It will provide guarantees that the data used to set prices and settle DeFi contracts are safe, reliable and that they comply with regulatory standards.
At the end of October, Matba rofex announced its plan to leverage its existing expertise in traditional financial markets and apply it in the emerging cryptocurrency and decentralized finance (DeFi) economy.
DeFi encompasses a set of blockchain applications that provide users with unauthorized access to financial products and services without the use of custodians.
As an important part of the transition to the DeFi industry, Matba Rofex will use Chainlink, the industry’s leading network of oracles, to make its data sets available on the leading blockchains. Chainlink is a secure blockchain middleware that enables smart contracts that power blockchain applications to access external resources in the real world.
Many major data providers and companies such as Deutsche’s T-Systems Telekom, Swissom, Associated Press y Google Cloud have started integrating Chainlink to provide infrastructure and data services for smart contract applications.
Launching an official Matba Rofex-Chainlink node will begin supplying market API data to leading blockchains, so that DeFi applications can use them to set prices and settle products and services. For example, custom indices can be created to help price collateral used for DeFi loans or to settle futures and options positions at maturity.
In the same way, the Chainlink node will cryptographically sign the data that is provided in the block chain so that users have indisputable proof that the data received comes directly and without alterations from the Matba Rofex APIs.
Being the largest futures and options market in Argentina, it has extensive knowledge in the creation of high quality data sets on which high value financial instruments are supported. With more than 100 years of history, participation in the DeFi industry will increase the credibility of the data used to set prices and settle DeFi contracts, which will help attract companies and large institutions that want to leverage and / or build DeFi products and services. .
In particular, it will provide guarantees that the data used to set prices and settle DeFi contracts is safe, reliable and meets strict regulatory standards.
“As Matba rofex increases its presence in the crypto industry, we identified a real opportunity to create indexes tailored for DeFi, and that are accessible in the leading blockchains through Chainlink. Chainlink is the undisputed leader in the oracles middleware market, already helping to secure more than $ 75 billion in value for DeFi.
Matba Rofex messes with DeFi
The result of this partnership is to have a proven and future-proof solution to supply our market information to DeFi applications on any blockchain, both now and in the future, “said Ismael Caram, Deputy Manager of Financial Products. by Matba Rofex.
Since DeFi applications do not use custodians, the data is used to directly trigger the exchange of value between users during settlement, making data reliability essential for application security. Some of the ways data is used today include calculating loan collateral, settlement of derivative contracts, setting benchmarks for trading tokenized assets, setting rates exchange rates for payments, helping stablecoins maintain their parity, rebalancing automated trading strategies, and much more.
“We are excited to help a leading financial services marketplace like Matba Rofex quickly monetize its current and future data sets in DeFi and the cryptocurrency industry using Chainlink middleware. Chainlik can not only help Matba Rofex generate new revenue streams. in any emerging blockchain, but Market data sets can drive the development of more advanced and reliable products in the DeFi ecosystem, “said William Herkelrath, CEO of Chainlink Labs.
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Matba Rofex Brings Its Market Data To Leading Blockchains Using Chainlink