Chainlink Introduces DeFi Yield Index for Decentralized Finance Market

Chainlink, a leading decentralized oracle network, has launched a new product aimed at the decentralized finance (DeFi) market. The Chainlink DeFi Yield Index is a data product that aggregates lending rates across the DeFi ecosystem, providing real-time on-chain activity to ensure accuracy, robustness, and market representativeness.

Partnership with Space and Time

Chainlink has integrated with Space and Time, a leading data warehouse, to introduce the Chainlink DeFi Yield Index to the market. Space and Time, which recently raised $20 million from venture capital investors, will provide its blockchain indexer and database to support the index.

“Chainlink has established itself as the standard for verifiable data across DeFi and the emerging on-chain finance ecosystem, and Space and Time provides a transformative database solution that unlocks advanced Web3 use cases,” said Scott Dykstra, co-founder of Space and Time.

Benefits and Use Cases

The Chainlink DeFi Yield Index is designed to benefit capital markets institutions, DeFi protocols, and the broader community of users. Participants can leverage the index for:

  • Yield-earning opportunities
  • Risk management
  • Efficient capital deployment

Initially, the index will be calculated for the largest and most liquid DeFi market assets, including USD Coin, Tether, wrapped Bitcoin, and wrapped Ethereum.

Index Administration and Calculation

Chainlink will serve as the index administrator, while Space and Time will act as the calculation agent, ensuring fairness, accuracy, and transparency.

Chainlink’s Growing Suite of Products

The DeFi Yield Index adds to Chainlink’s growing suite of products, which includes:

  • Chainlink Price Feeds
  • Data Streams
  • Cross-Chain Interoperability Protocol
  • Proof of Reserve

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