Market Data in Decentralized Finance (DeFi)

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Decentralized finance (DeFi) has seen massive growth in 2021, with the total value of cryptocurrency locked in DeFi protocols growing nearly 800% over the year. While user growth has been strong, infrastructure gaps that will inhibit future growth have presented themselves. Though strides have been made to bolster post-trade infrastructure, pre-trade has been largely ignored. 

DeFi has previously lacked access to high-quality market data, inhibiting its ability to mirror the more complex applications seen in traditional finance. Consortiums of major players in traditional finance have noticed this gap, developing their own networks, such as the newly formed Pyth Network, in an effort to provide the blockchain with institutional-grade market data access.

These two new complimentary Burton-Taylor reports, offered exclusively as a package, provide insight into the current state of DeFi market data. The Pre-Trade Infrastructure in DeFi: An Opportunity for a New Form of Data Provision report offers analysis of the current gaps in decentralized finance market data capabilities and how its impacting on-chain applications, while the Market Data in DeFi: Will the Pyth Network Bridge the Pre-Trade Infrastructure Gap? report provides a look at the process by which real-world data is delivered to the blockchain, while also introducing the Pyth Network as a possible solution to DeFi’s market data issues.

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