TRON Collaborates With Chainlink To Secure DeFi Ecosystem

TRON establishes a partnership with Chainlink to strengthen the security of the DeFi ecosystem. (Photo; Doc. CoinCulture)

JAKARTA - TRON, a blockchain network founded by Justin Sun, announced cooperation with Chainlink through the SCALE program, a move that is expected to strengthen security of more than $6.5 billion in total locked value (TVL) on the DeFi TRON ecosystem.

Through this partnership, Chainlink Data Feeds is now the main oracle that provides accurate and reliable price data for the TRON network, providing opportunities for the TRON ecosystem valued at around 60 billion US dollars (Rp930 trillion) in stablecoins and real assets.

TRON founder Justin Sun explained that this collaboration will have a positive impact in the form of additional security for decentralized applications (dApp) in the TRON ecosystem, including major applications such as JustLend and JustStable which have been relying on WINKLink oracles.

With Chainlink adoption, TRON hopes to deliver more advanced oracle services, supporting DAO's mission of expanding the blockchain ecosystem and internet decentralization. This announcement prompted TRX prices to rise by around 1.05%, reflecting investor optimism over the positive impact of this partnership on the future of the TRON ecosystem.

As part of the SCALE program, TRON will cover part of Chainlink's operating costs in the early stages, including gas costs for oracle services. Gradually, these costs will be diverted to a more sustainable model, where dApp users pay Chainlink service fees independently. This collaboration allows TRON to optimize their budget, as well as pave the way for new developers to build next-generation DeFi applications on the TRON network.

Head of Blockchain Partnership at Chainlink Labs, Thodoris Karakostas, said that Chainlink Data Feeds will provide reliable on-chain market data TRON and decentralization, enabling developers to be more innovative in creating tough DeFi dApps.

"With decentralized and reliable market data, Chainlink empowers TRON developers to build future DeFi applications that help realize more decentralized internet," Karakostas was quoted as saying by Coingape.

In line with that, Sam Elfarra, spokesman for the TRON DAO Community, underlined that Chainlink's security and reliability are the main reasons in the choice of Chainlink as the official oracle provider.

"Joining TRON with SCALE Chainlink allows us to take advantage of the best oracle network in the industry, save resources while increasing efforts to widely adopt blockchain in our ecosystem," concluded Elfarra.