To insure the accuracy of data tracked by OITs (On-chain Index Tokens), nealthy integrates Chainlink Price Feeds providing access to the hystorical and latest data about crypto market. The availability of Chainlink Price Feeds completes a critical piece of nealthy's products infrastructure, bringing a proven oracle network to the OITs.
The need for a mature oracle system like Chainlink is essential in maintaining the overall reliability of the algorithmic indexes as a secure, accurate and multi-data accumulative form of asset.
nealthy is a user-friendly on-chain asset management platform that enables access to On-chain Index Tokens (OITs) tracking the index of a portfolio of assets. OITs essentially represent fully-collateralized ERC-20 tokens pegged to indexes which are updated in real time according to the prices and market cap of assets contained in the underlying portfolios.
Portfolios are implemented as multi-asset vaults weighted by predetermined criteria to reflect the industry’s or the industry verical’s dynamics. Indexes are the key to advanced asset management which was earlier available only to a narrow category of wealthy investors and high-net-worth individuals (HNWI). With nealthy, asset management moves on-chain and operates according to specific strategies that are also continuously updated based on external factors like market dynamics and price changes.
The first and most prominent index product by nealthy is $nSTBL*- a fully collateralized stablecoin $nSTBL pegged to the index of a portfolio of the top-3 stablecoins- DAI, USDT and USDC.
Chainlink Data Feeds are essential to creating indexes on-chain. The issuance of OITs is connected to constant price and market cap updates which are factored to the index price. Therefore, it is necessary to introduce an external off-chain service that monitors the prices and verifies that the weights of the underlying assets are accurate. With hundreds of data feeds, Chainlink is an obvious choice for the nealthy platform which aims at providing a variety of OITs, each tracking indexes of diverse asset vaults.
Later on, as nealthy moves on the roadmap, the platform will need to know the NFT’s value for $nNFTs, a token pegged to an index tracking blue-chip collections, which is also possible with the Chainlink oracles.
The reputation of Chainlink’s services within the Web3 ecosystem is another major reason for the integration with nealthy. Chainlink’s Data Feeds is a collection of decentralized oracle networks that secure hundreds of price feeds for a range of asset classes, including cryptocurrencies, fiat currencies, commodities, indices, and more.
We are excited to spearhead the adoption of OITs as an asset type being confident in the infrastructure service providers which we use in development. We believe this integration will significantly advance the expansion of OITs as a whole, allowing updated and most accurate data in a highly secure and transparent manner.
Chainlink is the industry-standard Web3 services platform connecting the people, businesses, and data of today with the Web3 world of tomorrow. Chainlink enables smart contracts on any blockchain to leverage extensive off-chain resources, such as tamper-proof price data, verifiable randomness, automation functions, external APIs, and much more. Chainlink is trusted by hundreds of organizations to deliver definitive truth via secure, reliable data feeds.
nealthy is a user-friendly on-chain asset management platform that enables access to On-chain Index Tokens (OITs) tracking the index of a portfolio of assets. The platform allows traders and investors to seamlessly onramp, swap, and effectively manage their portfolio on-chain. By combining the best of TradFi and Crypto worlds, nealthy moves the frontiers of the current digital asset market and brings greater flexibility and protection of user funds.
*license application under process with the regulator. The nealthy FZCO will ensure strict compliance with the regulation rules in terms of conflict of interest.