GSR and Chainlink announce collaboration to bring premium analytics to DeFi

GSR has launched its data service through Chainlink (LINK/USD) and is collaborating with Chainlink Labs to create innovative financial data products for DeFi, Invezz learned from a press release.

Chainlink is a leading decentralized oracle network, which serves as critical blockchain middleware to enable APIs to deliver data to on-chain applications seamlessly and securely.

Tamper-resistant reports, reference price data on-chain, and more

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With Chainlink, GSR can offer reference price data for over 100 crypto spot markets directly on-chain for immediate use within DeFi and other smart contract applications and contribute sophisticated asset pricing data to Chainlink DONs to generate tamper-resistant oracle reports.

They can also create innovative data products for DeFi in collaboration with Chainlink Labs. Developers can use GSR’s premium analytics to support all kinds of smart contract use cases relying on crypto market data aggregation.

Eventually, these will include prediction markets, options and futures products, yield farms and yield products, algorithmic stablecoins, and more.

Secure, blockchain-agnostic technology

GSR chose Chainlink for this initiative due to its secure, future-proof, blockchain-agnostic technology. It has helped them connect to a myriad of leading blockchains and L2 platforms and start distributing data, thus reaching the widest market possible.

Francisco Lopez, co-head of Trading Platform Engineering at GSR said:

Our collaboration with Chainlink Labs will enable us to accelerate the adoption of trust-minimized financial applications through the provision of high-quality market data and creation of novel financial data products. GSR now also has a future-proof bridge to connect our data assets to any blockchain environment, now or in the future, due to Chainlink being blockchain-agnostic.

Sergey Nazarov, cofounder of Chainlink added:

High-quality market data is vital to the growth of the multi-chain ecosystem. By launching its data service through Chainlink, GSR Markets is able to access the expanding blockchain economy and help power smart contract innovation.

GSR is represented in every major crypto sector

GSR is ingrained in every major crypto ecosystem sector and collaborates with leading cryptocurrency exchanges, projects, funds, and miners. They also partner with financial institutions making their first moves in digital assets.

At the moment, GSR’s trading technology is integrated with 60 crypto trading venues. Its daily trading volume exceeds $4 billion.