Earlier today, Digital Asset Research (DAR), an institutional-grade specialized provider of price data, research, and insights for digital assets, announced it would provide blockchains with Institutional-Grade Data for 1,000 Digital Assets using Chainlink.
DAR is a specialized price data, research, and insights provider, and its clients include Bloomberg, FTSE Russell, and Wilshire.
DAR Supplies Blockchains with Data through Chainlink
Yaser Jazouane, Head of Data Products at Chainlink Labs, discussed the news with DAR. He said, “The DeFi economy on any blockchain or layer-2 environment relies on high-quality market data and asset valuation services from firms like Digital Asset Research.”
According to the announcement, DAR’s vetting capabilities are impressive. The company processes 240+ million trades to price over 4,900+ assets. With the help of the decentralized oracle network Chainlink, DAR data is now accessible to many blockchains in the industry.
“The addition of DAR’s institutional-grade price data to Chainlink helps enhance accuracy and security for any blockchain application, now and in the future, that needs digital asset price data.” Said Yaser.
The announcement is said to be a big moment for both DAR and the Chainlink Network as it is an event that favors both parties.
DAR to Provide Clean Price Data for 1000 Digital Assets
Using Chainlink, DAR would supply ‘clean’ price data for 1,000 digital assets on blockchains. That data, according to the announcement, has been meticulously aggregated from high-quality decentralized and centralized exchanges. The data is also said to have been further filtered for outliers, exchange reliability, and more.
Doug Schwenk, CEO of Digital Asset Research, stated, “As the market leader for blockchain middleware and oracle services, Chainlink provides secure and reliable connectivity between data providers and blockchain applications.”
He added, “By using Chainlink, we’re immediately able to access the largest network of applications that need our data, and we can help Chainlink set standards for transparency, quality, and accuracy for price data on any blockchain, without changing our existing infrastructure.”
Some Benefits of DAR
DAR is an accurate data provider as it has clean price data. With this advantage delivered to Chainlink decentralized oracle networks (DONs), it will generate trust-minimized price oracle reports. High-quality reports like this are necessary for DeFi protocols, which rely on robust pricing data for various tasks such as measuring risk, enabling swap markets, optimizing liquidity, and more.
The fact that DAR’s numbers are trusted by well-known clientele like Bloomberg, FTSE Russell, and Wilshire points to the company’s respected standing among major institutional players. DAR is already actively used within the Bloomberg Terminal, one of the most popular tools for investors and traders in the financial world.
DAR using Chainlink to deliver market data to blockchains helps the data provider firm to expand its coverage and bring greater trust to DeFi on layer 1 blockchains or layer-2 platforms. As an industry-standard Oracle infrastructure, Chainlink connects DAR to blockchain applications that have already consumed over 4 billion data points from the Chainlink oracle Network.
