State of the Index Report — ORCL5

ORCL5 Synopsis:

ORCL5, by Indexed Finance (Indexed.Finance) encompasses the top protocols working to capture real-world data and make it available on-chain for developers, analysts, and smart contracts. Each member is innovating on-chain data provision and growing the DeFi landscape, from AI data processing to synthetic asset creation you’ll find the most influential data protocols in ORCL5.

Current Constituents:

LINK — 61% — $151,045 — Protocol for bridging real-world data to on-chain smart contracts.

UMA — 12% — $31,471 — Protocol for creating synthetic assets and derivatives on Ethereum.

BAND — 11% — $25,658 — Blockchain agnostic decentralized oracle and API provider.

ORAI — 10% — $24,464 — AI-driven blockchain oracle and API provider.

DIA — 5% — $13,854 — Blockchain agnostic, trustless, and scalable oracle and API provider. — *Phasing Out*

API3 — 1% — $3,639 — Protocol for providing API data feeds in a decentralized manner. — *Phasing In*

Performance:

Token Price: $11.17 -5% (1mo)

Current TVL: $250K

Trading Volume: $3K (7d avg)

Burn Fees Collected: 147.43 ORLC5 — $1,648

Latest News:

LINK:

• Chainlinks VRF, a function that generates verifiably random numbers hits all-time high usage in September. Largely spurred on by the increasing number of projects launching NFT’s, Chainlink saw 1.1M VRF calls in September 2021, an 156% increase in the number of calls since July 2021. Source
• Chainlink discussed its Cross-Chain Interoperability Protocol (CCIP) in-depth, showing how it can be both blockchain agnostic and secure against central points of failure. Source
• Brownie, a project developing a Python-based testing framework for Solidity smart contracts is accepted into the Chainlink Community Grants program. Source
• LINK 30d Performance:

UMA:

• In their latest article, UMA dives into the details of their first Range Token implementation and subsequent success of raising funds for their DAO. The Range token (rtUMA-0821) was minted on June 30th, 2021 with an expiry of August 31st, 2021, the sale of these range tokens allowed the DAO to raise $2.6M USDC in exchange for 224,982 UMA tokens, the same sale would have cost 350,000 UMA if done through traditional funding methods. Source
• BarnBridge, Yield Enhancement Labs, and B.Protocol each launch their own Liquidity Mining rewards utilizing UMA’s KPI options. The KPI options liquidity rewards allow these protocols to reward their communities for meeting specific goals like reaching target TVL’s or maintaining balance within certain pools all while potentially saving the DAO’s native token reserve. Source
• UMIP-133 passed, adding $PERP, $POOL, and $GRO as new collateral options. Source
• UMA 30d Performance:

BAND:

• Band Protocol has successfully completed its Phase 2 Mainnet upgrade. The upgrade improves all aspects of the BandChain network and allows for streaming revenue to data providers as well as adds support for more advanced data offerings. Source
• Moonriver, the Kusama-native EVM smart contract parachain integrates Band Protocols oracle price feeds and APIs to allow Ethereum-native smart contracts to easily be deployed on the Kusama network. Source
• BCIP-4 Active until 10/15, proposes enabling oracle requests across the Cosmos InterBlockchain Communication (IBC) Protocol. If this vote passes it will allow all Cosmos networks to query price feeds and APIs from Band Protocol. Source
• BAND 30d Performance:

ORAI:

• Oraichain Studio announces a collaboration with CosmWasm, the Cosmos SDK provider. Oraichain will assist CosmWasm with the development of an open-source IDE that will be compatible with all Cosmos networks. Source
• Oraichain’s Data Hub officially released providing a new marketplace to decentralize data provision and monetization. Users will now have access to robust datasets which can be used to train AI and other machine learning algorithms. Oraichain plans to expand the marketplace to include requests for custom and enterprise-level datasets. Source
• Oraichain introduces a new system for creating and maintaining royalties with their all-new Royalty Protocol. The protocol allows for multiple creators and multiple owners to be configured on an asset or dataset. This new evolution in royalty management brings about a more flexible royalty model than is currently available in Web3 networks. Source
• ORAI 30d Performance:

DIA:

• DIA deploys its oracle infrastructure on the Kusama Moonriver EVM network. This integration allows smart contracts running on Moonriver to query DIA’s price feeds for BTC, DIA, ETH, and USDC. Source
• Dfyn, integrates DIA’s oracle price feeds in their new Polygon-based prediction markets. This is DIA’s first foray into DeFi prediction markets and is made possible by providing Dfyn with volume-weighted average price data. Source
• DIA goes in-depth on their DIA Autonomous Rights Tokens (ARTs) explaining how they are used to secure access rights to decentralized data sources. ARTs are broken up into two parts sARTs and dARTs, sARTs represent data sources and the ownership of that data source, while dARTs represent a user’s right to access/use the data provided by an sART. Source
• DIA 30d Performance:

API3:

• API3 joins the Bitcoin Alliance through its decade-long partnership with Open Bank Project. The Bitcoin Alliance is responsible for supporting El Salvador’s adoption of Bitcoin and Crypto-friendly financial services. API3 will be providing on-chain data to El Salvador’s national bank Banco Hipotecario through the use of their Airnode API technology. Source
• API3 and Boba Network partner to bring price and data feeds to the layer 2 scaling solution. Boba Network uses Optimistic Rollups to provide fast and secure scaling to the Ethereum network and with this partnership will integrate API3’s Airnode-enabled APIs and dAPIs to provide secure data for smart contracts. Source
• API3 30d Performance:

*Data current as of 10/09/2021.

About Indexed Finance:

Indexed Finance (Indexed.Finance) is a project focused on the development of passive portfolio management strategies for the Ethereum network.

Indexed Finance is managed by the holders of its governance token NDX, which is used to vote on proposals for protocol updates and high-level index management such as the definition of market sectors and the creation of new management strategies.