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Sui Teams Up With Oracle Stork to Provide Builders With Fast Pricing Data

January 23, 2024 | by stockcoin.net

sui-teams-up-with-oracle-stork-to-provide-builders-with-fast-pricing-data

The Sui Foundation, the organization behind the layer-1 blockchain Sui, has announced a collaboration with Stork, an off-chain data feed oracle, to provide builders with fast pricing data. This partnership aims to enhance speed and access to unique index and mark prices for traders and builders on Sui’s blockchain. Stork, which is purpose-built for ultra-low-latency trading, will offer real-time pricing data to app developers, decentralized exchanges, and lending protocols. In addition, Stork will provide mark prices, a first for most decentralized exchanges, which are crucial for derivatives trading. This collaboration will empower builders on Sui’s blockchain with accurate and timely pricing data for optimal trading and risk management.

Sui Teams Up With Oracle Stork

The Sui Foundation, the organization behind the layer-1 blockchain Sui, has announced a partnership with Stork, an off-chain data feed oracle. The collaboration aims to enhance speed and access to unique index and mark prices for traders and builders. Stork will provide real-time pricing data to app developers, decentralized exchanges (DEXs), and lending protocols building on Sui’s blockchain.

Enhancing Speed and Access

The collaboration between Sui and Stork will significantly enhance speed and accessibility for traders and builders. By utilizing Stork’s real-time pricing data, trading venues will be able to manage their perpetual swaps and options books with greater accuracy. This will reduce the risk of loss related to liquidations when a customer’s positions are undercollateralized. The fast and reliable data provided by Stork will enable users to make more informed trading decisions in real-time.

Real-Time Pricing Data for App Developers

One of the key benefits of the partnership between Sui and Stork is the real-time pricing data that will be available to app developers. This data will allow developers to create applications that provide up-to-date and accurate pricing information to their users. Having access to real-time data is crucial for app developers, as it ensures that their users have the most current information when making investment decisions. By integrating Stork’s real-time pricing data into their applications, developers can provide a seamless and reliable user experience.

Mark Prices for Derivatives Trading

Stork’s collaboration with Sui also introduces mark prices for decentralized exchanges (DEXs). Mark prices are an important tool for derivatives trading as they are used to show a contract’s “true” value. By introducing mark prices to DEXs, Stork is addressing a crucial need in the crypto market. Mark prices are less volatile compared to regular prices, and they help to balance out abnormal price fluctuations during times of high volatility. This feature will greatly benefit derivatives traders by providing them with a more accurate representation of the value of their contracts.

Stork: An Oracle Purpose-Built for Ultra-Low-Latency Trading

Stork is an oracle that has been purpose-built for the rigors of ultra-low-latency trading. It provides updates for more than 80 price feeds in milliseconds, outpacing other decentralized oracles in terms of speed and reliability. Stork’s focus on ultra-low-latency trading makes it an ideal partner for Sui, as it aligns with Sui’s goal of providing fast and efficient blockchain solutions. By leveraging Stork’s capabilities, Sui can ensure that its users have access to real-time pricing data that is crucial for trading and investment activities.

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Publishing Speed

One of Stork’s standout features is its publishing speed. Stork is able to publish updates for more than 80 price feeds in milliseconds, ensuring that traders and builders have access to the most up-to-date information. In the fast-paced world of trading, having access to real-time data is crucial for making informed decisions and staying ahead of the market. Stork’s publishing speed sets it apart from other oracles and makes it a valuable tool for traders and builders looking for reliable and timely information.

Outpacing Other Decentralized Oracles

Stork’s ability to outpace other decentralized oracles is another reason why it is a preferred choice for traders and builders. By providing updates in milliseconds, Stork ensures that its users receive the most accurate and up-to-date information. This speed is especially important in the crypto market, where prices can fluctuate rapidly. By outpacing other decentralized oracles, Stork sets a new standard for data-feed providers and enhances the trading experience for its users.

Managing Perpetual Swaps and Options Books

The collaboration between Sui and Stork will have a significant impact on the management of perpetual swaps and options books. By utilizing Stork’s real-time pricing data, trading venues will be able to manage these books with greater accuracy. This will reduce the risk of loss related to liquidations when a customer’s positions are undercollateralized. Accurate pricing data is crucial when managing perpetual swaps and options books, and Stork’s collaboration with Sui aims to provide the necessary tools for risk reduction and improved accuracy.

Accuracy and Risk Reduction

When it comes to managing perpetual swaps and options books, accuracy and risk reduction are of utmost importance. By collaborating with Stork, Sui aims to provide traders and builders with the tools they need to ensure accurate pricing and reduce the risk of loss. Accurate pricing data allows traders to make more informed decisions, while risk reduction measures help protect their investments. Through this partnership, Sui and Stork are working together to enhance the trading experience and improve risk management for their users.

Introducing Mark Prices for DEXs

One of the key features of the collaboration between Sui and Stork is the introduction of mark prices for decentralized exchanges (DEXs). Mark prices play a crucial role in derivatives trading, as they provide a more accurate representation of a contract’s value. By introducing mark prices to DEXs, Stork is addressing a key need in the crypto market. During times of high volatility, mark prices help to smooth out abnormal price fluctuations, providing traders with a more stable reference point for their trades. This feature will greatly benefit derivatives traders and enhance the overall trading experience on DEXs.

Importance of Mark Prices

Mark prices are an essential tool for derivatives trading. They provide a benchmark for determining the value of a contract, especially during times of high volatility. By introducing mark prices to DEXs, Stork is providing traders with a more accurate representation of the value of their contracts. This allows traders to make more informed decisions and reduces the risk of unfavorable outcomes due to inaccurate pricing. The importance of mark prices cannot be overstated, and their introduction to DEXs is a significant development for the crypto market.

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Smoothing out Abnormal Price Fluctuations

One of the key benefits of mark prices is their ability to smooth out abnormal price fluctuations. During times of high volatility, regular prices can experience significant fluctuations that may not reflect the true value of a contract. Mark prices provide a more stable reference point, helping traders navigate through volatile market conditions. By introducing mark prices to DEXs, Stork is addressing this issue and providing traders with a more reliable pricing mechanism. This will help to create a more stable trading environment and enhance the overall user experience on DEXs.

Overview of Sui

Sui is a layer-1 blockchain that aims to provide fast and efficient blockchain solutions. Founded by ex-Meta Platforms employees, Sui went live on mainnet in May. The blockchain has gained significant traction and currently has around $329 million in total value locked (TVL) according to data from DefiLlama. Sui’s focus on speed and efficiency makes it an attractive option for builders looking to create decentralized applications and trading platforms. The collaboration with Stork further enhances Sui’s capabilities, providing users with fast and reliable pricing data.

Background and Valuation

The Sui Foundation, the organization behind Sui, has a valuation of $2 billion. This valuation reflects the potential and growth opportunities associated with the Sui blockchain. Since its mainnet launch in May, Sui has gained significant attention and has attracted a growing user base. The foundation’s focus on speed and efficiency aligns with the needs of the blockchain industry, making Sui a promising player in the market.

Total Value Locked

As of now, Sui has a total value locked (TVL) of around $329 million according to data from DefiLlama. This demonstrates the demand for Sui’s blockchain solutions and the trust placed in the platform by users. The TVL metric is an important indicator of the adoption and success of a blockchain platform. With a substantial TVL, Sui has established itself as a significant player in the blockchain industry.

Timeline of Sui

Sui’s journey began with its mainnet launch in May. Since then, the platform has continued to grow and gain traction in the market. The collaboration with Stork is a significant milestone in Sui’s timeline, as it enhances the platform’s capabilities and provides users with access to real-time pricing data. The partnership with Stork demonstrates Sui’s commitment to offering fast and efficient blockchain solutions.

Mainnet Launch

Sui’s mainnet was launched in May, marking the official release of the blockchain platform. This launch was a significant milestone for Sui, as it allowed users to start utilizing the platform’s features and capabilities. The mainnet launch was followed by a period of growth and adoption, with users recognizing the potential of Sui’s fast and efficient blockchain solutions.

Current TVL

As of now, Sui has a total value locked (TVL) of approximately $329 million according to data from DefiLlama. This TVL reflects the amount of capital that users have locked into the platform’s smart contracts. A high TVL demonstrates the trust and confidence that users have in the platform and the positive reception of Sui’s blockchain solutions in the market.

About Stork

Stork is an off-chain data feed oracle that specializes in providing real-time pricing data for ultra-low-latency trading. The oracle publishes updates for more than 80 price feeds in milliseconds, outpacing other decentralized oracles in terms of speed and reliability. Stork’s focus on ultra-low-latency trading makes it an ideal partner for Sui, as it aligns with Sui’s goal of providing fast and efficient blockchain solutions. By leveraging Stork’s capabilities, Sui can ensure that its users have access to real-time pricing data that is crucial for trading activities.

Features and Functionality

Stork offers real-time pricing data for traders and builders in the crypto market. Its publishing speed allows users to access the most up-to-date information for more than 80 price feeds. This real-time data is crucial for making informed trading decisions and staying ahead of the market. By integrating Stork’s real-time pricing data into their applications, developers can provide a seamless and reliable user experience.

Unique Selling Points

Stork’s unique selling points lie in its speed and reliability. The oracle’s publishing speed outpaces other decentralized oracles, ensuring that users receive the most accurate and up-to-date information. This speed is crucial in the fast-paced world of trading, where every second counts. Additionally, Stork’s focus on ultra-low-latency trading makes it an ideal choice for traders and builders looking for reliable and timely data. By partnering with Stork, Sui aims to provide its users with the best possible trading experience.

Founder Background

Sui was founded by ex-Meta Platforms employees who bring a wealth of experience and expertise to the blockchain industry. The founders’ background in Meta Platforms, a well-known tech company, demonstrates their understanding of the industry and their ability to develop innovative solutions. With their expertise in price feeds and blockchain technology, the founders are well-equipped to lead Sui and drive its success in the market.

Ex-Meta Platforms Employees

The founders of Sui were previously employees of Meta Platforms, a prominent tech company. Their experience in Meta Platforms has provided them with a deep understanding of the industry and the challenges faced by builders in the blockchain space. By leveraging their knowledge and expertise, the founders are able to develop solutions that address these challenges and provide value to users.

Expertise in Price Feeds

One of the founders’ areas of expertise lies in price feeds. Price feeds are crucial for traders and builders to make informed decisions and accurately assess the value of assets. The founders’ expertise in price feeds ensures that Sui’s users have access to reliable and real-time pricing data. This expertise sets Sui apart from its competitors and contributes to its overall success in the market.

Impact on Trading Venues

The collaboration between Sui and Stork has a significant impact on trading venues. By providing real-time pricing data, the partnership enhances the trading experience for users. Real-time data allows traders to make informed decisions and stay ahead of market trends. Additionally, the accurate pricing data provided by Stork reduces the risk of loss related to liquidations, protecting traders’ investments. The impact of this collaboration is a more efficient and reliable trading environment.

Benefits of Real-Time Pricing Data

Real-time pricing data offers numerous benefits for trading venues. By having access to the most up-to-date information, traders are able to make informed decisions and react quickly to market changes. This real-time data allows traders to stay ahead of the market and take advantage of opportunities as they arise. Additionally, real-time pricing data reduces the risk of loss related to inaccurate pricing, protecting traders from unfavorable outcomes. The benefits of real-time pricing data are crucial for creating a competitive and efficient trading environment.

Risk Mitigation for Liquidations

One of the key benefits of real-time pricing data is the risk mitigation it provides for liquidations. When a customer’s positions are undercollateralized, there is a risk of loss due to liquidation. Accurate and real-time pricing data allows trading venues to manage their perpetual swaps and options books with greater accuracy, reducing the risk of loss related to liquidations. This risk mitigation is crucial for protecting traders’ investments and ensuring a fair and transparent trading environment.

Implications for Derivatives Trading

The collaboration between Sui and Stork has significant implications for derivatives trading. By introducing mark prices to DEXs, traders now have access to a more accurate representation of the value of their contracts. Mark prices provide a benchmark for determining the “true” value of a contract, especially during times of high volatility. This improves the accuracy of contract valuation and reduces the risk of unfavorable outcomes due to inaccurate pricing. The implications of this collaboration are improved contract value accuracy and a more reliable derivatives trading experience.

Usage of Mark Prices

Mark prices play a crucial role in derivatives trading. They provide a more accurate representation of a contract’s value, especially during times of high volatility. By utilizing mark prices, traders can make more informed decisions and rely on a stable reference point for their trades. The introduction of mark prices to DEXs enhances the trading experience by providing traders with a more reliable pricing mechanism. The usage of mark prices enhances the accuracy of contract valuation and ensures fair and transparent derivatives trading.

Improving Contract Value Accuracy

The collaboration between Sui and Stork improves contract value accuracy in derivatives trading. By introducing mark prices to DEXs, traders have access to a more accurate representation of the value of their contracts. This accuracy improves the overall trading experience by providing traders with reliable pricing information. By relying on mark prices, traders can make more informed decisions and reduce the risk of unfavorable outcomes due to inaccurate pricing. The collaboration between Sui and Stork sets a new standard for contract value accuracy in the derivatives trading space.

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