Decentralized oracle network Chainlink (LINK) reportedly completed the integration of its Chainlink Price Feeds to Moonbeam – a Polkadot-based smart contract parachain to provide data to developers in the platform. 

Specifically, the team at Chainlink reportedly revealed the freshly finalized Moonbeam integration will make it possible for the ones designing within the platform to tap into price information, which is compiled and aggregated from a variety of exchanges. 

This reportedly enables decentralized finance (DeFi) engineers to include price accuracy in their decentralized applications (DApps).

Moonbeam founder Derek Yoo addtionally disclosed that being able to tap into off-chain asset prices offers a wide range of uses in DeFi, but may amplify vulnerability towards attacks, as well as an increased difficulty in price data manipulation. 

Nonetheless, the Moonbeam founder reportedly shares a belief that Chainlink possesses the ability to come up with a solution for the matter, and ca assist DeFi developers within their platform.

“This Chainlink integration is one of the last integrations needed to provide a full set of building blocks to Moonbeam DeFi developers.”

Niki Ariyasinghe, an executive at Chainlink, reportedly threw the weight behind Moonbeam developers. Ariyasinghe emphasized that this integration will allow Polkadot developers to create new use cases in interconnected DeFi platforms.

In June this year, LINK’s price has reportedly broken free from a downward pattern, rallying to $9 upon the announcement of a new roadmap from its team. 

Moreover, Chainlink has also disclosed to the public regarding details of LINK staking to be covered in the project’s Chainlink Economics 2.0. This will let participants back the Chainlink network with LINK tokens, allowing it to have increased “crypto-economic security.”