Ecosystem partners include Wintermute, Vertex Protocol, Ostium, and others
NEW YORK, NY / ACCESSWIRE / August 8, 2024 / Stork Network , a leading provider of pricing oracles across several asset classes, announced today the launch of the Open Data Market, forever changing how data will be accessed in the Web3 and decentralized finance (DeFi) space.
The Open Data Market comes after the launch of Stork Perps, a solution that serves as the backbone of nearly 30 decentralized exchanges (DEXs) with more than 2,000 asset supported, and is the evolution of Stork Network's data provision platform that has been built in response to client demand and a desire to solve the problems posed by how the current market leaders operate.
Launch partners include but are not limited to Wintermute, Vertex Protocol, Dexterity Capital, CMS, Raven, Flowdesk, Orderly Network, Gains Network, Paradex, Ostium, and many other DEXs and data providers. A full list of ecosystem partners can be found on the Stork Network website.
"Incumbent price oracles providers operate walled gardens that serve to limit innovation rather than enable it," said Meredith Pitkoff, CEO of Stork Labs, adding "this model goes directly against the ethos and reason for blockchain technology, this needs to change and we are here to lead that charge."
Perpetual futures, also known as perps, require DEXs to have flexible, ready access to high-quality data that is often hard to come by or can be had at an exorbitant cost. Solving this problem led customers to want more solutions to more pain points.
"Stork has been a great partner for us from the very beginning," said Vertex Protocol Co-Founder Darius Tabatabai. "They're an integral part of our efforts to offer a best-in-class experience for our users and why we are one of the most trusted DEX's in crypto."
The future is open - join the data revolution
The Open Data Market is more than just a product, it is an entirely new framework for data provision that connects three key counterparties:
Data publishers : An SDK that empowers providers to offer verifiable, sovereign data in a standardized format where publishers control access, track usage, and permissionlessly set fees. They can push data directly to consumers with flexible signing options, incentivized to provide diverse, high-quality datasets; allowing for easier integrations that remove barriers for data consumption.
Data consumers : Protocols and dApps access open data directly from publishers or via Composite Oracle Services (COSs). They can also request new data types, create custom COSs, and incentivize publishers using any token, on any chain.
Composite Oracle Services (COS) : Customizable oracles built on Stork Network, aggregating data from multiple publishers. COSs offer control over security, redundancy, and latency, and allow developers to focus on their core application. Stork Perps are the first COS.
"Wintermute is excited to be a launch partner for the Open Data Market. Stork Network's emphasis on democratizing access to both on-chain and off-chain data through an open market improves accessibility and affordability of critical data for DeFi applications," Tim Wu, Head of DeFi at Wintermute. "This approach is crucial for the growth and innovation of the DeFi ecosystem and aligns with our mission of advancing a truly decentralized world for more transparent and efficient markets and products."
Discover everything, build anything
Developers will be able to build their own COSs using any type of data from our extensive publisher network. They can secure their COS with any kind of on-chain validation service, tailoring speed and latency to their specific requirements.
Data shouldn't be a barrier to building, it should be the fuel for innovation. Our vision is to make data fast, easy, and flexible to use, empowering the next generation of on-chain applications and experiences.
We're rapidly expanding our publisher network, developing cutting-edge COS, and nurturing a vibrant community. But we can't change the industry alone.
Follow us on Twitter/X to stay at the forefront of the data revolution: https://x.com/StorkOracle
To learn more about the Open Data Market, please visit: [blog post link]
To learn more about Stork Network, please visit: https://www.stork.network/
About Stork Network
Stork Network is a provider of decentralized data solutions for decentralized protocols. The company is led by web3 veterans and is the creator of both Stork Perps, a widely-used pricing solution supporting more than 2,000 assets, and the Open Data Market. Stork was founded on one principle - to make data accessible and affordable to all market participants.
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SOURCE: Stork Network