Coinbase and Chainlink Unite to Publish Exchange-Grade Market Data On-Chain

Coinbase has joined forces with Chainlink to bring exchange-grade market data onto blockchain-based applications, marking a significant step towards the development of decentralized finance (DeFi). The partnership involves the publication of premium market data on-chain through Chainlink's DataLink service.

DataLink enables protocols to access order book data, spot prices, perpetual futures, and additional benchmarks across various asset classes, including crypto, metals, energy, and equity futures. This expanded dataset offers a more comprehensive view of exchange intelligence, typically confined within centralized venues.

The integration has far-reaching implications for the development of DeFi applications, as institutional-grade benchmarks become available on-chain. Developers can now work with standardized data, enabling more accurate pricing, enhanced risk management, and the creation of novel financial products.