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Tokenized equity specialist Dinari taps the Chainlink oracle network for price data to bring the crypto-focused index of S&P DJI onchain, the company told CoinDesk on Wednesday.
U S&P Digital Markets 50 Index will track 35 public companies involved in blockchain technology and 15 leading cryptocurrencies. Dinari will create an index symbol using its “dShares” offering, which allows investors to gain exposure to traditional (TradFi) and crypto financial markets through a single digital asset. Each dShare is backed 1:1 with the underlying shares and held by a regulated custodian, preserving rights such as dividends and redemptions.
While S&P DJI does not support the token itself, the index provider has confirmed that the integration of Chainlink ensures that the data that feeds it meets the standards of transparency and reliability.
Chainlink will use its decentralized oracle network to ensure that the index reflects the market performance of the market directly on the blockchain protocols. Oracles are services that provide blockchains with information from the real world that can be requested to inform blockchain programs such as smart contracts.
“By powering the S&P Digital Markets 50 Index, Chainlink enables one of the first indexes to operate onchain with real-time verifiable index data covering traditional and digital assets,” Fernando Vazquez, president of capital markets at Chainlink Labs, said in a statement.
The initiative fits into a wider trend of bringing TradFi instruments such as bonds, funds and shares, often referred to as real world assets (RWA). on blockchain binaries.
The RWA Centrifuge platform revealed in September what he called the first licensed S & P 500 index fund onchain, SPXA, traded on the Coinbase Base network and managed by Janus Henderson and Anemoy of Centrifuge.
