With its new release, Crypto Volatility Index tokens (CVI) by Coti Network (COTI) will be rebased through cutting-edge on-chain instruments.
Chainlink Keepers now empower CVI mechanism
According to the press release shared with U.Today, Coti Network (COTI) announced a crucial upgrade of its crypto volatility index token architecture.
Starting from October 2021, the underlying supply of volatility tokens will be rebalanced with Chainlink Keepers, an automated decentralized network by the team behind Chainlink Oracles.
With this novelty, every day at midnight (UTC) the supply of volatility tokens will be rebased in order to ensure a robust and accurate pegging to the current volatility of cryptocurrencies markets.
Shahaf Bar-Geffen, CEO of COTI, stresses that the current stage of Chainlink/Coti integration is a crucial one for the technological progress of his product:
Integrating Chainlink Keepers was a natural next step after using Chainlink Price Feeds to access high-quality options data used in the CVI volatility index calculation. Chainlink Keepers are reliable, decentralized, and seamless to integrate, ultimately offloading manual labor from our developers while still providing strong assurances that our volatility tokens stay pegged to the underlying CVI index.
More options to benefit from crypto volatility
Coti Network (COTI) pioneered the segment of decentralized volatility indexes that act similarly to VIX on stock markets. Traders can benefit from volatility moves in both directions.
Right now, besides ETHVOL tokens being pegged to the volatility dynamics of the first-ever smart contracts platform, Ethereum (ETH), Coti Network is going to introduce CVIVOL assets on Polygon (MATIC).
As covered by U.Today previously, Coti Network hired VIX creator Prof. Dan Galai to contribute to the release of its most eccentric product, CVI.