Tokenized stock specialist Dinari uses the oracle network Chainlink LINK$14.92 for price data to onchain S&P DJI’s upcoming crypto-focused index, the companies told CoinDesk on Wednesday.
The S&P Digital Markets 50 Index will track 35 publicly traded companies involved in blockchain technology and 15 top cryptocurrencies. Dinari will create a token of the index using its ‘dShares’ offering, allowing investors to gain exposure to traditional financial (TradFi) and crypto markets through a single digital asset. Each dShare is backed 1:1 by the underlying shares and held by a regulated custodian, retaining rights such as dividends and redemptions.
While S&P DJI does not support the token itself, the index provider confirmed that Chainlink’s integration ensures that the data powering the token meets transparency and reliability standards.
Chainlink’s will use its decentralized oracle network to ensure that the index reflects current market performance directly on blockchain protocols. Oracles are services that provide blockchains with real-world information that may be needed to inform blockchain programs such as smart contracts.
“By powering the S&P Digital Markets 50 Index, Chainlink is enabling one of the first indexes to operate onchain with verifiable, real-time index data spanning both traditional and digital assets,” Fernando Vazquez, president of capital markets at Chainlink Labs, said in a statement.
The initiative fits into a broader trend to bring TradFi instruments such as bonds, funds and shares, often called real-world assets (RWA), onto blockchain rails.
RWA platform Centrifuge in September unveiled what it called the first licensed S&P 500 index fund onchain, SPXA, traded on Coinbase’s Base network and managed by Janus Henderson and Centrifuge’s Anemoy.