The Sui Foundation, the driving force behind the $2 billion-valued layer-1 blockchain Sui, has announced a partnership with Stork, an advanced off-chain data feed oracle.
The collaboration is set to redefine the landscape of trading and app development by providing ultra-fast, accurate pricing data to builders on the Sui blockchain.
Ultra-low-latency trading with Stork’s Oracle
Stork is enhancing the blockchain space as a uniquely designed oracle tailored for the high demands of ultra-low-latency trading. Its exceptional capability to publish updates for more than 80 price feeds in just milliseconds distinctly positions Stork at the forefront of the industry. The remarkable speed not only sets Stork apart from other decentralized oracles but also establishes it as a leader in the realm of rapid data dissemination. Such agility is particularly vital in the fast-paced world of trading, where every millisecond can make a significant difference.
For trading venues specializing in perpetual swaps and options books, the introduction of Stork’s rapid update frequency is transforming the landscape. The platform’s ability to deliver real-time pricing data is crucial, significantly reducing the risk of substantial losses that typically occur during liquidations. This is particularly crucial in instances where customer positions are undercollateralized, a common challenge in the volatile trading market.
The real-time data provided by Stork equips trading venues with the necessary tools to respond swiftly and effectively to market changes. This not only enhances the stability and reliability of trading operations but also instills a sense of confidence among traders. The assurance of having up-to-the-minute pricing information means that decisions can be made on the most current data available, minimizing risks and fostering a more secure trading environment. The level of precision and speed in data delivery ensures that trading platforms can operate with heightened accuracy and reduced risk, marking a significant advancement in the way trading ecosystems manage and mitigate inherent financial risks.
Enhancing trading accuracy and stability
The collaboration between Sui and Stork is not just about speed; it’s also about enhancing the accuracy and stability of trading on decentralized exchanges (DEXs) and lending protocols. Stork’s provision of real-time index and mark pricing data is a game-changer, especially in derivatives trading, which dominates the crypto market.
The mark price, in particular, offers a more stable reflection of a contract’s true value by balancing and smoothing out abnormal price fluctuations during volatile market conditions. The feature, a first for most DEXs, is set to revolutionize the way traders and builders perceive and utilize pricing data.
Meredith Pitkoff, co-founder of Stork, emphasizes the importance of mark prices, stating, “Mark prices are less volatile — it balances and smoothes out abnormal price fluctuations during times of high volatility.” The approach to pricing data ensures a more accurate and fair trading environment, benefiting everyone involved in the ecosystem.
the partnership between the Sui Foundation and Stork represents a significant leap forward in the blockchain and trading industries. By combining Sui’s robust blockchain infrastructure with Stork’s cutting-edge, ultra-fast oracle services, the collaboration is set to provide traders, builders, and app developers with the most accurate, real-time pricing data available, paving the way for a more efficient, stable, and transparent trading landscape.