As the industry-standard serverless web3 development platform, Chainlink Functions allows developers to build next-gen decentralized applications capable of integrating a range of real-world data sources, from public or password-protected APIs to IoT devices, enterprise systems, and more.
This week, Lendvest, a decentralized non-custodial protocol for fixed-term loans, announced it integrated Functions on Polygon and is leveraging Space and Time, the first decentralized data warehouse for blockchain applications, as its ZK-proven data layer. Lendvest is using Functions to retrieve Space and Time’s ZK-proven Ethereum data, perform verified computations, and deliver fixed-term rates to users on Polygon.
Specifically, Functions will help Lendvest access and analyze lending rates from Aave, the most liquid market on Ethereum, and return the optimal rate to its users. Utilizing Space and Time with Chainlink Functions facilitates reliable, verified read/write capabilities from Ethereum to Polygon, ensuring data used in calculations is accurate and standardized across protocols.
Ultimately, Lendvest aims to boost capital efficiency within the $32 billion DeFi lending market. Last year, Lendvest joined Chainlink Build to gain enhanced access to essential Chainlink infrastructure and integrated Cross-Chain Interoperability Protocol (CCIP) to transmit decentralized credit scores between blockchains.
“We’re excited to integrate Chainlink Functions into Lendvest and leverage Space and Time as a ZK-proven data layer, a pivotal step in enhancing capital efficiency in DeFi lending,” said Lendvest co-founder and CEO, Joshua Gottlieb. “Functions significantly enhances the capabilities of our protocol and enables us to provide verifiable rates to our users using DeFi data from liquid markets on other chains.”
To learn more about Lendvest, visit their website, X, and Telegram.