AlgoTrader, a provider of institutional trading technology for digital assets, has announced the release of its EOSIO Market Data Oracle. 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.
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 claims to provide 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 visualization of the latest market prices. As the project is open-source, it is available to everyone and can be easily customized to user needs.
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.”
Find out more about AlgoTrader’s Market Data here