Data Streams and VRF Launched by Chainlink on Base

Chainlink has officially launched two of its flagship products, Chainlink Data Streams and Chainlink VRF, on Base, a growing layer-2 blockchain incubated by Coinbase and secured by Ethereum.

Launch of Chainlink Data Streams and VRF

Chainlink Data Streams offers an advanced data solution tailored for the DeFi market. According to a press release, it integrates low-latency market data with automated execution to facilitate a new era of high-throughput, user-friendly DeFi products. Meanwhile, Chainlink VRF has processed over 21 million request transactions across various blockchains. The latest VRF v2.5 update introduces several enhancements, including more efficient billing, improved gas consumption prediction, and an enhanced user experience for future upgrades.

Chainlink’s Role in Asset Management

Recently, several integrations have been made with Chainlink. Earlier this week, Superstate, an asset management firm, integrated Chainlink's infrastructure into its Superstate Short Duration US Government Securities Fund (USTB). This integration aims to enhance the transparency and utility of USTB by providing real-time net asset value (NAV) data through Chainlink’s decentralized oracle technology.

Integrations of Chainlink Proof of Reserve

Additionally, 21Shares US LLC, an affiliate of 21Shares AG, integrated Chainlink’s Proof of Reserve on the Ethereum mainnet to improve the transparency of its Core Ethereum ETF (CETH). This move aims to offer clear visibility into the Ethereum reserves backing the ETF, bolstering investor confidence. Furthermore, Chainlink’s Proof of Reserve has been adopted by several major financial institutions, including Bancolombia Group’s Wenia and international banks like BNY Mellon and Citi.

New developments from Chainlink, such as Data Streams and VRF, along with their integrations with various financial products, have the potential to significantly enhance user experience and transparency in the DeFi world.