the Monad chain starting from day one of its mainnet launch. You might also like: Chainlink price forms bulish divergence as exchange outflows rise Backed by $244 million in funding led by Dragonfly and Paradigm , Monad is an EVM-compatible L1 chain that supports over 10,000 transactions per second, fast block times, low fees, and quick finality, made possible by its parallel execution model. On Feb. 19, the project launched its testnet alongside an ecosystem directory of 50+ apps, infrastructure providers, and integrations, giving users and developers a robust environment to explore, build, and test on from day one. Phantom, OKX, Uniswap Wallet, and Backpack users can connect instantly, while others can onboard manually via testnet.monad.xyz . A built-in faucet offers testnet MON tokens to for interactions with Monad dApps. The mainnet launch is slated for the first quarter of 2025, but the exact date is yet to be announced. You might also like: Circle to enable USDC on Monad mainnet on day 1