Tron replaces its oral provider with Chainlink.
Tron Decentralized Autonomous Organization (DAO) and blockchain oracle provider Chainlink have announced that it will replace Tron's blockchain oracle solution provider.
In a press release, Tron DAO confirmed that it will be discontinuing support of its previous provider, WinLink. According to the announcement, Tron's decentralized finance (DeFi) ecosystem will move to Chainlink data feeders for its pricing information.
This means that DeFi apps JustLend and JustStable – with a total value of more than $6.5 billion locked in – will use data from Chainlink.
Accelerating Tron's DeFi Economy
The announcement highlighted that Tron's participation in the Chainlink Scale Program will “accelerate ecosystem growth and adoption.”
As part of the merger, Tron will initially cover certain operational costs associated with Chainlink's oracle networks, such as gas fees, with a long-term plan to eventually shift those costs to decentralized application (DApp) user fees.
Todoris Karakostas, head of blockchain partnerships at Chainlink Labs, said in a press release that Chainlink will encourage developers in the Tron ecosystem to build DeFi applications and “enhance the decentralized Internet.”
Tron DAO community spokesperson Sam Elfara echoed the sentiment, saying in a press release that they are joining the Chainlink Scale program to accelerate Tron's DeFi economy.
Tron founder Justin Sun announcing the merger at Chainlink SmartCon. Source: Chainlink
On XPost, Tron founder Justin Sun said the merger will create opportunities for Chainlink, Tron-based stablecoins and real-world assets (RWA).
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Memecoins have boosted Tron's revenue to a new high
Meanwhile, Tron's memecoin ecosystem remains a strong revenue driver. Blockchain memecoin launch pad SumPump has boosted Tron's quarterly revenue to $151.2 million in the third quarter of 2024. According to crypto research firm Messari, this marks a new record high of 30% quarter-on-quarter growth.
Over 89,000 tokens were launched on SunPump between August 12th and September 30th. This pushed Tron's DeFi transactions to grow by 487% in Q3. “SunPump activity began to rally on August 16 and continued to parabolic over the next two weeks,” Messari wrote.
Tokens are launched on SunPump from August 12th to September 30th. Source: Messari
While the number of tokens has increased, new tokens launched on the memecoin launchpad have dropped below 1,000 per day in September.
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