Top-tier data oracle provider Chainlink has reportedly disclosed details of its fresh release across Arbitrum One — the beta main net deployment of layer-two Ethereum scaling solution, Arbitrum.

Specifically, the rollout, which took place on August 12th, will reportedly make it possible for developers, currently developing apps on Arbitrum One, to tap into financial market data on-chain in a direct manner, offering functionality with an improvement for decentralized exchanges, algorithmic stable coins, and different decentralized finance (DeFi) offering, throughout the Arbitrum One network.

A variety of high-profile DeFi protocols have already shared their plans of utilizing Chainlink’s data oracles for their Arbitrum deployments, nominally Aave, MCDEX, and Tracer DAO.

“Providing smart contract developers on Arbitrum One with native access to Chainlink’s oracle networks was crucial to ensure all of the smart contract use cases that exist on the Ethereum blockchain can be seamlessly ported over to Arbitrum with next to zero changes.” Ed Felten, the co-founder of Off-chain Labs, the team that builds Arbitrum, reportedly remarked. 

Although Chainlink’s USD-denominated price feeds is reportedly the sole price and data pairing available for the time being, the team is having intentions of quickly introducing new ones in the near future, highlighting the need for “hybrid on-chain/off-chain smart contracts” in the sporting, gaming and nonfungible token sphere is on the rise. 

Chainlink further seeks to roll out its verifiable random function based on Arbitrum One, offering support features for provably fair random number creation for games and other applications.

Chainlink’s Proof of Reserve will reportedly also be made available across Arbitrum One, opening up auditing capabilities for collateralized assets.