DIA, the open supply knowledge platform for decentralised finance and the UK FCA-regulated crypto index supplier CF Benchmarks introduced as we speak that they may make CF Benchmarks’ crypto index reference costs accessible by way of the DIA oracle suite.
With a complete settlement quantity of greater than $500bn since its inception in 2017, UK-based CF Benchmarks Ltd is the world’s main crypto index supplier. Acquired in 2019 by the worldwide digital asset change Kraken, CF Benchmarks offers reference charges which are tracked by ETFs and ETPs listed on exchanges across the globe, together with Canada, Brazil, Switzerland and Germany. CF Benchmarks is finest recognized for its CME CF Bitcoin Reference Price, a value benchmark utilized by the CME Group to settle Bitcoin futures and choices.
Entry to Compliant ETH and SOL costs
On this new transfer, DIA will embody CF Benchmarks’ reference costs as feeds in its knowledge providing. As a begin, reference costs for native tokens of the Layer 1 blockchains Ethereum and Solana shall be offered as oracles. Oracles are smart-contract-readable knowledge streams that allow functions working on the blockchain to ingest and browse knowledge from outdoors their very own ecosystems.
ETH and SOL reference costs shall be offered to each Ethereum-native and Solana-native builders. The supply of institutional-grade reference costs from a benchmark regulation compliant and Massive 4 audited supplier will allow safe improvement of recent monetary services and products underpinned by resilient and sturdy methodologies.
Bridging Conventional and Digital Asset Markets
However its nascency and volatility relative to extra developed conventional asset markets, the digital asset ecosystem has proven staggering progress and attracted important curiosity from retail and institutional buyers alike. With an estimated market capitalisation of $2 trillion, the digital asset market falls far behind its legacy counterpart. Merchandise just like the reference costs offered by CF Benchmarks are an important constructing block for enabling secure institutional entry and fostering regulated rails to this new asset class.
“The emergence of decentralised finance poses a problem and alternative for buyers and regulators alike”, mentioned Michael Weber, DIA’s Founder. “Groups like CF Benchmarks are on the forefront of making a secure and safe surroundings for buyers to allocate their capital. That is essential for the event and the maturing of the ecosystem and we’re excited to be part of that journey.”
“CF Benchmarks is frequently searching for methods to enhance the provision of sturdy, dependable cryptocurrency pricing knowledge, for customers of digital asset ecosystems, in addition to institutional and particular person buyers”, mentioned CF Benchmarks CEO Sui Chung. “That’s the reason we’re proud to accomplice with DIA, probably the most complete and fastest-growing oracle platforms, with a person base deeply embedded within the blockchain improvement neighborhood. We’re assured that this partnership shall be a major step in the direction of enabling the high-integrity pricing that shall be essential for mass adoption of DeFi, Web3 and past.”
About DIA
DIA (Decentralised Data Asset) is a cross-chain, end-to-end, open-source knowledge and oracle platform for Web3. The DIA platform allows the sourcing, validation and sharing of clear and verified knowledge feeds for conventional and digital monetary functions. DIA’s institutional grade knowledge feeds cowl asset costs, metaverse knowledge, lending charges and extra. DIA’s knowledge is sourced from a broad array of on-chain and off-chain sources and will be totally customised with reference to the combination of sources and methodologies. DIA’s oracles can be found to builders on all related layer 1 and layer 2 networks together with Ethereum, Solana, Polkadot, Binance Sensible Chain, Polygon, xDaiChain, Avalanche, and plenty of extra.
About CF Benchmarks
CF Benchmarks is the main supplier of cryptocurrency benchmark indices, authorised and controlled by the UK FCA beneath the UK Benchmarks Regulation. Its benchmark indices are offered by means of public methodologies and clear governance; for monitoring, valuing and settling threat in cryptocurrency monetary providers and merchandise. CF Benchmarks’ indices have been used to settle over $500bn of cryptocurrency by-product contracts, together with these listed for buying and selling by CME Group and Kraken Futures, in addition to serving because the reference index for ETFs and ETPs listed in Canada, Germany, Switzerland, France, and Brazil. CF Benchmarks is a wholly-owned subsidiary of Kraken.