Chanlink has launched a new product for the purpose of decentralized finance market.
according to a blog postChainlink Defi Yield Index is a data product that takes advantage of the standard of decentralized Oracle network to collect lending rates in decentralized finance ecosystems.
Chainlink (Link) has integrated zero-knowledge proof data platform space and time to introduce chainlink Defi Yield Index in the market. Space and Time is a major data warehouse that has recently raised $ 20 million from Venture Capital Investors.
The defi yield index uses space and time blockchain indexer and database to bring real -time chain activity to the index, to ensure accuracy, strength and market representation.
Chanlink says that its new decentralized finance products will benefit the capital market institutes, decentralized finance protocols and the broad community of users. These participants can avail the index for yield-earning opportunities, risk management and efficient capital governance.
“Chanlink has established itself as a standard for verification data in DEFI and emerging onchen Finance Ecosystem, and Space and Time provides a transformative database solution that unlocks upgraded web 3 use cases,” The co-founder of Scott Dystra, Space and Time said. “We are excited to provide sequencing and database infrastructure to support the calculation for the Chanlink DEFI Yield Index and enable financial institutions to occupy more opportunities in public blockchain ecosystems.”
Initially, the index will be counted for the largest and most liquid decentralized finance market assets, including USD coin, ther, wrapped bitcoin and wrapped atherium. The Chanlink will serve as the index administrator, while the space and time will act as a calculation agent, ensure fairness, accuracy and transparency.
The Defi Yield Index adds to the increasing suit of the channel’s products, including the chainlink price feed, data stream, cross-chain interoperability protocol and evidence of the reserve.
