dxFeed has launched its own Chainlink oracle node live on mainnet which will be used to sell developers and dApps a broad range of high-quality financial data, including on-demand, real-time, and historical market prices regarding a wide range of assets like cryptocurrencies, indices, and forex.
The firm decided to leverage Chainlink, the most widely used oracle network in the blockchain industry, to quickly make its data accessible within the emerging DeFi economy.
dxFeed provides an extensive list of real-time and historical market data across the United States, European Union, Turkey, Brazil, and other global markets, as well as reference data, corporate actions, “time machine” market replay, charting and aggregated data services, and calculated data services.
The firm powers over 2.5M financial instruments for leading financial institutions with a 99.99% uptime track record. dxFeed expects its decision to supply DeFi with accurate, cryptographically signed financial market data will result in the creation of a wide range of applications.
Such applications could include derivatives contracts, synthetic assets, decentralized loans, automated trading strategies, and algorithmic assets.
Dmitrii Parilov, Managing Director of dxFeed, said: “After seeing the exponential growth of the DeFi economy, now was the perfect time to launch our own Chainlink node as a means of directly monetizing our ever expanding collection of premium data. Chainlink allowed us to quickly expose our API data to smart contract applications, providing us with both a bridge to leading blockchain networks and a way to prove the integrity of our data by signing it at the origin. This ultimately empowers the creation of the next generation of decentralized financial products based directly on high-quality data inputs from top data providers like dxFeed.”
Daniel Kochis, Head of Chainlink Business Development, commented: “We’re excited to see the launch of the dxFeed Chainlink node on mainnet, providing smart contract developers with a wide variety of premium financial data across numerous different assets and indicators. This enables the development of many new and exotic DeFi applications, further supporting the provisioning of a new decentralized financial system.”