Chainlink’s Smart Contract Products Go Live on Fantom

Chainlink’s popular Keepers and Verifiable Random Function (VRF) protocols were integrated into the Fantom mainnet on Wednesday in a move that would allow developers to build more sophisticated decentralized finance (DeFi) applications.

Keepers is a decentralized transaction automation service and allows developers to automate any smart contract function using custom triggers. Developers can set predefined conditions that Keepers continuously checks, and when those conditions are met, it will trigger the smart contract’s function.

VRF, on the other hand, utilizes on-chain “randomness” that could be used to generate fair in-game outcomes in blockchain games, or randomly select governance participants for specific tasks.

“Having Chainlink VRF on Fantom allows our ecosystem developers to incorporate tamper-proof unpredictable outcomes into their dApps,” explained Michael Kong, CEO at Fantom Foundation, in a Telegram message. “That (can) be for GameFi and NFTs or other real-world use cases.”

VRF has already handled over 7 million requests from decentralized applications on other networks, developers at Chainlink Labs told CoinDesk.

Chainlink handled over $1.85 billion in some 5,630 transactions over the past 24 hours, as per CoinDesk data. The transaction count has declined since a May 2022 peak of 10,440 over a 24-hour period amid a slide in the broader crypto market.

DeFi applications on Fantom hold just under $1 billion in locked value, as per DeFiLlama. This is a steep fall from a peak of $12 billion in January 2022. Stablecoin swap application Curve locks over $178 million, the most among Fantom-based DeFi applications, followed by exchange SpookySwap at $122 million.