The Genesis Volatility Chainlink Node is Going Live
We are proud to announce that Genesis Volatility, a premier crypto derivatives data provider, has launched our own official Chainlink node, enabling us to cryptographically sign all of our API data on-chain. This generates a definitive proof on the blockchain that any smart contract consuming data from our Chainlink node is getting their data directly from the data’s source.
By running a single widely adopted oracle middleware in Chainlink, which is already securing billions of dollars in-production, our Genesis Volatility Chainlink node can sign and directly broadcast our market data across multiple blockchains simultaneously, giving smart contracts greater access to all of our APIs. Users can rely on our Chainlink node to obtain a wide variety of data metrics about the current and historical state of cryptocurrency options, futures, and volatility data, expanding both the range of data smart contract developers have access to on-chain, as well as the addressable market for which our data feeds can service.
Expanding the Crypto-Derivatives Market Through Reliable Data
Genesis Volatility is a leading provider of data analytics on the crypto derivatives market, covering the largest exchanges including both Deribit and Bit.com, with plans to further expand our coverage to other platforms like CME, Huobi, and OkEx. Through our APIs, developers are able to gain access to derivatives market data regarding current order books, historical trading activity, and realized volatility across a variety of options and futures contracts of varying expiration dates for both BTC and ETH markets.
As the cryptocurrency derivatives market expands and begins to offer more exotic financial products, it’s critical that these products have access to high-quality off-chain datasets outside of just price feeds. Being a leading derivatives data provider counted on by professional market makers like Galaxy Digital and Blocktower, we aim to aim to use our Chainlink node to make our data widely available on-chain to facilitate the growth in blockchain-based derivatives.
Since smart contracts cannot natively make API calls to external systems, we required a blockchain oracle to bridge the gap between blockchain smart contracts and our off-chain APIs. Oracles are middleware that retrieve external data on behalf of the smart contract, attest to its accuracy (through digital signatures), aggregate it (when using multiple sources/nodes), and broadcast it onto the blockchain so smart contracts can use the data in their execution. Oracles are critical to connecting the vast and already flourishing data and API economy in the off-chain world to the rapidly growing ecosystem of blockchain networks that is poised to become the future infrastructure of global finance.
After carefully examining the blockchain oracle market, we recognized the Chainlink Network as the most secure, reliable, and flexible network oracle solution on the market. Some of the key features available to us as a node on the Chainlink Network, which we did not find on other oracle solutions, include:
- Signed Data – Chainlink nodes cryptographically sign every piece of data transferred between systems, allowing us to provide definitive on-chain proof that our data came straight from the source.
- Sell to Any Blockchain – Chainlink nodes are inherently blockchain-agnostic and thus can be integrated natively into any blockchain, creating a single gateway from which we can sell to all blockchains that exist both now and in the future.
- Large Market of Users – the Chainlink Network is the most widely used oracle solution in the blockchain ecosystem with adoption from many leading DeFi players, ensuring our data already has a large accessible market of potential users.
- Proven Security – Chainlink is thoroughly audited open-source software that collectively secures billions of dollars in value for live applications, proving its ability to protect and trigger the movement of real value economic value.
We look forward to being a trusted data provider to the many new derivatives products offered on-chain in the coming years by using our Chainlink node to supply signed data directly to smart contracts across any blockchain ecosystem. We’re confident we can leverage Chainlink to foster the continued growth of DeFi, leading to a globally accessible market where anyone can get a wide variety of financial exposure in order to properly manage their assets.
“We are excited to launch a Chainlink node so we can provide the smart contract economy with a highly reliable and secure source of cryptocurrency derivatives data,” said Pat Doyle, Co-founder of Genesis Volatility. “Through Chainlink’s proven oracle infrastructure, we can enhance the data security guarantees developers have access to via cryptographic signing each piece of data we supply on-chain. Additionally, we can sell our APIs directly to the next wave of on-chain derivatives products that are sure to launch in production over the coming years, increasing our addressable market as a data provider.”
If you are a smart contract developer and want to start consuming our data feeds within your application, check out our documentation here.
About the Chainlink Network
The Chainlink Network is the most widely used and secure way to power universal smart contracts. With the Chainlink Network, developers can connect any blockchain with high quality data sources from other blockchains as well as real world data. Managed by a global, decentralized community of hundreds of thousands people, the Chainlink Network is introducing a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance and gaming ecosystems, among others.
About Genesis Volatility
Founded by Greg Magadini and Patrick Doyle, Genesis Volatility, also known as GVOL, provides an advanced suite of analytical tools for cryptocurrency options trading.
Our customers, both institutional and individual, rely on our implied volatility charts, realized volatility modeling tools and historical trade data to execute pre-trade and post-trade analysis, as well as establish risk management strategies for existing portfolios.
GVOL has the most sophisticated and in-depth crypto options analytics on the market.
Currently incorporating Deribit and Bit.com, GVOL is soon to be incorporating DeFi options and additional CeFi venues.