Community-backed digital asset incubator DuckDAO has announced a partnership with blockchain-based platform Chainlink (LINK) in a bid to the digital assets ecosystem. According to the announcement, DuckDAO wants to combine Chainlink’s platform to provide reliable oracle solutions.
Offering a secure oracle incubation solution
While Chainlink provides the platform for the project, DUCKDAO will offer the fundraising and strategic advisory in the Chainlink ecosystem looking for support.
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Daniel Kochis, Head of Chainlink Business Development, stated that the company is excited about the project. He added that the collaboration will bring Chainlink’s secure and reliable oracle solution to DuckDAO’s supported incubator program. It will allow both companies to excel in innovations and bringing new entrants into the market. According to him, the project will allow participants to maintain best industry practices while ensuring security to protect user funds.
The Chainlink Oracle framework can be potentially used to solve a lot of issues based on incubation projects daily.
Apart from benefiting both ecosystems, the long-term project will also create awareness to foster best practices for early-stage crypto projects, which will create, integrate, and access oracles.
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Improving best practices within the ecosystem
Chainlink hopes to offer its expertise and assistance in DuckDAO’s strategic and incubation projects while implementing the Chainlink Price Feed oracles. The project will also ensure the best use of the Chainlink solutions within the DeFi applications. This will help to secure use funds, according to the announcement.
Long-term collaboration is expected to benefit both companies as they will benefit from each other’s resources.
DuckDAO will be implementing the Chainlink’s Price Feed Oracles and utilize the solutions to make sure user funds are secure. Chainlink also hopes the partnership will encourage more users to buy LINK token.
Chainlink’s oracle also ensures the improvement of DeFi apps to improve the security and the standards of data quality without the need to develop its oracle solutions.
Benefits to early-stage projects
Early-stage projects utilizing the DeFi protocol will benefit immensely from the collaboration. This will secure a reliable oracle network by avoiding any timesinks or pitfalls.
Also, the project will benefit the upcoming smart contracts within the Chainlink ecosystem looking for community expansion services and strategic fundraising.
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