Chainlink, the Web3 services platform has announced that Two Sigma Securities will become its data provider. The latter is a market maker and provider of quantitative liquidity. Their collaboration is part of Chainlink’s efforts to bring its high-quality market data to the blockchain ecosystem. The provision of data would further expand the use cases of smart contract applications on-chain. Contracts depend on the aggregation of data sources for financial markets.
An important contribution to Chainlink’s decentralized oracle networks
Two Sigma Securities is one of the largest market makers in the financial markets. Its venture capital arm has just raised $400 million through two funds that will invest in crypto and DeFi. This time around, Two Sigma will be bringing their high-quality, proprietary data to Chainlink’s DON networks. Thus, inviolable oracle reports can be generated. In other words, it will expand the use cases of on-chain smart contract applications. Developers in the Web3 ecosystem can now support a wide range of smart contract use cases. Which is possible with access to premium market data from Two Sigma Securities.
For Two Sigma Securities, this is an opportunity to make a fundamental contribution to building a new decentralized financial market infrastructure. It will also enable building risk management applications on any blockchain or layer 2 network. According to Chainlink’s Head of Data Products, Yaser Jazouane, performing in-depth quantitative expertise is fundamental. This, in order to produce highly accurate price data for the long-term growth of the DeFi ecosystem.
A collaboration of Two Sigma and Chainlink at the service of DeFi
Chris Marty, the CEO of Two Sigma, stated their eagerness to work with Chainlink. The collaboration aims to bring their data to support the decentralized financial infrastructure. As a market maker and data provider, they are aware of their essential role in this partnership. Indeed, Two Sigma contributes to the cultivation of a healthy digital asset ecosystem. Also he added that they are excited about the value cryptos can bring to the market as it evolves.
It should be noted that with more than 690,000 active users, Chainlink is the most used oracle network. This position earned him a total amount of more than $6.1 trillion in transactions (TVE), according to Dune Analytics. It allows the implementation of multi-functional Web3 applications and smart contracts. Two Sigma Securities, on the other hand, regularly executes more than a billion shares a day. To do this, they employ their models and their high performance trading system. Founded in 2009, its goal is to make global financial markets more efficient.
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