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HomeNewsSoroban Ecosystem Thrives as Stellar Community Fund Backs Exciting Initiatives: Reflector, Chainlink...

Soroban Ecosystem Thrives as Stellar Community Fund Backs Exciting Initiatives: Reflector, Chainlink Oracles, Elio DAO, and Soroban Smart Contract Catalog

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  • The Stellar Community Fund (SCF) is fostering the growth of the Soroban ecosystem with the support of four innovative projects: Reflector, Chainlink Oracles Relayer, Elio DAO, and a Soroban Smart Contract Catalog.
  • These projects aim to provide key tools and services for developers in the Soroban ecosystem, ranging from price feed oracles and DAO functionality to a catalog of smart contract templates.

Through the Stellar Community Fund (SCF), support continues to flow towards intriguing projects that enhance the utility and infrastructure of the Soroban ecosystem. Spotlighting the latest benefactors, four projects stand out: Reflector, Chainlink Oracles Relayer, Elio DAO, and the Soroban Smart Contract Catalog, each fulfilling significant needs for budding Soroban builders.

Reflector, designed specifically for Soroban smart contracts, serves as a price feed oracle network. It employs a web of nodes that incessantly scan the Stellar network for fresh trades to establish prices for tracked assets. Reflector’s ambitions include immediate data availability, minimal fees, efficient ledger usage, and automated cross-price calculations for any asset pair, offering a robust solution for accurate price data procurement within the Stellar ecosystem.

Next, the Chainlink Oracles Relayer emerges as a trustless Verifiable Random Function (VRF) proxy solution. Oracles play an indispensable role in numerous projects by supplying genuinely random data, which is not innately accessible within smart contracts. By implementing the Chainlink Oracles Relayer, developers in the Soroban ecosystem can utilize the might of oracles to inject randomness, thereby amplifying the capabilities of their decentralized applications.

The third project, Elio DAO, envisions bringing decentralized autonomous organizations (DAOs) to the Soroban ecosystem. DAOs revolutionize organizational management through decentralized decision-making, community governance, and shared ownership, all enabled by smart contracts. Elio DAO not only provides an interface for DAO creation and management but also paves the way for developers to customize DAOs with Soroban smart contracts.

Lastly, the Soroban Smart Contract Catalog, an open-source tool, simplifies the process of Soroban development. It offers a repertoire of Soroban smart contracts for various applications. Developers can utilize this catalog to swiftly deploy functional smart contracts, tailor existing templates, or glean educational insights.

The Stellar Community Fund continues to serve as an innovation catalyst in the Stellar ecosystem, fuelling the advancement of these groundbreaking projects as we anticipate the launch of Soroban.

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Godfrey Benjamin
Godfrey Benjamin
Godfrey Benjamin is an experienced crypto journalist whose primary goal is to educate everyone about the prospects of Web 3.0. His love for crypto was sparked during his time as a former banker when he recognized the clear advantages of decentralized money over traditional payments. Business Email: info@ethnews.com Phone: +49 160 92211628
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