The native token of the Chainlink network, LINK, surged more than 5% following an announcement of a partnership with the U.S. Department of Commerce to bring official government economic data on-chain. This initiative marks a groundbreaking effort to connect public data infrastructure with blockchain applications.
Key macroeconomic statistics from the Bureau of Economic Analysis—such as Real Gross Domestic Product (GDP), the Personal Consumption Expenditures (PCE) Price Index, and Real Final Sales to Private Domestic Purchasers—are now accessible on-chain through Chainlink Data Feeds. Six data points in total are being published, including both absolute levels and annualized percentage changes.
The data is being made available across ten blockchain networks, including Ethereum, Avalanche, and Optimism. Chainlink states that the feeds will update monthly or quarterly, reflecting the release schedules of their traditional counterparts.
This initiative opens new opportunities for developers in DeFi and beyond. For instance, lending protocols could adjust interest rates based on GDP trends, while prediction markets might incorporate the PCE Index to gather inflation forecasts.
“Bringing U.S. government data on-chain unlocks innovative use cases for blockchain markets, such as automated trading strategies, increased composability of tokenized assets, the issuance of new types of digital assets, real-time prediction markets for crowdsourced intelligence, transparent dashboards powered by immutable data, and DeFi protocol risk management based on macroeconomic factors,” said a representative.
Chainlink has strengthened its engagement with U.S. policymakers this year, including several meetings to clarify how blockchain infrastructure fits within existing regulations and to assist in establishing new legislative initiatives.
By integrating federal economic indicators on-chain, Chainlink aims to normalize blockchain as a destination for mission-critical public data, offering transparency and composability that traditional systems cannot easily provide.
Read more: Chainlink’s LINK Gains on Joining SEC Crypto Task Force’s Tokenization Initiative
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