TLDR
- Chainlink launches Chainlink 24/7, a pricing service covering holidays and weekends for traditional assets like commodities and equities.
- Off-hours prices are based on quotes from perpetual futures venues rather than closed exchanges.
- Aave is the initial partner, integrating these feeds into its institutional Horizon platform.
- Chainlink reports that its weekday infrastructure already supports over $1.6 billion in tokenized equities.
While blockchain markets operate continuously, many of the assets they follow do not. Stock markets shut down at night, on weekends, and during holidays, depriving on-chain applications of dependable pricing data.
Previously, protocols faced difficult choices: freeze their markets, depend on stale pricing, or create bespoke valuation mechanisms. Chainlink 24/7 seeks to solve this issue by providing a single, uninterrupted price series for each asset.
How Chainlink 24/7 Works
The service combines two distinct sources. During standard market hours, it relies on regular and extended session pricing. Once traditional markets close, the system transitions to an off-hours reference derived from perpetual futures quotes.
According to Chainlink, the mechanism gathers quotes across multiple futures platforms, filters out stale data, and minimizes the impact of market outliers. Notably, weekend prices mirror derivatives market activity instead of actual trades on shuttered exchanges.
Lending protocols are able to read prices published straight to the blockchain via Data Feeds. Meanwhile, prediction markets and trading platforms can leverage Data Streams for quicker updates, which additionally indicate the active market session to help applications modify risk parameters.
Aave Horizon Adopts the Feeds
Aave serves as the primary integration partner, deploying the feeds within Horizon, its institutional lending ecosystem. Horizon enables eligible investors to secure loans using tokenized assets as collateral, beginning with tokenized versions of popular US equities.
Continuous weekend pricing is essential for lending platforms because collateral valuations must remain up-to-date to properly oversee liquidation risks, regardless of whether traditional stock exchanges are closed.
Building on Earlier Pricing Products
This release builds upon Chainlink’s introduction of 24/5 pricing for US exchange-traded funds and stocks in January, which encompassed overnight, pre-market, regular, and post-market trading hours. The firm notes that its existing weekday framework currently backs more than $1.6 billion worth of tokenized stocks.
Through the addition of this weekend pricing tier, Chainlink is progressing toward around-the-clock coverage as real-world assets and tokenized equities steadily grow on the blockchain.
Written by
Yuki Yamamoto
crytonewsbulls