We are excited to announce that Chainlink’s widely used decentralized Price Feeds are now live on the xDai mainnet, providing xDai developers with the most secure and reliable oracle networks in the industry for accessing real-time financial market data directly on-chain. Chainlink Price Feeds currently available on the xDai mainnet include BTC/USD, ETH/USD, LINK/USD, AAVE/USD, DOT/USD, PERP/USD, YFI/USD and SUSHI/USD, with the ability to quickly support more Price Feeds in the future to meet ecosystem demand. We recommend all developers needing Price Oracles on xDai use Chainlink and encourage them to read the following documentation to get started testing and building today.
The Chainlink integration as xDai’s preferred oracle solution gives smart contract developers a growing collection of pre-built price oracles that can easily support a wide variety of DeFi protocols on xDai, including protocols for lending, derivatives, synthetics, asset management, algorithmic stablecoins and various other financial services. Chainlink oracles are backed by premium data, secure oracle nodes, and decentralized infrastructure, leading to the strongest security and reliability guarantees around the sourcing and delivery of external data on-chain.
The integration was made possible by Protofire, a leading development workshop and xDai validator, who received a Chainlink Community Grant to bring Chainlink oracles natively onto xDai. Protofire used the grant funding to successfully adapt Chainlink’s core smart contracts for compatibility with xDai, adapt the token bridge to enable native LINK payments, perform extensive testing of the integration code to ensure stability, and develop a monitoring solution to maintain long-term reliability.
We’re beyond thrilled to see what smart contract developers create by combining the high level of scalability provided by the xDai blockchain with the secure connectivity to external market data enabled by Chanlink. We didn’t have to wait long either, as Perpetual Protocol is already using Chainlink Price Feeds on the xDai mainnet to determine the funding rate on long and short perpetual derivatives contracts with up to 10x leverage. Additionally, by operating on the xDai blockchain, Perpetual transaction fees only cost 0.0005 DAI per trade, allowing the fees to be entirely subsidized by Perpetual Protocol.
"Fast, reliable oracles are crucial to a decentralized service like Perpetual Protocol. We have been using Chainlink Price Feeds on Ethereum mainnet for some time now and we are very happy with their ease of use, stability, and decentralization. Since our protocol runs on xDai, this is just fantastic news. Our users will definitely appreciate the increased responsiveness and timeliness of Chainlink Price Feeds on the xDai Network." - Yenweng Feng Co-Founder of Perpetual Protocol
The xDai blockchain is an Ethereum-based sidechain that allows for the creation of high throughput and low latency smart contract applications, with transaction fees costing a fraction of a penny. xDai is the first layer 2 sidechain that uses the decentralized stablecoin DAI as the native coin of the network, with all gas fees paid in xDAI tokens. This ensures developers and users do not need to hold a volatile asset to interact with smart contract applications.
To allow for the creation of data-driven DeFi applications, xDai Chain required an accurate source of market prices on a variety of assets. Not only does Chainlink provide the most extensive collection of on-chain price oracles in the industry, but its data is sourced exclusively from a variety of premium data aggregators to mitigate against data manipulation vulnerabilities, such as those recently induced via flash loans. Combined with secure nodes and decentralized infrastructure, Chainlink provides xDai with highly available, tamperproof, and volume adjusted market data without any single point of failure, as well as the best overall solution for trust-minimized off-chain data computation. Additionally, Chainlink oracles operating on xDai do not require any external dependencies to Ethereum, allowing Price Feeds to operate at the native speed and costs of the xDai Chain.
"The launch of Chainlink Price Feeds on the xDai mainnet marks a significant milestone in xDai’s support for highly scalable, low-cost, and externally connected DeFi applications. We recommend that developers building DeFi protocols and launching DeFi markets on xDai use Chainlink Price Feeds. It gives them direct access to industry-leading data quality, time-tested oracle security, and on-chain transparency to prove to users the proper functioning of their price feed mechanism,” stated Igor Barinov, xDai Founder and Lead Developer.
If you’re a developer and want to quickly get your application connected to Chainlink Price Reference Data, visit the developer documentation and join the technical discussion in Discord. If you want to schedule a call to discuss the integration more in-depth, reach out here.
Chainlink is a general-purpose framework for building and running decentralized oracle networks that give your smart contract access to secure and reliable data inputs and outputs. Use Chainlink to connect to data providers, web APIs, enterprise systems, cloud providers, IoT devices, payment systems, other blockchains, and much more. Website | Twitter | Reddit | YouTube | Telegram | Events | GitHub | Price Feeds | DeFi
The xDai Stable Chain enables fast, inexpensive, and stable blockchain transactions. As an Ethereum sister chain, xDai is a community driven project that values compatibility and interoperability with the Ethereum mainnet. First conceived in 2018 at EthBerlin by founder Igor Barinov, xDai provides a stable, intermediary support layer for Ethereum. Data, applications, and assets can migrate seamlessly between the two chains, providing backend safety and practical scalability.
Projects on xDai can leverage a full suite of development tools including applications like BlockScout, a full-featured, customizable block explorer and Omnibridge, a bridge providing interoperability for any ERC20 token between Ethereum and xDai. This synergy between stability, security, interoperability, and scalability opens the door for many exciting applications and new use cases.