Cardano Gets First Oracle Integrator, ADA Falls Despite Launch
• Cardano’s first oracle integrator, Charli3, was launched on April 6.
• The oracles were integrated by the DeFi project Liqwid.
• The Charli3 platform provides a decentralized node network to supply secure data to projects and users.
Cardano Gets Its First Oracle Integrator
Cardano has had its first oracle integrator launch on April 6. The platform called Charli3 provides a decentralized node network with the framework for projects to supply secure, accurate, and safe data to their platforms and users. This is seen as an important milestone for the Cardano ecosystem as it signifies the continuous push for full decentralization.
Liqwid Integration
The integration of Charli3 was done by Liqwid, a leading DeFi project on Cardano that provides algorithmic liquidity market protocol for lenders and borrowers. According to Dewayne Cameron, co-founder of Liqwid: “Charli3 is Cardano’s first decentralized oracle infrastructure on mainnet, working with the talented developers that built this protocol and seeing their clear vision for the evolution of Cardano DeFi has been insightful and super motivating!”
Decentralized Data Supply
Charli3 enables projects to securely supply reliable data from external sources onto their platforms. This allows them to access real-time asset prices such as cryptocurrency exchange rates which can then be used in various financial applications such as derivatives trading and margin lending protocols.
ADA Price Impact
Despite the integration, ADA prices have not reacted positively due to market conditions still being bearish in general across all cryptocurrencies over recent weeks. However, this could be seen as a sign of progress towards further adoption of the Cardano blockchain in terms of its use cases outside of just payments and transfers.
Conclusion
Altogether, this development marks an exciting step forward for Cardano in terms of increased usage cases within its ecosystem through oracle integrations such as Charli3’s platform providing secure data supplies from external sources onto their platforms
