Polymarket is now using Chainlink to verify crypto market prices more accurately.
As cryptocurrencies rallied on Sept. 12, with Bitcoin surging past $115,000 and altcoins following suit, Chainlink announced on X that its network’s total value secured (TVS) had surpassed $100 billion.
This value is an all-time high, further proving the Oracle platform’s growth after surpassing TVS milestones for 2021-based stakes. TVS represents the aggregate value of assets secured by Chainlink’s decentralized infrastructure, so its growth represents a clear signpost for increased adoption and confidence among DeFi and traditional finance users.
Chainlink’s TVS has more than doubled this year, from about $38 billion initially to $93 billion in mid-August before breaking through a $100 billion valuation. The growth represents the proliferation of DeFi protocols and enterprise use cases supported by Chainlink’s oracles offerings.
Recent developments have fueled this momentum, including Chainlink’s partnership with Intercontinental Exchange to integrate foreign exchange and precious metals data into its Data Streams and the U.S. Department of Commerce’s move to bring key economic data on-chain via Chainlink.
According to DeFiLlama, lending protocol Aave accounts for the largest share of Chainlink TVS, securing more than $70.9 billion, around 70.75% of the total, across 17 chains. The top networks for Aave v3 include Ethereum, Arbitrum, and Base. Other notable contributors include Maple, Compound v3, SparkLend, and Solana-based Kamino.
As TVS climbed, the network’s native token LINK also gained traction. On Sept. 12, LINK traded around $24.70, up nearly 5% on the day and 11% over the past week.
As earlier reported by Cryptopolitan, Polymarket has adopted a new approach to resolving certain markets on its platform, giving the oracle platform Chainlink power over some of its users’ price predictions.
Placing more emphasis on the “accuracy and speed” of markets that depend on the performance of digital assets, Chainlink noted that it is now Polymarket’s primary source for verifying whether a price was achieved within a certain time frame.
Chainlink co-founder Sergey Nazarov commented on this development, calling it a “pivotal milestone,” saying “high-quality data and tamper-proof computation” can bolster trust in prediction markets.
While the collaboration with Polymarket will concentrate on markets for Bitcoin and other cryptocurrencies at the beginning, Chainlink’s data streams provide data on 366 trading pairs. Chainlink noted the companies are also looking to tackle “more subjective questions.”
The oracle platform constantly fetches and aggregates off-chain data from multiple sources, but UMA remains Polymarket’s primary oracle, where truth is determined through token holder votes. UMA’s protocol is built with incentives to promote accurate resolutions, though critics argue that token-rich participants can sway it.
In March, Polymarket admitted that one market tied to a minerals deal between the U.S. and Ukraine “resolved against the expectations of our users and our clarification” because of UMA’s system. Still, the platform insisted the outcome “wasn’t a market failure,” so refunds could not be issued.
A few days ago, UMA approved a proposal restricting who can put forward resolutions in Polymarket disputes. According to an official update shared in UMA’s Discord server, the change introduced an allowlist, which initially included 37 proposers.
The Oracle platform’s association with Polymarket comes as it onboards other high-profile names. Earlier this week, Chainlink co-founder Sergey Nazarov revealed that the company is working with more Trump administration agencies to bring certain federal government functions on-chain, following its collaboration with the Department of Commerce on data feeds.
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