Mycelium Enters Chainlink BUILD Program to Accelerate the Adoption of Our DeFi Ecosystem
We’re excited to announce that Mycelium is officially joining the Chainlink BUILD Program. As a part of BUILD, we aim to accelerate ecosystem growth and the long-term adoption of Mycelium’s DeFi products by gaining enhanced access to Chainlink’s industry-leading oracle services and high-quality technical support, as well as incentivizing greater cryptoeconomic security. In exchange, we will commit to paying network fees and offer other benefits to the Chainlink community and service providers, including stakers.
Having operated a Chainlink node since 2019 and with a proven history of delivering data for over 1,000 data feeds to 10+ blockchains, Mycelium has long been an active participant and believer in Chainlink. Our participation in BUILD furthers the integration with Chainlink, with the added benefits of priority support from the Chainlink ecosystem, increased access to dApps needing Chainlink Price Feeds, and stronger incentive alignment between the Chainlink and Mycelium communities.
We’re confident that through enhanced support, enhanced access to secure off-chain services, and the backing of Chainlink’s vibrant community, we can accelerate awareness of Mycelium’s perpetual product offerings on decentralized environments. Through this, we hope to realize the widespread adoption of financial market infrastructure on public blockchains that is open, transparent, and accessible to all.
An Ecosystem of DeFi Services
Since 2019, Mycelium has been building smart contracts for the decentralized economy. Akin to Chainlink’s vision to connect individuals to new markets and information in a trust-minimized environment, Mycelium is committed to offering efficient and accessible financial infrastructure that unlocks new financial opportunities.
Chainlink decentralized oracle networks (DONs) play a powerful role for each Mycelium DeFi offering by providing secure, reliable, and decentralized market data needed to help power secure functionality. Whether it’s liquidations on Mycelium Perpetual Swaps or price-tracking for leveraged tokens built through Mycelium Perpetual Pools, Chainlink provides time-tested price data feeds necessary for us to operate to the standard that our users expect. Chainlink’s DONs will play a vital role in Mycelium’s long term vision to create financial infrastructure that changes existing economic relationships. Mycelium wants to improve access and efficiency to any financial market, and Chainlink is an integral partner in that infrastructure pipeline.
Why We Joined Chainlink BUILD
Mycelium joined BUILD to maximize the benefits of security and reliability that Chainlink’s oracle infrastructure provides. As part of BUILD, we will receive key benefits, including increased access to and integration of Chainlink Price Feeds, on-chain data security for select Chainlink Data Feeds provided through Chainlink Staking, access to new Chainlink product alpha and beta releases, and dedicated technical support by the Chainlink Labs team, among other benefits.
In exchange for these services, Mycelium will make available economic incentives by allotting multiple percentage points of its token supply to Chainlink service providers, including stakers that secure oracle services relied upon by Mycelium Perpetual Swaps and Mycelium Perpetual Pools as well as future products. In turn, Chainlink service providers can participate in Mycelium DeFi and are further incentivized to contribute to the security and reliability of our DeFi services. These mutually aligned economic incentives enable both communities to support one another.
“We’re excited to have Mycelium join the Chainlink BUILD program, which aims to create a more robust incentive alignment between Mycelium and the Chainlink ecosystem. The enhanced support by the Chainlink ecosystem helps the team create secure DeFi products and aims to kickstart widespread adoption of Mycelium’s current and future DeFi offerings.“ — Johann Eid, VP of Go-To-Market, Chainlink Labs.
“We’ve been a part of the Chainlink ecosystem for a long time, first as a node operator and then as a data consumer. We’ve seen firsthand the ecosystem impact that Chainlink has brought to DeFi. This is why we’re excited to join Chainlink BUILD, which gives us increased access to Chainlink’s industry-standard oracle services, dedicated technical support, and a robust cryptoeconomic model that empowers us to build world-class DeFi offerings. We’re very pleased to continue our collaboration together and we welcome the Chainlink community to join the growing Mycelium network.” — Patrick McNab, Mycelium CEO and Co-Founder.
About Chainlink
Chainlink is the industry-standard Web3 services platform that has enabled trillions of dollars in transaction volume across DeFi, insurance, gaming, NFTs, and other major industries. As the leading decentralized oracle network, Chainlink enables developers to build feature-rich Web3 applications with seamless access to real-world data and off-chain computation across any blockchain and provides global enterprises with a universal gateway to all blockchains.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link. To discuss an integration, reach out to an expert.
About Mycelium
Mycelium is the connective tissue for global digital markets. Since 2019 Mycelium has built core blockchain infrastructure, contributing to an ecosystem which delivers more accessible, equitable, and efficient financial markets to users. Establishing one of the first Verified Chainlink Oracle Node’s in 2019, and later launching two decentralized derivative products - Perpetual Pools and Perpetual Swaps - Mycelium’s mission is to provide trusted, secure tools that empower individuals to invest and create their own financial future on-chain.
To learn more about Mycelium, visit mycelium.xyz or join our network on Twitter.
