# Chainlink Unveils Fresh Data Offering for Decentralized Finance
Chainlink has introduced a novel offering tailored for the decentralized finance sector.
Chainlink (LINK) has incorporated the zero-knowledge proof data platform Space and Time and has launched the Chainlink DeFi Yield Index for the market. Space and Time, a prominent data warehouse, previously secured a $20 million investment from venture capital backers.
As per a blog entry, the Chainlink DeFi Yield Index is a data product that leverages the benchmarks of a decentralized oracle network to compile lending rates within the decentralized finance environment.
Chainlink asserts that its new decentralized finance product will be advantageous for capital market entities, the wider user base, and decentralized finance protocols. These stakeholders can utilize the index for effective capital distribution, risk mitigation, and access to yield prospects.
The DeFi Yield Index leverages Space and Time’s blockchain indexer and database to integrate real-time on-chain activity into the index, thereby ensuring market representation, resilience, and precision.
> “Chainlink has solidified its position as the benchmark for verifiable data within the burgeoning on-chain financial ecosystem and DeFi, and Space and Time delivers a groundbreaking database solution that unlocks advanced Web3 applications,” stated Scott Dykstra, co-founder of Space and Time. “We are pleased to furnish the indexing and database infrastructure to facilitate the computation of the Chainlink DeFi Yield Index and empower financial institutions to capitalize on more prospects within the public blockchain ecosystem.”
Initially, the index will be computed for the most liquid and substantial decentralized finance market assets, encompassing wrapped The Rise of Ethereum Applications: The Emergence of Stablecoins Issued by Banks, wrapped Bitcoin, Tether, and USD Coin. Chainlink will serve as the index administrator, while Space and Time will function as the calculation agent to ensure transparency, accuracy, and impartiality.
The DeFi Yield Index broadens Chainlink’s products, which encompass Chainlink rate streams, information flows, cross-chain compatibility agreements, and proof of resources.
