Measurable Data Token (MDT) announces the launch of Measurable Finance (MeFi), a blockchain oracle for capital market financial data.
MeFi is made for the decentralized finance (DeFi) industry. It contributes off-chain external financial data feeds to public blockchains, empowering the DeFi ecosystem with reliable on-chain data. It’s now open-sourced on Github and available to all Dapp developers who need data from the capital markets to execute hybrid smart contracts on the blockchain.
The first version of MeFi integrates with major capital markets including Nasdaq, NYSE and HKEX. The team also plans to provide other core financial data including company earnings, financial derivatives and ETFs for the smart contracts in future updates. DeFi developers will be able to access more varieties of financial data from MeFi with the MDT tokens on-chain.
MDT is a decentralized data economy where users, data providers and data buyers can exchange data securely and anonymously on blockchain. On the consumer side, MDT’s very own consumer app RewardMe rewards users for contributing anonymous data points. On the business side, its alternative data arm Measurable AI turns anonymous transactional data into valuable consumer insights for financial institutions, corporates, and academia. With the surge of interest in decentralized finance, the MDT team has pioneered the MeFi oracle as a means to bridge the gap between capital market financial data and the decentralized world.
“Data is like the superpower in the capital markets. If DeFi is to go mainstream, DeFi innovations and Dapps have to connect with the external context,” says Heatherm Huang, co-founder of Measurable Data Token. “MeFi serves as the ‘Bloomberg on blockchain’ – its secure connections between blockchain smart contracts and capital markets help developers access reliable external financial data on-chain.”
With MeFi Oracle’s launch, the MDT team also built a Dapp as its first use case. The MeFi Dapp currently available on both Ethereum and Testnet allows users to access any live stock price information on blockchain from the real world capital markets through the MeFi Oracle.
Blockchain oracles are essential as an infrastructure tool for the decentralised finance industry. As a veteran in both financial data and blockchain, MDT endeavours to be a pioneer in bridging the capital markets and the blockchain world with MeFi, therefore propelling developers to build more powerful decentralized innovations.