We are excited to announce that we are launching our data service through Chainlink and working with Chainlink Labs to create novel financial data products for DeFi. As one of the leading decentralized oracle networks in the blockchain industry, Chainlink serves as critical blockchain middleware for enabling existing APIs to seamlessly and securely deliver data to on-chain applications.
By leveraging Chainlink, we can now:
- Contribute highly sophisticated asset pricing data to Chainlink decentralized oracle networks (DONs) to generate tamper-resistant oracle reports.
- Offer our reference price data for over 100+ crypto spot markets directly on-chain for immediate use within DeFi and other smart contract applications.
- Create innovative data products for DeFi in collaboration with Chainlink Labs.
Developers will be able to use GSR’s premium analytics to support a wide range of smart contract use cases that rely on an aggregation of data sources for cryptocurrency market data, eventually including options and futures products, yield products, prediction markets, algorithmic stablecoins, yield farms, and more.
GSR chose to deliver market data and create novel data products using Chainlink due to its secure, blockchain-agnostic, and future-proof technology. Through Chainlink, we can easily connect to a multitude of leading blockchains and layer-2 platforms and begin distributing our data, enabling us to reach the widest market possible.
“Our collaboration with Chainlink Labs will enable us to accelerate the adoption of trust-minimized financial applications through the provision of high-quality market data and creation of novel financial data products,” said Francisco Lopez, Co-Head of Trading Platform Engineering, GSR. “GSR now also has a future-proof bridge to connect our data assets to any blockchain environment, now or in the future, due to Chainlink being blockchain-agnostic.”
GSR is leveraging Chainlink because it provides a multitude of critical features, such as:
- Credential Management — Chainlink nodes can securely manage API keys and account logins, leading to a seamless integration in which Chainlink nodes can purchase GSR API subscriptions in the same manner traditional users do today.
- Blockchain Agnostic — Chainlink is blockchain agnostic, meaning our data can be made available on any current or future blockchain environment.
- Widely Adopted — Chainlink is the most widely used oracle network in the blockchain industry, offering us access to a vast addressable market of potential data consumers.
- Provably Secure — Chainlink is thoroughly audited open-source software designed according to leading academic research, already proven to secure billions of dollars in value live in production.
“High-quality market data is vital to the growth of the multi-chain ecosystem,” stated Sergey Nazarov, Co-founder of Chainlink. “By launching its data service through Chainlink, GSR Markets is able to access the expanding blockchain economy and help power smart contract innovation.”
GSR is deeply embedded in every major sector of the cryptocurrency ecosystem. We work with leading cryptocurrency projects, exchanges, funds, and miners as well as financial institutions taking their first steps into the world of digital assets. GSR’s trading technology is currently integrated with 60 cryptocurrency trading venues and trades over $4 billion a day.
Founded in 2013, GSR is a global crypto market maker with 220 employees in 10 countries. We specialize in providing liquidity, risk management strategies, and structured products to sophisticated global investors in the digital assets industry. Our leadership team, consisting of veteran finance and technology executives from firms including Goldman Sachs, Citadel, J.P. Morgan, and Two Sigma, has created one of the world’s fastest and most robust digital asset trading systems. For more information, please visit gsr.io.
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.