Published 24 Jan, 2024
Truflation is thrilled to announce the launch of the Truflation Stream Network (TSN) – a permissionless network that draws on Truflation’s broad real-time data streams to power the tokenization of real-world assets (RWA).
From tracking the price of nickel and the cost of electric vehicle production, to plotting orange juice prices, the Truflation Stream Network is a Definitive Reference Point protocol (DRPp) set to open up limitless financing markets and bring trillions of dollars worth of global financial data on-chain. TSN facilitates a broad variety of use cases and its comprehensive data streams can be used by virtually any market participant to create new financial products, facilitate market access, and support important financial and investment decisions.
Let’s take a look under the hood.
The Truflation Stream Network (TSN) uses real-world data to enhance the use cases of compatible blockchains that lack this data natively. As such, it is responsible for the network, computation and storage layers of the protocol.
TSN is a stand-alone byzantine fault tolerant (BFT) network designed to facilitate the development of innovative data-driven web3 applications. The availability of data is guaranteed by our network of node operators, as well as individual customers and asset managers.
TSN’s real-time data streams have a variety of applications, like the creation of new decentralized exchanges (DEXs) and decentralized applications (dApps). So who are the key stakeholders in the TSN ecosystem?
TSN can be integrated into decentralized finance (DeFi) protocols, DEXs and dApps, and its data can be used to power any kind of synthetic index or asset. For example, Truflation has integrated its data with layer 1 blockchain Injective, where it is building the first futures commodity index exchange.
TSN’s real-time economic and financial data would not be possible without its network of whitelisted data aggregators. Their job is to index and aggregate the data and ensure its composability.
Node operators ensure the validity and availability of data, as well as the computation and distribution of TSN’s indexes, by maintaining the necessary infrastructure and software updates.
The network of node operators works on a delegated proof-of-stake model. Each node operator is rewarded for their work with delegated tokens. In return, they must meet availability requirements to avoid the risk of slashing.
Stream managers participate in qualification and verification. Elevated validators secure the network through data validation and curation. Validators will stake TSN’s native TRUF tokens to validate the data.
Truflation.com itself is the cornerstone product built using the TSN Definitive Reference Point protocol (DRPp) service. Leveraging all the available data streams from TSN, streams provide search and discovery capabilities, indexes, and our flagship Personal Inflation Calculator – a tool that allows users to calculate the exact level of inflation affecting an individual household.
Another use case is Truflation’s aforementioned integration with Injective. By providing real-time data feeds for commodities, metals, and precious metals, as well as its indexes, Truflation allows any exchange or front-end application built on Injective’s platform to effortlessly launch RWA-based indexes in a fully decentralized and on-chain environment.
TSN is governed by the Truflation DataDAO community, who use Truflation’s development tools and services and help to build its independent indexes. This community consists of data providers, node operators, software and financial engineers, and TRUF token holders, who gain voting rights on the future of the DRP protocol and index requirements.
The DataDAO is designed to take advantage of five core benefits of the decentralized autonomous organization (DAO) structure: censorship resistance, independence, immutability, cost-efficiencies and robust governance. The community builds and adjusts the methodology transparently to suit the needs of all its stakeholders.
As such, Truflation DataDAO’s core utility is its ability to pool and compose fragmented data together to create valuable datasets and indexes within predefined, transparent, mutually agreed, verified, and documented methodologies.
We’re excited to launch the Truflation Stream Network (TSN) at a time when the world is moving towards a future where any asset can be tokenized. With the help of TSN’s rapidly expanding list of live data streams, we will facilitate the creation of limitless financial products on the blockchain.
The data streams are designed to be embedded seamlessly into a wide variety of decentralized applications, from on-chain commodity futures exchanges and synthetic indexes to flatcoins and inflation forecasting tools. The applications for TSN are truly infinite.
For full technical details of the Truflation Stream Network, click here
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