Chainlink is working towards becoming the benchmark index provider for the cryptocurrency market through its Chainlink DeFi Yield Index (CDY Index). The platform aims to improve transparency, efficiency, and accessibility in decentralized finance (DeFi). Chainlink's oracle network has facilitated over $9 trillion in transaction value in the DeFi sector. Traditional finance relies on well-established indexes to monitor macroeconomic trends, but DeFi lacks a similar system. The CDY Index, administered by Chainlink and calculated by Space and Time, helps market participants discover yield opportunities, evaluate risks, and optimize capital allocation. It initially focuses on liquid crypto assets like USDC, USDT, WBTC, and WETH. The CDY Index benefits institutional investors, DeFi protocols, and DeFi lending users by enhancing risk management, market transparency, liquidity, and efficiency. The advancements in DeFi have also led to a 9% increase in Chainlink's price over the last 24 hours.



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