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    Tron replaces oracle provider with Chainlink

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    Tron will change its oracle solution provider from WinkLink to Chainlink for pricing data related to its decentralized finance (DeFi) ecosystem, which is worth over $6.5 billion. The main aim of this switch is to fuel growth; initially, Tron will bear some operational costs but will later pass these to decentralized application (DApp) user fees. The partnership is expected to foster Tron’s DeFi economy and generate new opportunities for Chainlink, Tron-based stablecoins, and real-world assets. Tron’s memecoin ecosystem continues to gain substantial revenue, reaching a record $151.2 million in Q3 2024 buoyed by a 487% surge in DeFi transactions.

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    Tron, a decentralized autonomous organization (DAO) and Chainlink, a blockchain oracle provider, have announced that Tron will be swapping its oracle solution provider. Before this, Tron was supporting WinkLink, but it’s now confirmed that it will shift to Chainlink Data Feeds for pricing data related to its decentralized finance (DeFi) ecosystem.

    What this means is that DeFi applications, like JustLend and JustStable, – that hold a total value over $6.5 billion – will use data oracles from Chainlink.

    This new partnership with Chainlink is intended to boost growth and adoption for Tron. Initially, Tron will handle some of the operation costs linked to Chainlink oracle networks, including gas fees. But, in the long haul, these costs will be covered by decentralized application (DApp) user fees.

    The key folks at both Chainlink and Tron, like Thodoris Karakostas and Sam Elfarra, have expressed their excitement over the partnership and believe it will help Tron’s DeFi economy grow faster. Justin Sun, the founder of Tron, also chimed in saying this integration could create new possibilities for Chainlink, Tron-based stablecoins, and real-world assets.

    In the meantime, Tron’s memecoin ecosystem keeps bringing in solid revenue. The memecoin launchpad, SumPump, has raised Tron’s quarterly revenue to a new high of $151.2 million in the 3rd quarter of 2024, a 30% quarter-on-quarter increase. Between August 12 and September 30, over 89,000 tokens were launched on SunPump, resulting in a 487% increase in Tron’s DeFi transactions in Q3.

    Although the number of tokens grew, the number of new tokens launched each day in September dropped to less than 1,000.

    Source: Cointelegraph

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