BOSTON (August 03, 2023) – Coin Metrics, the leading provider of crypto financial intelligence, is pleased to announce that it is providing data feeds to Aark Digital to help the company settle futures contracts on its Perpetual DEX.
Aark Digital, a Derivatives DEX for professional traders on Arbitrum, will utilize an on-chain signature from Coin Metrics to verify the price of futures contracts, leveraging Arbitrum’s Elliptic Curve Digital Signature Algorithm (ECDSA). Aark Digital recently closed a seed fundraising round with Delphi Digital, OKX Ventures, Big Brain VC, and Keyrock Trading.
“Coin Metrics is excited to provide our trusted and comprehensive data feeds on-chain to empower Aark Digital’s perpetual DEX,” said Tim Rice, co-founding CEO of Coin Metrics. “By arming Aark Digital with our institutional-quality data, we enable traders to settle futures contracts with the utmost accuracy, transparency and speed. This collaboration marks another milestone in our efforts to improve the DeFi data marketplace and foster a robust digital asset ecosystem, driving innovation while safeguarding market participants.”
Many existing Perpetual DEXs are built on oracle infrastructure with data feeds that introduce delays or lack confirmation. With Coin Metrics’ support, Aark Digital will now be able to provide a more reliable service to professional traders in real time.
As the number of oracle manipulation attacks grows and institutional users demand de-risking, developers have shown an interest in moving the core components of price oracles off-chain, benefiting from increased security, higher data frequency, and fully customizable index methodologies.
“We are most delighted to present low latency oracles, the industry’s most cutting-edge tech, researched and developed together by Aark Digital and Coin Metrics,” said the CEO of Aark Digital. “Low latency oracles play a crucial role in Aark Digital’s state-of-the-art transaction speed and stability. Thanks to market data provided by Coin Metrics, our skewness cap and market depth architecture can now provide liquidity as deep as Binance.”
Coin Metrics data is relied on by many top financial services institutions, who have shown an increased interest in digital assets and have a need for trustworthy digital asset data to drive their decision-making as market participants.
ABOUT COIN METRICS:
Coin Metrics is the leading provider of crypto financial intelligence, offering network data, market data, indexes and network risk solutions to the most prestigious institutions touching cryptoassets. Established in 2017, Coin Metrics is committed to building the crypto economy on a foundation of truth, providing authentic and accurate data with the highest standards of clarity and precision. Coin Metrics puts unparalleled insight and accuracy into crypto data and analytics so that companies can accelerate value creation and minimize risk. For more information, visit www.coinmetrics.io.
ABOUT AARK DIGITAL:
Aark Digital is the first-of-its-kind Leverage Everything Perpetual DEX. Aark Digital offers Leveraged LP and leverage trading of Super Long Tail Assets, enabled by Aark Digital’s innovative structures of Aark Digital LP (ALP) and Parallel Market Maker (PMM).
ALP changes the dynamics of LP. Single-sided LP allows liquidity providers to use stETH, BTC, USDC, and many others to LP without the need to be exposed to a basket of assets. On top of such delta-neutrality, Aark Digital enables Leveraged LP, allowing liquidity providers to leverage their LP positions and earn up to 5x APR. Further implementing funding fees and removing borrowing fees, the balanced long-short open interest exposes LPs to minimum directional risk. Now liquidity providers can protect their LP assets while earning leveraged returns.
Aark Digital introduces a new AMM architecture called PMM which reflects real-world liquidity from order books of top CEXs like OKX and Binance. This lowers traders’ price impact to ranges as low as the top CEXs, making Aark Digital the most liquid exchange among all DEX and CEXs. This enables arbitrage opportunities for 300+ pairs, including Super Long Tail Assets.
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