Chorus One is now selected as a Chainlink node operator on Kava. To build a better and greater ecosystem, this collaboration will be bringing the Chainlink price reference data to Kava’s DeFi lending platform for the Cosmos ecosystem. Chorus One will be issuing BNB/USD price reference data that will be supporting Kava’s lending, which is supposed to be launched in the month of June. Followed by the IBC release, other Cosmos-SDK blockchains and applications can purchase Kava connections so that they can have access to Chainlink data for their use as well.
What Is Chorus One?
Chorus One is a well-known staking provider that is currently working on many networks. The networks working under Chorus One are Kava, Chainlink, Cosmos Hub, and Solana. Approximately $20 million assets are secured under ChorusOne. The company was established in the year 2018 by Epicenter blockchain. Since its establishment, Chorus One is established as the vital contributor to the Proof-of-Stake, which primarily focuses on the advancements of the ecosystem via secured infrastructure, educational information, research, and tooling.
Talking about the same, Brian Kerr, CEO and Co-Founder of Kava Labs stated,
Kava Makes the Chainlink Data Available for the Cosmos
None of the oracle solutions were enough for the DeFi apps on Cosmos. This is the only reason Kava has collaborated with Chainlink to bring the oracle solution to the Cosmos ecosystem. The Chainlink nodes will now be able to publish data securely on the Kava blockchain platform, which will make it easier to transfer data to the Cosmos-based blockchains and applications.
The addition of Chorus One moves Kava one-step closer to the launch of its lending platform, which is scheduled in the month of June.
The CEO of Chorus One Brian Fabian Crain, says that they are highly fascinated by the practical and efficient approach of Chainlink. He further quoted,
Kava is a DeFi platform that has been offering stablecoin, loans, and other monetary services for cryptocurrency users. The Kava platform has been using two types of tokens, which are the Kava Tokens and USDX stablecoin. The Kava token is the domestic token of the Kava blockchain.