Total Value Secured (USD) by the Chainlink Network
reputation.link has a new feature. - 2020-09-17
Hi all! We’re super excited to announce a new feature on reputation.link that brings us one step closer to an end-to-end visualisation of Chainlink’s universally connected smart contracts.
reputation.link now displays the total value secured (USD) by the Chainlink network for integrated protocols. We have begun by focusing on Aave, Synthetix and Nexus Mutual, with many more to come.
Synthetix provides a list of the Chainlink feeds that it uses to power its synths, all of which are secured by the Chainlink network.
Our backend reads the historical supply data for each listed synth that is powered by Chainlink. The historical supply data for a synth is multiplied by the spot price. This is done for all synths and summed to retrieve the total value secured by the Chainlink network.
Similarly, at the time of writing, Aave uses 20 of Chainlink’s price feeds to determine the lending rates and prices of different markets. reputation.link reads the historical supply data for these Aave tokens along with their spot price to calculate the total value secured by the Chainlink network.
Nexus Mutual leverages Chainlink’s DAI/ETH price reference contract to provide on-chain valuations to its multi-currency capital pool. reputation.link reads the size of their capital pool from their PoolData contract which is the value that is secured by the Chainlink network.
We’re currently in the process of fetching the total value secured by Chainlink for ForTube, dYdX, Loopring and several others, so stay tuned.
As always, we would love to hear your thoughts on this feature. Please join the conversation on our Discord channel!