Chainlink for NFT-Backed Loans, GameFi, Green Exchange, Margin Protocol

Chainlink continues to expand its reach as the world’s dominant smart contract oracle network. This week the company announced partnerships with an NFT-backed lending platform, GameFi incubator and launchpad, eco-focused exchange, and margin protocol.

In this week's roundup:

• Chainlink NFT Floor Pricing Feeds secure JPEG’d on Ethereum.
• Chainlink Labs collaborates with Seedify.
• MetaVerse Green Exchange (MVGX) gets support from Chainlink’s Cross-Chain Interoperability Protocol (CCIP), Proof of Reserve (PoR), and dynamic Non-Fungible Tokens (NFTs).
• Dolomite joins the Chainlink BUILD Program.

NFT-Backed Loans

Lending platform JPEG’d is leveraging Chainlink’s Floor Pricing Feeds across blue-chip NFT collections such as Cryptopunks and Bored Ape Yacht Club to enable users to take out loans using their NFTs as collateral.

The Floor Pricing Feeds assure the users that loan amounts and liquidations will be determined according to secure and accurate data. JPEG’d is a lending platform that accepts NFTs as collateral for Collateralized Debt Positions.

“Chainlink NFT Floor Pricing Feeds unlock new solutions that merge DeFi and NFTs in a way that wasn’t previously possible. By leveraging NFT floor price data, we’re now able to support borrowing and lending using popular NFTs like Cryptopunks, BAYC, Pudgy Penguins, and Moonbirds as collateral,” a JPEG’d spokesperson said.

NFTs from the following collections can be used on the protocol:

• Cryptopunks
• Bored Ape Yacht Club
• Bored Ape Mutant Club
• Doodles
• Pudgy Penguins
• Azuki
• Clonex
• Moonbirds (soon)

Chainlink NFT Floor Pricing Feeds are a subset of Chainlink Data Feeds.

Blockchain Gaming, NFTs

Seedify, a blockchain gaming-focused incubator and launchpad ecosystem, has established a channel partnership with Chainlink to boost the adoption of GameFi and NFTs.

“We believe that Chainlink’s industry-standard oracle solutions play a vital role in the growth of the GameFi and metaverse sectors. Being able to bring real-world data and off-chain computation securely to blockchain networks unlocks even more possibilities for gaming and NFTs in the future,” according to a Medium post from Seedify.

As a result of the partnership, Seedify and Chainlink can work together with projects to carry out marketing programs to boost the growth of the projects and their ecosystems.

Eco-Focused Exchange

Metaverse Green Exchange (MVGX), a digital green exchange licensed and regulated by the Monetary Authority of Singapore, is getting support from Chainlink in the form of CCIP, PoR, and dynamic NFTs to help connect Web2 and Web3 carbon markets.

“We are thrilled to be embarking on this partnership with Chainlink as we recognize the vital role it will play in enabling us to empower our customers and clients with greater integrity, veracity, and accountability in the green finance and broader ESG ecosystem, in both Web2 and Web3 worlds,” said MVGX Executive Chairman and Co-Founder Bo Bai in a press release.

“MVGX has a lot of potential,” said Niki Ariyasinghe, Global Head of Partnerships at Chainlink Labs. “The company has spent the last few years building a strong foundation for growth, and I believe that this is a long-term collaboration with a lot of potentially productive components. I’m looking forward to our work together.”

DeFi Margin Trading and Lending

Dolomite, a margin protocol and Decentralized Exchange (DEX), has joined the Chainlink BUILD Program.

The Decentralized Finance (DeFi) project previously integrated Chainlink Price Feeds on Arbitum to help secure collateral calculations and liquidations.

Dolomite has planned to commit 3% of the total supply of Dolomite tokens to Chainlink service providers in exchange for enhanced features, support, and other benefits.

“As we’re building a high-performance DeFi margin trading and lending protocol, we’re aiming to leverage a solid foundation of high-quality tech infrastructure. This is why we’re excited to join Chainlink BUILD, which gives us increased access to Chainlink’s industry-standard oracle services, dedicated technical support, and a robust cryptoeconomic model that empowers us to build an advanced margin trading platform on Arbitrum,” said Dolomite Co-Founder Corey Caplan in a Medium post.

Check out BSC News' Weekly Roundup to keep up with the latest updates about the smart contract powerhouse.

Last four editions:

• Oct. 21: Carbon Credits, Galaxis and Anthony Hopkins
• Oct. 14: LINK Staking, Paxo, Betterticket, CACHE Gold
• Oct. 7: Hebys and Two Sigma
• Sep. 30: SWIFT, SCALE and Coinbase Cloud

What Is Chainlink:

Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. They currently secure tens of billions of dollars across DeFi, insurance, gaming, and other major industries and offer global enterprises and leading data providers a universal gateway to all blockchains.

Where to find Chainlink:‍

Website | Twitter | Docs | Community