 | Just came across with this Chainlink Tweet that announces a new data product they have launched, Chainlink DeFi Yield Index (CDY Index) which aggregates market wide DeFi lending rates using Chainlink standard. This is a very important development for institutional adoption of DeFi tracking. As you know, data reliablitiy is very important and one of the biggest barriers for traditional finance (TradFi) users entering DeFi is the lack of reliable aggregated data on lending yields. CDY index goal is to solve this problem standardizing and simplifying access to real time on chain lending rates data. Now you dont have to manually track different protocols and compare them falling into a mess of different data. Now they can easily have a clear picture of DeFi lending opportunities at once. To achieve this product they have used Space and Time (SxT) technology for the calculation process. This tech ensures that the index is robust, tamper proof, etc. making this data valuable for institutions. This whole process is also decentralized and makes the data also transparent, accurate and resistant to manipulation. This tool is not only useful for institutions, it is also for individuals that want to compare yields across protocols instead of having to join multiple platforms to find the best rates. Another step forward to reduce the gap between DeFi and TradFi and making things a lot more easier. What is lending yield? Lending yield is the money a lender earns from making loans and it is usually a %. It comes from interest and fees paid by borrowers. Sources:
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