Chainlink, the largest blockchain oracle provider, is betting on also becoming the leading index provider in the industry. On Thursday, the Ethereum-based company unveiled its DeFi Yield Index (CDY Index), a new data product designed to provide real-time lending rate data from decentralized finance (DeFi) platforms. CDY is the first of what Chainlink plans will be many index products. Chirag Dhull, Head of Developer Platform Growth at Chainlink Labs, told The Defiant that Chainlink is uniquely positioned to be this index provider “because it has long been the backbone of DeFi.” To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
