Chainlink Launches 24/7 RWA Data Service With Aave as Initial Partner
Summary
- Chainlink (LINK) said it has launched Chainlink 24/7, a service that provides round-the-clock real-world asset (RWA) data.
- Aave (AAVE) is participating as an official partner, allowing collateral management and position risk management even on weekends and holidays.
- Chainlink said the new service can reduce the burden of managing multiple pricing sources and building systems to switch data by time of day.
Forecast Trend Report by Period
Chainlink has launched a round-the-clock data service for real-world assets, or RWAs.
The company said Oct. 29 that it is rolling out Chainlink 24/7, a service that provides RWA price data for assets including stocks and commodities on weekends and holidays. DeFi lending protocol Aave is participating as an official partner.
Chainlink 24/7 extends the availability of Chainlink’s existing 24/5 U.S. equities streaming service to weekends and holidays. The earlier service supported premarket, regular trading, after-hours and overnight trading on weekdays. Data is provided through Chainlink Data Feeds and Data Streams.
The service allows lending protocols to assess the value of tokenized collateral and manage position risk when traditional markets are closed. Aave is adopting it for around-the-clock collateral management. Chainlink also cited continued collateral valuation after traditional financial markets close as a key use case.
Chainlink said the new service can reduce the burden of managing multiple pricing sources or building separate functions to switch data based on the time of day.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul