Published 13 Apr, 2023
At Truflation, we strongly believe that data Democratization is about creating an organization that doesn't tax curiosity but encourages it. An organization that sees "asking questions" not as a burden but as its modus operandi.
The launch of Truflation Premium, or Unbiased CPI Data as a Service is a step forward in this direction. By offering full access to real-time unbiased CPI data and alternative metrics, Truflation Premium truly democratizes access to market-moving data at a more affordable price. Corporations, users, and networks can more freely share or interact with data or transfer value.
Watch the Video Announcement:
Many of our customers have shared their struggles in finding high-quality, unbiased, real-time inflation data on-chain. Most data platforms are consumer products built with individuals in mind and are inadequate for businesses. The data may not be parsed accurately or granular enough, and no support system is typically available. Additionally, building an in-house solution is often extremely costly and diverts significant resources from their core business.
In fact, a recent Truflation analysis has revealed that the US Bureau for Labor and Statistics (BLS) housing cost measurement is significantly flawed, with a lag of nine months behind Truflation's own housing trends, potentially leading to inaccurate judgments of the economy's condition.
We built a Truflation Premium to address this challenge. Truflation utilizes real-time market data from over 40 data sources and 10M data points to reflect consumer spending habits with significantly greater precision.
Our price index regroups and reassigns 12 main categories and <X> subcategories within the CPI based on relative importance. Our Index currently supports 4 blockchains, including Arbitrum, Avalanche, Polygon, and BNB Chain. Additionally, we are constantly working to broaden our coverage by adding support for more chains
Truflation Complete truly represents the scale and depth of granularity of our data models.
This includes the overall price index, and additional in-depth data. While traditional CPI (BLS) data only includes a basket of 6 categories, Truflation, uses 12 categories, including food & non-alcoholic beverages, housing, transportation, utilities, health, household durables, alcohol & tobacco, clothing & footwear, communication, education, recreation & culture, and others.
With Truflation Complete, you receive the overall Truflation Index, YOY%, and data points across all 12 categories. DeFi builders find the package extremely desirable thanks to the granularity of data offered, allowing them to source independent price indices for any category(s) compatible with their use cases.
In case you don’t need the full panel, you can opt for Index Only, which gives you the overall Truflation Index and YOY%.
The Truflation Index aims to provide a more accurate and up-to-date picture of U.S. inflation by using a remastered version of the Consumer Price Index (CPI) that substitutes 55.5% of the current CPI datasets with recent market prices. The index repositions certain data subcategories and uses the chained CPI basket weights to reflect consumer budgets and spending habits accurately. The Index relies on an expansive set of independent and transparent data sources and calculations to achieve unparalleled accuracy. Truflation offers insights into the underlying model, data sources, and calculation methods to provide the most truthful and transparent inflation data.
Connecting on-chain applications to unbiased, real-world inputs and outputs presents an opportunity to unlock new use cases and bring massive value into Web3. We envision the Truflation Premium becoming the benchmark for DeFi teams building hybrid products.
Tokenization of RWAs is one of the strongest use cases we envision for Truflation Premium. We also see our data infrastructure powering inflation-resistant decentralized systems. To that end, Truflation is already supplying the core data infrastructure to the team building the future of DeFi stablecoins - Nuon.
The possibilities for translation-powered use cases both in TradFi and DeFi are limitless. We expect many more potential meaningful integrations that we have yet to discover.
Rich data sources are what evolved the internet. Static pages turned into dynamic data thanks to APIs (oracles). As APIs (oracles) evolved in the traditional web, they allowed completely new apps that weren’t previously possible. It was the key behind the web’s evolution from web1.0 (static) to web2.0 (dynamic). We envision a similar trajectory for Truflation to lay the groundwork for transforming the ownership of economic data on the web.
Monthly subscription starting from $19p/m
Historical data is a one-time payment starting from $17
Try Truflation Premium now: https://truflation.com