X2Y2 Exchange Trade Data

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Exchange Information

What is X2Y2?

X2Y2 is a blockchain oracle that acts as an external information provider for smart contracts. It was founded by an anonymous team and its purpose is to supply verified data from outside the blockchain. X2Y2 was launched in [year]. The name X2Y2 is derived from its function of connecting external data (X) to smart contracts (Y). It provides a reliable source of data for blockchain applications.

What are the benefits of using X2Y2?

X2Y2 offers several benefits compared to its direct competitors A and B. One of the key advantages of using X2Y2 is its enhanced security features. X2Y2 implements advanced encryption protocols which ensure the integrity and confidentiality of data stored and transmitted within the platform. This ensures that sensitive information remains protected from unauthorized access.

Additionally, X2Y2 boasts a high level of scalability. The platform is designed to handle a large number of transactions simultaneously, which is crucial for companies with high transaction volumes. This scalability allows for seamless and efficient operations, even during peak periods of activity.

Furthermore, X2Y2 offers a user-friendly interface and intuitive user experience. The platform is designed with a focus on simplicity and ease of use, allowing users to quickly adapt and navigate through its features. This reduces the learning curve and increases overall productivity.

Another notable advantage of X2Y2 is its robust integration capabilities. The platform seamlessly integrates with various existing systems and applications, allowing for a smooth transition and streamlined processes. This interoperability ensures that organizations can leverage their existing infrastructure without significant disruptions.

In conclusion, X2Y2 stands out from its direct competitors A and B due to its enhanced security, scalability, user-friendly interface, and robust integration capabilities. These benefits make X2Y2 an attractive solution for companies seeking a reliable and efficient platform.

How does X2Y2 work?

X2Y2 is built on blockchain technology, specifically on the Ethereum blockchain. The Ethereum blockchain is a decentralized network that allows for the execution of smart contracts. Smart contracts are self-executing agreements that automatically trigger specific actions when predetermined conditions are met.

In the context of X2Y2, blockchain oracles play a crucial role. A blockchain oracle is an external information provider that supplies verified data from outside the blockchain to smart contracts. X2Y2 utilizes blockchain oracles to provide accurate and reliable data to its users.

The functioning of X2Y2 involves the following steps:
1. Data Collection: X2Y2 collects data from various sources, such as exchanges or marketplaces, to ensure a comprehensive and accurate dataset.
2. Data Verification: The collected data is verified by the blockchain oracles to ensure its authenticity and integrity.
3. On-Chain Integration: The verified data is then integrated into the Ethereum blockchain through smart contracts.
4. Access to Price Feeds: Users can access the price feeds provided by X2Y2 to obtain real-time and historical data on cryptocurrencies, NFTs, Liquid Staked Tokens (LSTs), and more.

By leveraging the Ethereum blockchain and utilizing blockchain oracles, X2Y2 ensures that users have access to reliable and tamper-proof data. This enables users to make informed decisions and take advantage of the vast opportunities offered by the blockchain ecosystem.

How does DIA fetch X2Y2 trade data?

DIA employs a comprehensive approach to fetching trade data from various DeFi and NFT exchanges. The process differs depending on the type of exchange being considered.

For centralized exchanges like Coinbase, Kraken, and Binance, DIA utilizes scrapers that directly collect trades from the exchange databases using Rest APIs or WebSocket APIs. The frequency of data collection varies from 1 to 7 seconds, depending on the exchange. By retrieving trading data as close to the source as possible, DIA ensures high precision and up-to-date information.

Decentralized exchanges, on the other hand, present a different challenge. DIA collects data from various blockchains by subscribing to swap events in liquidity pools. This approach allows DIA to retrieve trading data directly from the blockchain itself, enhancing the accuracy of the data. Prominent decentralized exchange sources include Uniswap, curve.finance, and PancakeSwap.

In the case of NFT marketplaces, DIA captures live trading data by integrating with the marketplaces' smart contracts. The retrieval period for NFT transactions ranges from 20 seconds to 1 minute, ensuring that DIA covers all NFT transactions happening in real-time. By focusing on live data and excluding unreliable bids and offer data, DIA provides accurate and comprehensive information about the broader NFT market. Notable integrated NFT exchange sources include Blur, X2Y2, OpenSea, and TofuNFT.

DIA's approach to fetching trade data combines direct data collection from centralized exchanges, blockchain-level data retrieval from decentralized exchanges, and integration with NFT marketplaces. This comprehensive data management strategy enables DIA to provide highly accurate and customizable price feeds, catering to the diverse needs of the blockchain ecosystem.

How build oracles with X2Y2 data?

DIA employs a two-step process to compute trade data from X2Y2 and build price feed oracles for different types of exchanges, whether it be DeFi or NFT.

For DeFi exchanges, DIA first cleans and detects outliers in the trade data. This ensures that trades with prices that divert significantly from the current market price are excluded. The cleaning process involves applying an Interquartile Range (IR) filter, which analyzes trades within a predefined time range and sorts them by recorded price. Trades falling into the first and last quartiles, which lie outside of an acceptable range, are filtered out. Only trades falling into the middle quartiles move forward for further processing.

Once the data is cleaned, DIA applies price determination methodologies to compute the final price. A commonly used methodology is the Volume Weighted Average Price (VWAP), which takes into account the different volumes of trades. Another example is the Moving Average with Interquartile Range Filter (MAIR), which calculates the weighted average price based on the volume of trades.

For NFT exchanges, the process differs. DIA determines the floor price of an NFT collection by first cleansing the on-chain trade data to exclude market outliers and manipulation techniques. Then, a pricing methodology is applied to determine the final price point. The simplest methodology is the Floor Price, which provides the lowest sale price of an NFT collection recorded on the blockchain during a given time window. However, this methodology is susceptible to manipulation.

To address this, DIA offers advanced methodologies for pricing NFT collections, such as the Moving Average of Floor Price. This methodology calculates the moving average of a collection's floor price, taking into account customizable parameters such as the length of the average and the size of the floor window. DIA also applies an interquartile range outlier detection filter to filter out malicious behavior like wash trading.

Overall, DIA's process involves cleaning and detecting outliers in trade data, and then applying specific price determination methodologies depending on the type of exchange, whether it be DeFi or NFT.

How does DIA source price oracle data?

Instead of distributing pre-calculated data feeds, DIA covers the whole data journey from individual trade collection, and computation to the last mile of the feed delivery.

Granular trade data collection
DIA retrieves token and NFT tradign data from 100+ exchanges. This enables DIA to build the most precise and customizable price feed oracles.
Instant, direct sourcing
DIA utilizes RPCs and WebSockets to subscribe to swap events and gather trading data from both DEX liquidity pools and CEX databases, allowing for real-time data collection.
Learn more about data sourcing