In a smart move to make index and mark prices faster and easier to get, the Sui Foundation, known for creating the Sui layer-1 blockchain, has joined forces with Stork, a company that provides off-chain data feed services.
This partnership aims to change how traders and developers get important market data, bringing in a new era of accessibility and speed.
Stork’s Cutting-Edge Role in Real-Time Pricing for Sui Foundation
Stork sets itself apart in the world of super-fast trading by delivering updates for more than 80 price feeds in just milliseconds. The company claims superior efficiency compared to other decentralized oracles. Integrating Stork’s real-time pricing data into the Sui blockchain is poised to revolutionize trading venues handling perpetual swaps and options.
With instant access to precise market data, book management becomes more efficient, reducing the risk of losses from liquidations due to undercollateralization.
Stork doesn’t just stop at index pricing; it also covers mark prices, crucial in derivatives trading. These mark prices represent a contract’s actual value, playing a stabilizing role during times of market volatility.
Sui Blockchain’s Rise and Partnership Boost with Stork
Founded by ex-employees of Meta Platforms, the Sui blockchain made its mainnet debut in May and has quickly become a notable player in the crypto world.
Currently, it boasts a total value locked (TVL) of around $329 million, according to DefiLlama data. The collaboration with Stork is set to enhance Sui’s market standing, offering users swift and dependable access to essential pricing data.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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