Kaiko has recently announced a new collaboration with the renowned crypto trading and storage platform, Gemini. This partnership focuses on the utilization of the Gemini Foundation and the derivatives trading platform offered by Gemini, incorporating the Kaiko Benchmark Reference Rates marketplace.
Exciting news from Kaiko as they join forces with @Gemini! The Gemini Foundation will be integrating the Kaiko Benchmark Reference Rates into their derivatives trading platform. For more details, check out the full announcement here: https://t.co/RVh5FkxqxC — Kaiko (@KaikoData) June 6, 2024
The Kaiko Benchmark Reference Rates play a crucial role in enhancing portfolio valuation. This global company specializes in providing derivatives trading services across various sectors. Initially focused on perpetual contracts, the platform has plans to expand to include dated futures and options. Users can engage in trading activities involving assets like Bitcoin, Ethereum, and Solana without the need to physically own them. It is important to note that portfolios are calculated in GUSD, Gemini’s stablecoin, ensuring a fair valuation as cryptocurrencies may fluctuate in value based on market factors.
The reference rates provided by Kaiko Benchmark Reference Rates use price data from the Gemini exchange and other reputable sources, ensuring accuracy and credibility in price calculations. These rates are automatically updated every 5 seconds, providing users with up-to-date information.
William Cai, the managing director of Kaiko Indices, expressed enthusiasm about the partnership, highlighting Kaiko’s commitment to delivering quality data and reliability to the Gemini derivatives platform. He emphasized the importance of industry best practices in index design and management.
Neil Sheppard, Head of Derivatives at Gemini, reiterated Gemini’s dedication to offering users accurate and comprehensive market information. The collaboration aims to enhance the trading experience on Gemini by leveraging data solutions to provide users with valuable insights for making informed decisions.
This partnership is set to elevate the Gemini trading platform by providing real-time data on new ETFs through GraniteShare, enhancing user trust in the cryptocurrency derivatives market. Kaiko and Gemini are excited to work together to improve transparency and trust within the industry.