The WLFI protocol will first integrate with Chainlink price feeds on the Ethereum mainnet to enable the launch of its World Liberty Financial Aave V3 instance soon.
Donald Trump-backed World Liberty Financial ($WLFI) protocol has announced that it will work with leading oracle provider Chainlink LINK $13.11 24h volatility: 0.5% Market cap: $8.60 B Vol. 24h: $185.36 M network to streamline its DeFi services ahead. According to the announcement, the Chainlink network will provide pricing data on the Ethereum ecosystem and enhance a secure interoperability service for the WLFI protocol.
As the WLF protocol prepares to onboard more users to the web3 space in a secure manner, with the help of the WLFI token, the Chainlink integration will play a crucial role.
To kickstart the strategic partnership, the WLFI protocol will integrate with the Chainlink Price Feeds on the Ethereum mainnet to bolster the intended launch of the World Liberty Financial AAVE V3 instance.
Moreover, the WLFI protocol will require reliable and secure financial market data for Circel’s USDC, Tether’s USDT, ETH, and Wrapped Bitcoin (WBTC), among others.
“World Liberty Financial’s partnership with Chainlink marks a huge step forward. Never before have we been more bullish on crypto or the overall future of DeFi technology,” Eric Trump, Web3 Ambassador at World Liberty Financial, noted.
Top Reasons Why World Liberty Financial Chooses Chainlink Services
Over the past few years, the Chainlink core developers have unveiled revolutionary innovations, including the Cross-Chain Interoperability Protocol (CCIP), to help in the seamless adoption of multi-chain smart contracts.
“We’re excited to partner with WLFI on their data, cross-chain, and all other Oracle network needs. The Chainlink standard is already widely used across DeFi and will help WLFI attract users that value the security and reliability that has already helped grow DeFi as an industry,” Sergey Nazarov, Co-Founder of Chainlink network, noted.
The Chainlink network has over the years facilitated a seamless transfer of over $16 trillion in cross-networks. Most importantly, the Chainlink network is verified and trusted by dozens of DeFi protocols in the Web3 space, including Coinbase Global Inc (NASDAQ: COIN).
The WLFI protocol will heavily rely on the Chainlink oracles to enhance the adoption of its native token, which is currently in the pre-sale phase. Furthermore, the Chainlink network facilitates seamless tokenization of real-world assets (RWA), a sector that is expected to grow exponentially in the coming years.
Market Impact
The strategic partnership between the WLFI protocol and the Chainlink network will have a profound impact on the LINK price action in the ongoing crypto bull market.
The mid-cap altcoin, with a fully diluted valuation of about $13.2 billion and a daily average traded volume of over $1 billion, rebounded from a multi-week correction.
Moreover, Chainlink’s weekly Relative Strength Index (RSI) recently surged above the 50 percent level, suggesting the bulls have been gaining ground.
However, LINK price must consistently close above the 200 weekly Moving Average (MA) to validate a new bullish momentum toward its all-time high.
next