Web3 Inevitability, Enterprise Blockchain, DeFi, Metals

It was another big week for Chainlink. Crypto’s dominant smart contract oracle network made major announcements involving a Big Four accounting firm, two yield aggregators and a metals dealer.

In this week’s roundup:

• Chainlink issues first Product Update.
• PwC Germany and Chainlink forge strategic collaboration.
• Steadefi joins Chainlink BUILD.
• SteakHut integrates Automation.
• Ainslie Bullion integrates Price Feeds.

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Chainlink Issues Product Update

Chainlink issues its first Product Update, a wide-ranging overview of progress from the company since SmartCon 2022.

“Our goal is to bring more transparency and insight into the development of Chainlink as a platform. We do so by providing a quick summary of each product, sharing recent deployments since last September, and showcasing areas of current research and development that are actively being explored for future product iterations,” according to the blog post from Chief Product Officer Kemal El Moujahid.

Areas covered in the update include:

• Data
• Data Feeds and Data Products
• Functions
• Proof of Reserve
• DECO
• Compute
• Automation
• VRF
• Fair Sequencing Services
• Cross-Chain
• Cross-Chain Interoperability Protocol
• Chainlink Developer Community Building

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Collaboration With PwC

Chainlink has entered into a strategic joint business relationship with PwC Germany to help accelerate enterprise blockchain adoption.

PwC is one of the “Big Four” accounting firms, a label applied to the world’s largest financial professional services networks.

"We're pleased to enter into a strategic partnership with Chainlink Labs as integration & development partner to help accelerate the enterprise adoption of blockchain technology," said Dimitri Gross, Technology Interest Group Lead for Digital Assets and Crypto at PwC Germany, in a press release. "PwC Germany and Chainlink Labs aim to help accelerate enterprise adoption of blockchain technology in key enterprise sectors such as capital markets, ushering in a new era of transactional security, transparency, and efficiency."

The goal of the collaboration is for Chainlink and PwC Germany to support business enterprises develop blockchain solutions that utilize Chainlink middleware.

"We're excited to support PwC Germany through this strategic collaboration, which will help enterprises securely connect their existing systems to all major blockchain networks," said William Herkelrath, managing director of business development for Chainlink Labs. "By interacting with the blockchain economy through Chainlink, enterprises can begin realizing the transformative power of smart contracts and blockchain oracles."

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Steadefi Joins BUILD

Steadefi has joined the Chainlink BUILD Program to accelerate adoption of the Decentralized Finance (DeFi) platform’s automated “smart-hedging” strategies.

“We are excited to join Chainlink BUILD, which we believe will greatly help drive the adoption of Steadefi’s next-gen DeFi automated strategy vaults. Chainlink’s Web3 services are essential for any protocol that value security and reliability, and we plan to leverage the full suite of services that Chainlink can offer such as Chainlink Data Feeds and Chainlink Automation to support our strategy vaults. Ultimately, joining BUILD will help us provide more people with access to Steadefi’s innovative, efficient, and safe strategies,” Steadefi Project Lead Jeff Lam said in a blog post.

The yield aggregator provides users with a variety of strategy vaults from protocols including GMX, Trader Joe and Pangolin, featuring automated position management.

As part of BUILD, Steadefi will receive access to new Chainlink product alpha and beta releases, dedicated technical support from the Chainlink ecosystem, and more.

In return, Steadefi has committed 3% of its total token supply to Chainlink service providers, including stakers.

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SteakHut Integrates Automation

Liquidity and yield aggregator SteakHut has integrated Chainlink Automation to manage liquidity in the protocol’s yield aggregation vaults and reduce centralization risks.

“Without Chainlink Automation, we would either need to maintain in-house infrastructure or manually trigger liquidity management functions in SteakHut vaults. The highly reliable Chainlink Automation service helps make our lives easier so we can focus solely on building more advanced liquidity management strategies,” SteakHut CoFounder and Lead Developer Wagyu said in a Medium post.

SteakHut is a decentralized market-making platform on Arbitrum and Avalanche where users can deposit their tokens for liquidity on Trader Joe.

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Ainslie Bullion Uses Price Feeds

Australian precious metals dealer Ainslie Bullion has integrated Chainlink Price Feeds to help price metals such as gold, silver and platinum on its platform.

“Chainlink Price Feeds underpin the DeFi economy with highly secure, reliable, and decentralized market data. We’re excited to bring more transparency and reliability to our clients by using Chainlink to help price precious metals for both traditional bullion products and our AUS and AGS tokens,” Ainslie Bullion Director Paul Engeman said in a statement.

Price Feeds will also be used to price Ainsle Bullion’s gold and silver digital tokens $AUS and $AGS.

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Last four weekly Chainlink Roundups:

• March 19: Lekker Finance, Gunther’s Rich Dog, BiggerMINDS, PLEXUS
• March 12: LendeXe, Planet IX, Sneaky Vampire Syndicate
• March 5: Base, Functions, Konnect, 0xCord
• Feb. 26: StarkNet, TrueUSD, Radiant, ETHDenver

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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. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries and offers global enterprises and leading data providers a universal gateway to all blockchains.

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Where to find Chainlink:‍

Website | Twitter | Docs | Community