AlgoTrader’s EOSIO Market Data Oracle provides real-time market information for the EOS Public Blockchain, enabling smart contracts to access both off-chain and on-chain data. The open-source oracle brings free access to live pricing data and supports the creation of crypto derivatives, synthetic instruments and stablecoins.
Zurich (CH) – AlgoTrader, the global leader in institutional trading technology for digital assets, announced the release of its EOSIO Market Data Oracle today. The oracle brings free access to live market data to the EOS Public Blockchain. Prices for assets of all types from a range of exchanges are accessible via an EOSIO smart contract. The project is entirely open-source and can be used to create novel products such as synthetic instruments, derivatives and stablecoins. The FinLab EOS VC Fund supported the development.
Providing off-chain information to DeFi infrastructure
The EOSIO Market Data Oracle enables smart contracts to access real-time market data, providing a link between off-chain and on-chain data. While the most well-known example of an oracle on the Ethereum network is Chainlink, its pricing oracles are not compatible with EOSIO-based blockchains. AlgoTrader’s EOSIO Market Data Oracle provides a viable alternative, allowing blockchain and digital asset companies to create digital securities, while getting live market prices simply by interacting with a smart contract, or via a REST-API. In addition, a React frontend provides a live visualisation of the latest market prices. As the project is open-source, it is available to everyone and can be easily customised to user needs.
Part of AlgoTrader’s WIRESWARM flagship solution
Commenting on the release, AlgoTrader founder and CEO Andy Flury said, “Information drives markets. It is essential that blockchain participants have access to reliable, real-time market data. Our goal was to provide the data backbone for innovative new products that will enrich the digital asset ecosystem on the EOS Public Blockchain.”
AlgoTrader is a portfolio company of FinLab EOS VC Fund, a partnership between Block.one, the publisher of the blockchain software protocol EOSIO, and FinLab, an investor in financial services technologies and blockchain globally. The FinLab EOS VC Fund is managed by C3 Management GmbH. Theo Woik, Managing Director at C3 Management, said “By making a potentially vast range of live real-market price data available on-chain, this oracle will unlock the full potential of smart contracts on EOSIO and illustrates the added value that AlgoTrader is bringing to both their clients and the wider digital asset ecosystem.”
“With rapid innovation happening across the digital asset landscape, communities are increasingly becoming more reliant on verifiable market data,” said Amanda Clark, Product Manager at Block.one. “Making AlgoTrader’s EOSIO Market Data Oracle available to the community will enrich the diversity of applications leveraging the EOS Public Blockchain, as well as creating a new bridge for developers to architect real-world solutions that spur creativity and longevity across all EOSIO-based networks.”
AlgoTrader is the global leader in institutional trading technology for digital assets that covers the entire trade lifecycle from pre-trade risk checks to order generation, automated settlement and custody reconciliation – offering best-in-class infrastructure for financial institutions. By supporting direct market access, seamless custody and core banking integration as well as full trade lifecycle automation, the AlgoTrader platform streamlines digital assets trading. Developed by a team of trading system veterans and crypto asset experts, AlgoTrader offers integrated infrastructure solutions that meet the highest institutional needs. To learn more, visit www.algotrader.com.
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About C3 Management and FinLab EOS VC Fund
C3 Management GmbH is an asset management company focused on managing venture funds which invest in exceptional blockchain technology companies worldwide. C3‘s mission is, among other things, to accelerate growth, development, and especially adoption of EOSIO-based blockchains and the EOSIO software. Towards this mission, C3 manages the FinLab EOS VC Fund, which is partly funded by Block.one and offers developers and entrepreneurs the funding they need to create community-driven businesses leveraging EOSIO. The EOS VC Fund focuses on early and growth stage technology companies and typically takes a minority equity stake. C3 operates worldwide and is located in Frankfurt, Germany.
Block.one is an asset holding and investment company that creates, incubates, and invests in businesses that build trust in transactions, transparency in systems, and efficiency in how our world works. Through strategic capital allocation and pioneering business ventures, Block.one has funded more than 100 innovative entrepreneurs to date. Block.one is also the creator of EOSIO, a highly performant open-source blockchain software, built to support and operate safe, compliant and predictable digital infrastructures. For more information, please visit Block.one.