On Thursday, Chainlink announced via a blog post that it has launched the Chainlink DeFi Yield Index (CDY Index). CDY Index is a new data product that uses the Chainlink standard to aggregate market-wide DeFi lending rates.
Leveraging Space and Time’s blockchain indexer and database technology to prepare real-time chain activity for the calculation process, the CDY Index focuses on accuracy, robustness, and market representativeness.
The Chainlink DeFi Yield Index aggregates DeFi lending yields using Chainlink decentralized oracle networks. By promoting the discoverability of onchain yield opportunities on lending protocols, the CDY Index is intended to enhance capital efficiency in DeFi lending.
The CDY Index integrates robust principles of responsibility segregation, with Chainlink serving as the Index Administrator and Space and Time as the Calculation Agent, to deliver a fair, accurate, and transparent index product.
Chainlink Network (LINK) aims to provide tamper-proof data inputs and outputs for smart contracts on any blockchain. LINK is up 1% over the past 24 hours, trading at $24.40.