The native token of the Chainlink network, Link, increased more than 5% after the network announced an association with the US Trade Department. To carry the official economic data of the data chain, marking a first type effort to close the infrastructure of public data with block chain applications.
Key macroeconomic statistics of the Office of Economic Analysis, such as the Gross Real Domestic Product (GDP)personal consumption expenses (PCE) The price index and real sales to private national buyers are now accessible through Chainlink data feeds, the company announced in a blog post on Thursday. Six data points are being published in total, including absolute levels and annual percentage changes.
The data is making available to ten blockchain networks, including Ethereum Avalanche and optimism . Chainlink says that feeds will be updated monthly or quarterly, reflecting the launch schedules of their traditional counterparts.
The initiative opens new possibilities for developers to be built in Defi and beyond. For example, loan protocols could adjust interest rates based on GDP trends, while prediction markets could incorporate the PCE index for crowdsource inflation forecasts.
“Bring US government data. UU. Unlock innovative cases for Blockchain markets, such as automated trade strategies, greater composability of tokenized assets, the issuance of new types of digital assets, real -time prediction markets for the intelligence of Crowdsourced, transparent panels fed by immutable data of risk management based on macroeconomic blog factors, “Dichel.
Chainlink has deepened its commitment to those in charge of formulating United States policies this year, including several meetings with the stock exchange and values commission (SECOND) To help clarify how Blockchain infrastructure conforms to the existing rules of corridor agents and transfer transfers, as well as other legislators to help establish the genius law, the company said.
By bringing federal economic indicators in the chain, Chainlink is trying to normalize the block chain as a destination for public data of the critical mission, which offers transparency and compositional that traditional systems are not easily admitted, he said.
Read more: The tokenization initiative of the Crypto Task Force of Chainlink joins SEC
