ChainLink(LINK) Price Feed supports on Lido

Details

On December 20th, 2021, Lido announced that it has Chainlink Price Feeds* to enable DeFi protocols across leading blockchains to quickly and securely support Lido staked assets.

With the stETH/USD Price Feed live on Ethereum mainnet, DeFi projects can now reference this Chainlink oracle contract at any time to get the current price of stETH when executing key on-chain functions. The result of our ongoing work with Chainlink is an expansion in the utility of stETH, as users can earn the normal staking rewards from Lido while also deploying stETH as collateral in DeFi. It also makes it very easy for new DeFi protocols to add support for stETH, given they have immediate access to a secure and reliable oracle solution.

Lido plans to expand support of Chainlink Price Feeds in the future to aid in multiple platform initiatives, including decentralized price oracles for bLUNA, stSOL, and the assets of new blockchains that Lido plans to support such as Polkadot, Avalanche, and Matic. In addition to Chainlink Price Feeds, Lido is exploring how to automate certain functions of smart contracts using Chainlink Keepers

*Chainlink Price Feeds is an oracle that reflects volume-adjusted exchange rates that have been aggregated from all trading environments (Dencentralized & Centralized Exchanges) and provides price information to projects.

Type

business

Category

oracle

Title

Lido Integrates Chainlink Price Feed to Expand stETH Adoption Across DeFi

Applicable Date(s)

2021-12-20