Mettalex and S&P Global Platts Join Hands to Scale DeFi and Empower Commodity Traders
2022年1月28日 - 3:39AM
NEWSBTC
Mettalex, a decentralized commodities derivatives exchange on
Fetch.ai, is integrating industrial-grade price feeds in the DeFi
ecosystem leading to higher blockchain efficiencies following their
partnership with S&P Global Platts. Mettalex Empowers Commodity
Traders Details on January 25 revealed that the deal would be
advantageous to traders and businesses. Notably, Mettalex global
traders would have access to unique commodities markets with a
guarantee of smooth operations due to the use of premium and secure
price feeds supplied by S&P 500 Platts. Meanwhile, businesses’
pain points would be quickly relieved as the availability of
credible commodity and energy information on the blockchain
encourages creators to develop community-facing automated market
maker (AMM) models. At the same time, the availability of better
risk reduction methods from solutions anchored on a reliable base
layer translates to higher capital and cost efficiencies, all of
which further help democratize access to the commodities market.
The Role of Dependable Price Feeds in DeFi Innovation Matt
Eversman, the Director of Licensing and Exchange Relationships for
S&P Global Platts, said Mettalex’s decision to integrate their
price feeds recognizes the crucial role access to reliable data is
especially when rolling out innovative solutions. According to the
Director, their data would bring more efficiency in the Mettallex’s
marketplace: “We’re pleased that Mettalex recognizes the value of
the transparency S&P Global Platts brings to the commodities
markets we serve and that it endeavors to utilize our data in
innovative new ways as new technologies continue to bring
efficiency to the marketplace.” Bringing the $20 Trillion Commodity
Market to DeFi Mettalex is a decentralized commodities derivatives
platform on Fetch.ai—a distributed ledger incorporating artificial
intelligence and machine learning techniques for efficiency and
privacy preservation. Their core mission is to bring the global
commodities market estimated to be worth at least $20 trillion to
DeFi. From their easy-to-use interface, traders would trade
confidently, posting long or short positions confidently as they
use the industrial-grade energy and commodity price feeds supplied
by S&P Global Platts. More users would easily access unique and
niche commodity markets with a reliable base exploring more trading
opportunities. S&P Global Platts is an established provider of
valuable market insights that traders can use to make valuable
decisions in risk management. With a global presence, S&P
Global Platts has grown to be a leading independent supplier of
information and benchmark prices for the commodities and energy
markets. The Founder of Mettalex believes that, gradually, more
commodity assets would be available on-chain. The migration of
commodity instruments to DeFi has only been accelerated with the
integration of S&P Global Platts’ price feeds: “We believe that
a wide range of commodity assets will eventually become tradable
on-chain. Mettalex’s mission is to advance this process by enabling
the market to manage risk, particularly in new niche commodities
markets, and democratizing access to the raw materials asset class.
We are thrilled to have one of the leaders in the price benchmarks
space, S&P Global Platts, to help us in this endeavor.” The
partnership is amid a recovering global economy punctuated by
soaring commodity prices. Analysts pin the surge on various
factors, including high demand for raw materials as economies open
up, supply-side hitches because of the COVID-19 disruptions, and
financial elements such as the depreciation of the USD.
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