deFIRE, a Decentralized Smart Order Routing engine built on Сardano, has announced a partnership with crypto metrics provider Coin360 to help with the delivery of crypto market data.
As per the announcement, the partnership is designed to benefit both the deFIRE and Coin360 ecosystems. Through this new partnership, deFIRE hopes to utilize Coin360’s low-latency data feed across multiple blockchain networks. The partnership will also allow the platform to access Coin360’s global audience.
deFIRE will =use this new opportunity to deliver distributed oracle infrastructure for Cardano, which will help enhance the growing DeFi community in the network. In addition, the partnership will reportedly help to cater to institutional order flow originators and retail traders. This means that trades by institutional users will be executed under the circumstances informed by data culled from cross-blockchain network feeds. This will eventually reduce slippage and inefficiencies when dealing with large volume swaps.
deFIRE will notably be Cardano’s first onramp for facilitating the trade of fiat currency for Cardano’s native tokens, an important feature for getting liquidity into the system.
deFIRE is currently working on a ground-breaking development for its community. The platform is reportedly working on a low latency decentralized order router. This service is aimed at the rapidly expanding universe of Cardano Native Tokens. Execution-wise, deFIRE has been connecting to the deepest pools of on-chain liquidity while also building one of its own.
deFIRE recently completed its pre-IDO funding round, which raised over $5 million. The funding round attacked various investors, including Cryptodromfund, Morningstar, and SwissBorg Ventures.
Both projetcs will be expected to harness this partnership and devlpo varioes services and products in the coming days. For instance, Coin360 could provide optimal execution services to deFIRE users via APIs for the universe of Cardano-native tokens and beyond.
Coin360 is one of crypto’s leading data aggregators that provides research tools for accessing and visualizing market data and analytics. The platform builds tools such as heat maps, books, liquidity widgets, and charts. These tools are intended to help new and expert traders stay up to date on everything relating to the cryptocurrency market. The platform also has a rich API that caters to the demands of institutional investors who require access to advanced analytics and market data. The Coin360 site records over 4.65M viewers and has a regular following that makes it one of the world’s top 16,000 websites per visit.
